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Registered number: 05123239
Norfolk Pride Developments Limited
Financial Statements
For The Year Ended 31 March 2024
Avn Arena
AVN Arena Norfolk Limited
7 North Lynn Business Village, Bergen Way
Kings Lynn
Norfolk
PE30 2JG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05123239
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 76,454 101,742
76,454 101,742
CURRENT ASSETS
Stocks 5 140,000 300,000
Debtors 6 54,875 119,957
Cash at bank and in hand 222,317 358,420
417,192 778,377
Creditors: Amounts Falling Due Within One Year 7 (438,946 ) (48,915 )
NET CURRENT ASSETS (LIABILITIES) (21,754 ) 729,462
TOTAL ASSETS LESS CURRENT LIABILITIES 54,700 831,204
NET ASSETS 54,700 831,204
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 54,699 831,203
SHAREHOLDERS' FUNDS 54,700 831,204
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Attridge
Director
24th January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Norfolk Pride Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05123239 . The registered office is Avn Arena Norfolk Limited, 7, North Lynn Business Village, Bergen Way,, Kings Lynn, Norfolk, PE30 2JG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducung Balance
Fixtures & Fittings 25% Reducing Balance
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 1)
- 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 246,207 3,768 4,582 254,557
Additions - - 132 132
As at 31 March 2024 246,207 3,768 4,714 254,689
Depreciation
As at 1 April 2023 145,610 3,469 3,736 152,815
Provided during the period 25,149 75 196 25,420
As at 31 March 2024 170,759 3,544 3,932 178,235
Net Book Value
As at 31 March 2024 75,448 224 782 76,454
As at 1 April 2023 100,597 299 846 101,742
5. Stocks
2024 2023
£ £
Stock 140,000 -
Materials - 300,000
140,000 300,000
Page 3
Page 4
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 35,539 118,611
VAT 19,336 1,346
54,875 119,957
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 63,754 13,963
Bank loans and overdrafts 373,434 33,210
Corporation tax - (18 )
Other creditors 42 42
Accruals and deferred income 1,680 1,680
Director's loan account 36 38
438,946 48,915
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4