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Company registration number: 00665671
Norit Properties Limited
Unaudited filleted abridged financial statements
30 April 2024
Norit Properties Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Norit Properties Limited
Directors and other information
Directors Mr TM Krell
Mr EG Krell
Secretary Mr TM Krell
Company number 00665671
Registered office 31 Bridge Street
Aberystwyth
Ceredigion
SY23 3TW
Accountants Davies Lewis Baker
31 Bridge Street
Aberystwyth
Ceredigion
SY23 1QB
Norit Properties Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Norit Properties Limited
Year ended 30 April 2024
27 January 2025
This page has intentionally been left blank
Norit Properties Limited
Abridged statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 1,649,429 1,649,429
_______ _______
1,649,429 1,649,429
Current assets
Debtors 100 100
_______ _______
100 100
Creditors: amounts falling due
within one year ( 1,651,730) ( 1,650,197)
_______ _______
Net current liabilities ( 1,651,630) ( 1,650,097)
_______ _______
Total assets less current liabilities ( 2,201) ( 668)
_______ _______
Net liabilities ( 2,201) ( 668)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 2,301) ( 768)
_______ _______
Shareholders deficit ( 2,201) ( 668)
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 27 January 2025 , and are signed on behalf of the board by:
Mr TM Krell
Director
Company registration number: 00665671
Norit Properties Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 31 Bridge Street, Aberystwyth, Ceredigion, SY23 3TW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The company has taken advantage of exemption, under the terms of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Investments
£
Cost
At 1 May 2023 and 30 April 2024 1,649,429
_______
Impairment
At 1 May 2023 and 30 April 2024 -
_______
Carrying amount
At 30 April 2024 1,649,429
_______
At 30 April 2023 1,649,429
_______
6. Going concern
The company is financially dependent upon other companies within the group.