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REGISTERED NUMBER: 03068896 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Norfolk Plaza Management Limited

Norfolk Plaza Management Limited (Registered number: 03068896)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Norfolk Plaza Management Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A O Muttawa
O O Muttawa





REGISTERED OFFICE: 67 Westow Street
London
SE19 3RW





REGISTERED NUMBER: 03068896 (England and Wales)





ACCOUNTANTS: CWF & Partners Ltd
Chartered Accountants
Freedman House
Christopher Wren Yard
117 High Street
Croydon
Surrey
CR0 1QG

Norfolk Plaza Management Limited (Registered number: 03068896)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 256,230 490,311

CURRENT ASSETS
Debtors 6 58 16,170
Cash at bank 13,617 508
13,675 16,678
CREDITORS
Amounts falling due within one year 7 2,713,437 2,610,306
NET CURRENT LIABILITIES (2,699,762 ) (2,593,628 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,443,532

)

(2,103,317

)

PROVISIONS FOR LIABILITIES 8 5,727 5,096
NET LIABILITIES (2,449,259 ) (2,108,413 )

CAPITAL AND RESERVES
Called up share capital 9 741,900 741,900
Share premium 188,100 188,100
Retained earnings (3,379,259 ) (3,038,413 )
SHAREHOLDERS' FUNDS (2,449,259 ) (2,108,413 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Norfolk Plaza Management Limited (Registered number: 03068896)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2025 and were signed on its behalf by:





O O Muttawa - Director


Norfolk Plaza Management Limited (Registered number: 03068896)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Norfolk Plaza Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - over the period of the lease
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% p.a. on a straight line basis

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern
At 31 December 2023 the company had net current liabilities of £2,699,762 and net liabilities of £2,449,259. Included in creditors is a balance of £533,221 from a fellow group undertaking. The shareholder has indicated that they will continue to provide financial support to the company for at least the next twelve months to enable the company to pay its debts as and when they fall due. The directors, therefore, consider that it is appropriate to prepare the financial statements on a going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

Norfolk Plaza Management Limited (Registered number: 03068896)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Property and Motor Computer
improvements fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 2,303,263 421,350 2,200 56,215 2,783,028
DEPRECIATION
At 1 January 2023 1,844,692 390,003 1,808 56,214 2,292,717
Charge for year 229,281 4,702 98 - 234,081
At 31 December 2023 2,073,973 394,705 1,906 56,214 2,526,798
NET BOOK VALUE
At 31 December 2023 229,290 26,645 294 1 256,230
At 31 December 2022 458,571 31,347 392 1 490,311

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 58 16,170

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors - 9,617
Amounts owed to group undertakings 533,221 455,514
Amounts owed to connected companies 2,160,122 2,129,195
Taxation and social security 2,499 2,101
Other creditors 17,595 13,879
2,713,437 2,610,306

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 5,727 5,096

Deferred
tax
£   
Balance at 1 January 2023 5,096
Charge to Income Statement during year 631
Balance at 31 December 2023 5,727

Norfolk Plaza Management Limited (Registered number: 03068896)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
741,900 Ordinary shares £1 741,900 741,900