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REGISTERED NUMBER: 10382909 (England and Wales)












Financial Statements

for the Year Ended 30th September 2024

for

Norspring Development Ltd

Norspring Development Ltd (Registered number: 10382909)






Contents of the Financial Statements
for the Year Ended 30th September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Norspring Development Ltd

Company Information
for the Year Ended 30th September 2024







DIRECTORS: J E Gregory
Ms K A Griffin
Mrs K Bardwell-Springett
P A Springett





SECRETARY: Ms K A Griffin





REGISTERED OFFICE: 2 West Street
Henley on Thames
Oxfordshire
RG9 2DT





REGISTERED NUMBER: 10382909 (England and Wales)





ACCOUNTANTS: Buffery & Co Ltd
2 West Street
Henley On Thames
Oxfordshire
RG9 2DU

Norspring Development Ltd (Registered number: 10382909)

Abridged Balance Sheet
30th September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 100 100

CURRENT ASSETS
Stocks 841,006 841,006
Debtors 608,843 659,745
Cash at bank 16,932 42,182
1,466,781 1,542,933
CREDITORS
Amounts falling due within one year 657,600 682,281
NET CURRENT ASSETS 809,181 860,652
TOTAL ASSETS LESS CURRENT
LIABILITIES

809,281

860,752

CREDITORS
Amounts falling due after more than one
year

595,024

617,024
NET ASSETS 214,257 243,728

CAPITAL AND RESERVES
Called up share capital 5 1 1
Retained earnings 6 214,256 243,727
SHAREHOLDERS' FUNDS 214,257 243,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 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.

Norspring Development Ltd (Registered number: 10382909)

Abridged Balance Sheet - continued
30th September 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 11th March 2025 and were signed on its behalf by:





J E Gregory - Director


Norspring Development Ltd (Registered number: 10382909)

Notes to the Financial Statements
for the Year Ended 30th September 2024

1. STATUTORY INFORMATION

Norspring Development Ltd 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.

2. ACCOUNTING POLICIES

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

Significant judgements and estimates
The directors are conscious that the property market is extremely volatile at present. They have therefore considered that profits relating to the development should not be recognised until the cost of the development has been recovered entirely. This therefore reduces the value of work in progress shown in the accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Work in progress
Work in progress is valued at cost after deducting work in progress allocated to units sold during the year.
There is an amendment to the comparatives for this figure, which in error excluded the cost of land purchased for the development.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st October 2023
and 30th September 2024 100
NET BOOK VALUE
At 30th September 2024 100
At 30th September 2023 100

Norspring Development Ltd (Registered number: 10382909)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
1 Ordinary £1 1 1

6. RESERVES
Retained
earnings
£   

At 1st October 2023 243,727
Deficit for the year (29,471 )
At 30th September 2024 214,256