1 January 2024 v2025.16.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsexbrli:purexbrli:sharesiso4217:GBP007594092024-01-012024-12-31007594092024-12-31007594092023-12-3100759409core:ShareCapital2024-12-3100759409core:ShareCapital2023-12-3100759409bus:Director12024-01-012024-12-3100759409bus:Director22024-01-012024-12-3100759409bus:RegisteredOffice2024-01-012024-12-3100759409core:CostValuation2024-12-310075940912024-01-012024-12-31007594092023-01-012023-12-3100759409countries:EnglandWales2024-01-012024-12-3100759409bus:AuditExemptWithAccountantsReport2024-01-012024-12-3100759409bus:PrivateLimitedCompanyLtd2024-01-012024-12-3100759409bus:SmallEntities2024-01-012024-12-3100759409bus:AbridgedAccounts2024-01-012024-12-31
Company registration number:
00759409
Northwood Properties (Fareham) Limited
Unaudited Filleted Abridged Financial Statements for the year ended
31 December 2024
Northwood Properties (Fareham) Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Northwood Properties (Fareham) Limited
Year ended
31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
abridged financial statements
of
Northwood Properties (Fareham) Limited
for the year ended
31 December 2024
which comprise the abridged statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com/​.
This report is made solely to the Board of Directors of
Northwood Properties (Fareham) Limited
, as a body, in accordance with the terms of our engagement letter dated 12 December 2010. Our work has been undertaken solely to prepare for your approval the
abridged financial statements
of
Northwood Properties (Fareham) Limited
and state those matters that we have agreed to state to the Board of Directors of
Northwood Properties (Fareham) Limited
, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com/​. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Northwood Properties (Fareham) Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Northwood Properties (Fareham) Limited
has kept adequate accounting records and to prepare statutory
abridged financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Northwood Properties (Fareham) Limited
. You consider that
Northwood Properties (Fareham) Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the abridged financial statements of Northwood Properties (Fareham) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.
Switch Accounting
The IncuHive Space, Hursley Campus
Hursley Park Road
Winchester
Hampshire
SO21 2JN
United Kingdom
Date:
23 March 2025
Northwood Properties (Fareham) Limited
Abridged Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Investments 5
250
 
250
 
Current assets    
Debtors
220
 
220
 
Net current assets
220
 
220
 
Total assets less current liabilities 470   470  
Capital and reserves    
Called up share capital
470
 
470
 
Profit and loss account -   -  
Shareholders funds
470
 
470
 
For the year ending
31 December 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 abridged 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 abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the year ended
31 December 2024
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
1 April 2025
, and are signed on behalf of the board by:
J Fay
N Fay
DirectorDirector
Company registration number:
00759409
Northwood Properties (Fareham) Limited
Notes to the Abridged Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
209 West Street
,
Fareham
,
Hampshire
,
PO16 0EN
, .

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.
The company holds more than 20% of the share capital of the following companies:
Fay & Son Ltd
Shares Held : 100%
Principal Activity : Property development & rental
The aggregate amount of capital & reserves and he results of these undertakings for the last relevant financial year were as follows:
Capital & Reserves = £423,278 (prior year : £431,432)
Loss for the year = £8,153 (prior year : £12,678 profit)

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.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Fixed assets

Investments
£
Cost  
At
1 January 2024
and
31 December 2024
250
 
Impairment  
At
1 January 2024
and
31 December 2024
-  
Carrying amount  
At
31 December 2024
250
 
At 31 December 2023
250
 

Fixed assets held at valuation

In respect of fixed assets held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
20242023
InvestmentsInvestments
££
Aggregate historical cost 250   250  
Carrying amount 250   250  

6 Controlling party