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REGISTERED NUMBER: 00637988 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Norman King Investments Limited

Norman King Investments Limited (Registered number: 00637988)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


Norman King Investments Limited (Registered number: 00637988)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £ £
Fixed assets
Tangible assets 5 4,226 4,935
Investment property 6 3,936,000 3,822,000
3,940,226 3,826,935

Current assets
Debtors 7 47,266 79,548
Cash at bank 70,489 309,251
117,755 388,799
Creditors
Amounts falling due within one year 8 (55,871 ) (315,935 )
Net current assets 61,884 72,864
Total assets less current liabilities 4,002,110 3,899,799

Creditors
Amounts falling due after more than one
year

9

(75,266

)

(103,069

)

Provisions for liabilities (816,899 ) (788,576 )
Net assets 3,109,945 3,008,154

Capital and reserves
Called up share capital 180 180
Retained earnings 10 3,109,765 3,007,974
3,109,945 3,008,154

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

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

Norman King Investments Limited (Registered number: 00637988)

Balance Sheet - continued
30 September 2024


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 3 April 2025 and were signed on its behalf by:





Mr I E King - Director


Norman King Investments Limited (Registered number: 00637988)

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


1. Statutory information

Norman King Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00637988

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

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 as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 15% p.a. reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated
depreciation and impairment losses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Norman King Investments Limited (Registered number: 00637988)

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


3. Accounting policies - continued

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.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


Norman King Investments Limited (Registered number: 00637988)

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


3. Accounting policies - continued
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.

4. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

5. Tangible fixed assets
Computer
equipment
£
Cost
At 1 October 2023
and 30 September 2024 45,649
Depreciation
At 1 October 2023 40,714
Charge for year 709
At 30 September 2024 41,423
Net book value
At 30 September 2024 4,226
At 30 September 2023 4,935

6. Investment property
Total
£
Fair value
At 1 October 2023 3,822,000
Revaluations 114,000
At 30 September 2024 3,936,000
Net book value
At 30 September 2024 3,936,000
At 30 September 2023 3,822,000

Norman King Investments Limited (Registered number: 00637988)

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


6. Investment property - continued

At 30 September 2024 Investment Properties were held at an open market value of £3,936,000 (2023: £3,822,000) by the directors of the company.

The historic cost of the revalued assets at 30 September 2024 was 672,632 (2023:£672,632).

A deferred tax provision has been included on the revaluation of the investment properties. As at 30 September 2024 a provision of £815,842 (2023:£788,576) was included within the total deferred tax provision.

Fair value at 30 September 2024 is represented by:
£
Valuation in 2024 3,263,368
Cost 672,632
3,936,000

7. Debtors: amounts falling due within one year
30.9.24 30.9.23
£ £
Trade debtors 1,745 1,325
Other debtors 45,521 78,223
47,266 79,548

8. Creditors: amounts falling due within one year
30.9.24 30.9.23
£ £
Bank loans and overdrafts 29,093 269,656
Trade creditors 3,148 614
Taxation and social security 9,450 30,746
Other creditors 14,180 14,919
55,871 315,935

Included within creditors less than one year, amounts totalling £63,388 (2023:£315,935) are secured on the assets of the company.

9. Creditors: amounts falling due after more than one year
30.9.24 30.9.23
£ £
Bank loans 75,266 103,069

Included within creditors more than one year, amounts totalling £75,266 (2023:£103,069) are secured on the assets of the company.

Norman King Investments Limited (Registered number: 00637988)

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


10. Reserves

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

30.9.2430.9.23
£   £   
Distributable662,239645,948
Non-distributable2,447,5262,362,025
3,109,7653,007,974

11. Related party disclosures

At 30 September 2024 the company was owed £45,521 (2023:£70,223) by Stone Park Management Limited.