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REGISTERED NUMBER: 09752507 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

NORFOLK REAL ESTATE LTD

NORFOLK REAL ESTATE LTD (REGISTERED NUMBER: 09752507)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


NORFOLK REAL ESTATE LTD (REGISTERED NUMBER: 09752507)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,235 1,647

CURRENT ASSETS
Debtors 5 27,651 30,028
Cash at bank - 149
27,651 30,177
CREDITORS
Amounts falling due within one year 6 16,251 21,010
NET CURRENT ASSETS 11,400 9,167
TOTAL ASSETS LESS CURRENT LIABILITIES 12,635 10,814

CREDITORS
Amounts falling due after more than one
year

7

(11,694

)

(14,075

)

PROVISIONS FOR LIABILITIES 9 (309 ) (412 )
NET ASSETS/(LIABILITIES) 632 (3,673 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 532 (3,773 )
SHAREHOLDERS' FUNDS 632 (3,673 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 REAL ESTATE LTD (REGISTERED NUMBER: 09752507)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 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 director and authorised for issue on 27 May 2025 and were signed by:





R J Gower - Director


NORFOLK REAL ESTATE LTD (REGISTERED NUMBER: 09752507)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Norfolk Real Estate Ltd 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: 09752507

Registered office: 2C Common Road
Snettisham
Kings Lynn
Norfolk
PE31 7PE

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


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 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.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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.
Plant and machinery etc - 25% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

NORFOLK REAL ESTATE LTD (REGISTERED NUMBER: 09752507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

NORFOLK REAL ESTATE LTD (REGISTERED NUMBER: 09752507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 4,738
DEPRECIATION
At 1 September 2023 3,091
Charge for year 412
At 31 August 2024 3,503
NET BOOK VALUE
At 31 August 2024 1,235
At 31 August 2023 1,647

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,231 2,231
Other debtors 25,420 27,797
27,651 30,028

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 2,742 2,381
Trade creditors 1,148 895
Taxation and social security 3,488 8,471
Other creditors 8,873 9,263
16,251 21,010

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 11,694 14,075

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 361 -
Bank loans 2,381 2,381
2,742 2,381

NORFOLK REAL ESTATE LTD (REGISTERED NUMBER: 09752507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. LOANS - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 2,381 2,381

Amounts falling due between two and five years:
Bank loans - 2-5 years 9,313 11,694

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 309 412

Deferred
tax
£   
Balance at 1 September 2023 412
Provided during year (103 )
Balance at 31 August 2024 309

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
R J Gower
Balance outstanding at start of year 24,333 27,681
Amounts advanced 15,465 14,276
Amounts repaid (17,842 ) (17,624 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,956 24,333

This amount is unsecured and repayable on demand. Interest is charged on the overdrawn directors loan account balance at the HMRC official interest rates.

12. ULTIMATE CONTROLLING PARTY

The controlling party is R J Gower.