1 January 2024 v2025.36.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP121924032024-01-012024-12-31121924032024-12-31121924032023-12-3112192403core:WithinOneYear2024-12-3112192403core:WithinOneYear2023-12-3112192403core:ShareCapital2024-12-3112192403core:ShareCapital2023-12-3112192403core:RevaluationReserve2024-12-3112192403core:RevaluationReserve2023-12-3112192403core:RetainedEarningsAccumulatedLosses2024-12-3112192403core:RetainedEarningsAccumulatedLosses2023-12-3112192403bus:Director12024-01-012024-12-3112192403bus:RegisteredOffice2024-01-012024-12-3112192403core:LandBuildings2024-01-012024-12-31121924032023-01-012023-12-31121924032024-01-0112192403core:CostValuation2024-01-0112192403core:CostValuation2024-12-311219240312024-01-012024-12-3112192403countries:EnglandWales2024-01-012024-12-3112192403bus:AuditExempt-NoAccountantsReport2024-01-012024-12-3112192403bus:PrivateLimitedCompanyLtd2024-01-012024-12-3112192403bus:SmallEntities2024-01-012024-12-3112192403bus:AbridgedAccounts2024-01-012024-12-31
Company registration number:
12192403
Noram Investments Ltd
Unaudited Filleted Abridged Financial Statements for the year ended
31 December 2024
Noram Investments Ltd
Abridged Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 5
15,537,346
 
15,200,346
 
Investments 5
497,134
 
497,134
 
16,034,480
 
15,697,480
 
Current assets    
Debtors
3,752,323
 
3,845,348
 
Investments
412,115
  -  
Cash at bank and in hand
195,954
 
301,630
 
4,360,392
 
4,146,978
 
Creditors: amounts falling due within one year
(681,257
)
(918,803
)
Net current assets
3,679,135
 
3,228,175
 
Total assets less current liabilities 19,713,615   18,925,655  
Provisions for liabilities
(1,805,713
)
(1,721,463
)
Net assets
17,907,902
 
17,204,192
 
Capital and reserves    
Called up share capital
100
 
100
 
Revaluation reserve
8,932,443
 
8,679,693
 
Profit and loss account
8,975,359
 
8,524,399
 
Shareholders funds
17,907,902
 
17,204,192
 
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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
10 February 2025
, and are signed on behalf of the board by:
Tim Granger
Director
Company registration number:
12192403
Noram Investments Ltd
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
Rodwell House
,
2a Vicarage Road
,
Hornchurch
,
RM12 4AT
, England.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Investment property is not subject to depreciation

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
6
(2023:
6
).

5 Fixed assets

Tangible assetsInvestmentsTotal
£££
Cost or valuation      
At
1 January 2024
15,200,346
 
497,134
  15,697,480  
Revaluations
337,000
  -   337,000  
At
31 December 2024
15,537,346
 
497,134
  16,034,480  
Depreciation and impairment      
At
1 January 2024
and
31 December 2024
-   -   -  
Carrying amount      
At
31 December 2024
15,537,346
 
497,134
 
16,034,480
 
At 31 December 2023
15,200,346
 
497,134
 
15,697,480
 

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
Tangible assetsTangible assets
££
Aggregate historical cost 4,799,190   4,799,190  
Carrying amount 4,799,190   4,799,190  

Investment property

Included in tangible assets are the following amounts related to investment properties held at valuation:
2024
£
Carrying amount at
1 January 2024
15,200,346
 
Fair value adjustments
337,000
 
Carrying amount at
31 December 2024
15,537,346
 
All of the freehold properties have been revalued at the period end using either capital value where available or the Investment methodology whereby the rental value is capitalised at the years purchase (the time the investment would take to pay for itself) at an appropriate yield.