Company Registration No. 02647313 (England and Wales)
NOBLEFIELD HEIGHTS RESIDENTS ASSOCIATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
ACCOUNTS FOR FILING WITH REGISTRAR
NOBLEFIELD HEIGHTS RESIDENTS ASSOCIATION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
NOBLEFIELD HEIGHTS RESIDENTS ASSOCIATION LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
520,000
520,000
Current assets
Debtors
4
3,249
-
0
Cash at bank and in hand
-
0
5,498
3,249
5,498
Creditors: amounts falling due within one year
5
(426)
(2,538)
Net current assets
2,823
2,960
Total assets less current liabilities
522,823
522,960
Provisions for liabilities
(6,904)
(6,904)
Net assets
515,919
516,056
Capital and reserves
Called up share capital
6
31
31
Revaluation reserve
7
513,096
513,096
Profit and loss reserves
2,792
2,929
Total equity
515,919
516,056

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 12 June 2025 and are signed on its behalf by:
S Djurasinovic
Director
Company registration number 02647313 (England and Wales)
NOBLEFIELD HEIGHTS RESIDENTS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Noblefield Heights Residents Association Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 7A, Building 6, Croxley Park, Hatters Lane, Watford, Hertfordshire, WD18 8YH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

The company receives rental income from the lessees who did not participate in the purchase of the freehold.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Depreciation is not charged

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

NOBLEFIELD HEIGHTS RESIDENTS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received.

1.7

Status

During the year the company has acted as agent for the lessees of the property at Noblefield Heights, Great North Road, London, N2 0NX. The funds in relation to the maintenance of the property are held in trust.

 

Income and expenditure in relation to the maintenance of the common parts of the property held in accordance with the governing leases. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and are not filed at Companies House. The accounts can be obtained from Noblefield Heights Residents Association Limited.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 October 2023 and 30 September 2024
520,000
Depreciation and impairment
At 1 October 2023 and 30 September 2024
-
0
Carrying amount
At 30 September 2024
520,000
At 30 September 2023
520,000

The directors are of the opinion that the freehold of Noblefield Heights has no value at 30 September 2024, following the granting of 999 year leases to the lessees.

 

The porter's flat was valued by Robert Irving Burns on 24 June 2024 at £520,000. The directors consider this amount to be materially correct for the fair value of the property as at the year end.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,249
-
0
NOBLEFIELD HEIGHTS RESIDENTS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
-
0
568
Other creditors
426
1,970
426
2,538
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
31
31
31
31
7
Revaluation reserve
2024
2023
£
£
At the beginning of the year
513,096
365,000
Revaluation surplus arising in the year
-
0
155,000
Deferred tax on revaluation of tangible assets
-
(6,904)
At the end of the year
513,096
513,096
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