Company registration number 02830986 (England and Wales)
Norman Littlewood & Sons (Properties) Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 5 November 2024
PAGES FOR FILING WITH REGISTRAR
Norman Littlewood & Sons (Properties) Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Norman Littlewood & Sons (Properties) Limited
Statement Of Financial Position
as at 5 November 2024
05 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
79,899
99,874
Investment property
4
1,050,750
1,050,750
1,130,649
1,150,624
Current assets
Debtors
518
943
Cash at bank and in hand
292,319
258,085
292,837
259,028
Creditors: amounts falling due within one year
(468,699)
(510,544)
Net current liabilities
(175,862)
(251,516)
Total assets less current liabilities
954,787
899,108
Provisions for liabilities
5
(36,913)
(31,849)
Net assets
917,874
867,259
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
916,874
866,259
Total equity
917,874
867,259
Norman Littlewood & Sons (Properties) Limited
Statement Of Financial Position (continued)
as at 5 November 2024
05 November 2024
- 2 -
For the financial year ended 5 November 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.
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 4 August 2025 and are signed on its behalf by:
J H Littlewood
Director
Company registration number 02830986 (England and Wales)
Norman Littlewood & Sons (Properties) Limited
Notes to the financial statements
for the year ended 5 November 2024
- 3 -
1
Accounting policies
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.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents rents receivable in the year, and is recognised on an accruals basis.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, 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:
Plant and machinery
-25% reducing balance
Motor vehicles
-20% reducing balance
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.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised on all timing differences between the carrying amount of of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is then settled or the asset realised, based on the tax rates that have been enacted or substantively enacted by the end of the reporting period.
Norman Littlewood & Sons (Properties) Limited
Notes to the financial statements (continued)
for the year ended 5 November 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2023 - 3).
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 6 November 2023 and 5 November 2024
14,879
124,842
139,721
Depreciation and impairment
At 6 November 2023
14,879
24,968
39,847
Depreciation charged in the year
19,975
19,975
At 5 November 2024
14,879
44,943
59,822
Carrying amount
At 5 November 2024
79,899
79,899
At 5 November 2023
99,874
99,874
Norman Littlewood & Sons (Properties) Limited
Notes to the financial statements (continued)
for the year ended 5 November 2024
- 5 -
4
Investment property
2024
£
Fair value
At 6 November 2023 and 5 November 2024
1,050,750
Certain properties were valued on the basis of open market value on 3 February 1997 by Schofield Daniel and Hirst, Surveyors and Valuers. The other properties were valued on the basis of open market value at 5 November 2021 by the directors of the company. The historic cost of investment properties at 5 November 2024 was £975,843 (2023: £975,843)
5
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
36,913
31,849
6
Company information
Norman Littlewood & Sons (Properties) Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.