Norfolk Square(Northern Section)Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 00585752

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		25,000,000		25,000,000

			25,000,000		25,000,000
CURRENT ASSETS
Debtors	5	954,320		678,938
Cash at bank and in hand		710,446		825,949

		1,664,766		1,504,887
Creditors: Amounts Falling Due Within One Year	6	(754,032 )		(689,524 )

NET CURRENT ASSETS (LIABILITIES)			910,734		815,363

TOTAL ASSETS LESS CURRENT LIABILITIES			25,910,734		25,815,363

PROVISIONS FOR LIABILITIES
Deferred Taxation	7		(4,824,472 )		(4,824,472 )

NET ASSETS			21,086,262		20,990,891

CAPITAL AND RESERVES
Called up share capital	8		300		300
Revaluation reserve	10		14,473,821		14,473,821
Other reserves			2,586		2,586
Profit and Loss Account			6,609,555		6,514,184

SHAREHOLDERS' FUNDS			21,086,262		20,990,891

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Norfolk Square(Northern Section)Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr L G Lazarus

Director

08/10/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Norfolk Square(Northern Section)Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00585752. The registered office is Precision Works, Vicarage Road, Hampton Wick, Kingston Upon Thames, Surrey, KT1 4EB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Revenue represents rental income which is measured at the fair value of the consideration received or receivable, excluding discounts, rebate, value added tax and other sales taxes. Rental income is recognised on an accruals basis over the period of the rental agreement.

2.3. Tangible Fixed Assets and Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold	N/A
Fixtures & Fittings	15% on RBM
Computer Equipment	Straight line over 3 years

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. 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.

2.6. Pensions

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 6)

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Norfolk Square(Northern Section)Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Investment Properties	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 April 2024	25,000,000	192,131	25,192,131
Disposals	-	(192,131 )	(192,131 )

As at 31 March 2025	25,000,000	-	25,000,000

Depreciation
As at 1 April 2024	-	192,131	192,131
Disposals	-	(192,131 )	(192,131 )

As at 31 March 2025	-	-	-

Net Book Value
As at 31 March 2025	25,000,000	-	25,000,000

As at 1 April 2024	25,000,000	-	25,000,000

Cost or valuation as at 31 March 2025 is represented by:

	Investment Properties	Fixtures & Fittings	Total
	£	£	£
At cost	4,966,707	-	4,966,707
At valuation	20,033,293	-	20,033,293

	25,000,000	-	25,000,000

Investment property has been valued at the balance sheet date by the directors, who believe the carrying value to be their fair value. There has been no valuation of invesment property by an independent valuer.

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	513,951	271,424
Prepayments and accrued income	50,020	26,220
Other debtors	390,349	381,294

	954,320	678,938

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Norfolk Square(Northern Section)Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	31,039	18,151
Tax	231,641	206,895
Social security & other taxes	21,755	17,267
Accruals and deferred income	461,109	441,930
Directors' loan accounts	8,488	5,281

	754,032	689,524

During the year, the loan from Ronger Properties Ltd was fully repaid.

7. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	4,824,472	4,824,472

8. Share Capital

	2025	2024
Allotted, called up but not fully paid	£	£
300 Ordinary Shares of £ 1.00 each	300	300

9. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	600,000	300,000
Final dividend paid	-	150,000

	600,000	450,000

10. Reserves

	Revaluation Reserve
	£
As at 1 April 2024	14,473,821

As at 31 March 2025	14,473,821

11. Related Party Transactions

During the year, dividends totalling £600,000 (2024 : £450,000) were paid to the directors and shareholders of the company.

12. Ultimate Controlling Party

The company has been under the control of the directors throughout the year.

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Norfolk Square(Northern Section)Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

13. Audit Information

The auditor's report on the accounts of Norfolk Square(Northern Section)Limited for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by Statutory Auditor.

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