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Registration number: 01577060

Norsepine Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 April 2025

Norsepine Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 8

Norsepine Limited

Company Information

Directors | P Chowdhury T Chowdhury K A Chowdhury

Company secretary | P Chowdhury

Registered office | 1a Cunningham Road Tunbridge Wells Kent TN4 9EL

Norsepine Limited

(Registration number: 01577060)
Balance Sheet as at 30 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 115 | 153
Investment property | 5 | 4,542,962 | 4,230,624
|  | 4,543,077 | 4,230,777
Current assets |  |  |
Debtors | 6 | 12,420 | 11,739
Cash at bank and in hand |  | 90,355 | 344,672
|  | 102,775 | 356,411
Creditors: Amounts falling due within one year | 7 | (107,592) | (126,513)
Net current (liabilities)/assets |  | (4,817) | 229,898
Total assets less current liabilities |  | 4,538,260 | 4,460,675
Creditors: Amounts falling due after more than one year | 7 | (187,040) | (174,840)
Provisions for liabilities |  | (579,502) | (579,502)
Net assets |  | 3,771,718 | 3,706,333
Capital and reserves |  |  |
Called up share capital |  | 5,000 | 5,000
Revaluation reserve |  | 1,913,524 | 1,913,524
Retained earnings |  | 1,853,194 | 1,787,809
Shareholders' funds |  | 3,771,718 | 3,706,333

Norsepine Limited

(Registration number: 01577060)
Balance Sheet as at 30 April 2025

For the financial year ending 30 April 2025 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 October 2025 and signed on its behalf by:

......................................... K A Chowdhury Director

Norsepine Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1a Cunningham Road
Tunbridge Wells
Kent
TN4 9EL

These financial statements were authorised for issue by the Board on 29 October 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Norsepine Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures, Fittings and Equipment | 25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Norsepine Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 4).

Norsepine Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4 | Tangible assets

| Fixtures and fittings £ | Total £
Cost or valuation
At 1 May 2024 | 24,313 | 24,313
At 30 April 2025 | 24,313 | 24,313
Depreciation
At 1 May 2024 | 24,160 | 24,160
Charge for the year | 38 | 38
At 30 April 2025 | 24,198 | 24,198
Carrying amount
At 30 April 2025 | 115 | 115
At 30 April 2024 | 153 | 153

5 | Investment properties

| 2025 £
At 1 May | 4,230,624
Additions | 312,338
At 30 April | 4,542,962

Investment property comprises residential properties for letting. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors at 30 April 2025. The valuation was made on an open market value basis by reference to increases in the House Price Index for the year then ended.

6 | Debtors

Current | 2025 £ | 2024 £
Prepayments | 1,059 | 718
Other debtors | 11,361 | 11,021
| 12,420 | 11,739

Norsepine Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 24,383 | 44,448
Taxation and social security |  | 19,798 | 16,012
Accruals and deferred income |  | 2,700 | 2,700
Other creditors |  | 60,711 | 63,353
|  | 107,592 | 126,513

Included in other creditors due within one year is an interest free loan to the value of £49,350 (2024 : £51,123) owed to the directors of the company which is repayable on demand.

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 187,040 | 174,840

8 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 187,040 | 174,840

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 24,383 | 44,448

The bank borrowings are secured by:
(a) a charge against some of the properties held by the company; and
(b) a debenture held over all of the assets owned by the company.