Company Registration No. 06591214 (England and Wales)
The Norfolk Property Group Ltd
Unaudited accounts
for the year ended 31 March 2025
The Norfolk Property Group Ltd
Unaudited accounts
Contents
The Norfolk Property Group Ltd
Company Information
for the year ended 31 March 2025
Directors
A Naghshineh
S Naghshineh
C Thoday
Company Number
06591214 (England and Wales)
Registered Office
Riverside House
11-12 Riverside Road
Norwich
Norfolk
NR1 1SQ
The Norfolk Property Group Ltd
Statement of financial position
as at 31 March 2025
Cash at bank and in hand
26,337
158,071
Creditors: amounts falling due within one year
(448,582)
(458,740)
Net current assets/(liabilities)
29,740
(45,669)
Total assets less current liabilities
29,740
(45,669)
Provisions for liabilities
Deferred tax
(1,406)
(1,406)
Other provisions
(111,085)
-
Net liabilities
(82,751)
(47,075)
Called up share capital
1
1
Profit and loss account
(82,752)
(47,076)
Shareholders' funds
(82,751)
(47,075)
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by
C Thoday
Director
Company Registration No. 06591214
The Norfolk Property Group Ltd
Notes to the Accounts
for the year ended 31 March 2025
The Norfolk Property Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 06591214. The registered office is Riverside House, 11-12 Riverside Road, Norwich, Norfolk, NR1 1SQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared on a going concern basis.
The financial statements have been prepared on a going concern basis. However attention is drawn to the following:
At the end of the year the company owed a total of £449,330 (2024: £459,488) to connected parties.
Additionally, the company was owed £125,900 (2024: £40,000) by companies under common control and £326,085 (2024: £215,000) by other debtors.
The directors have determined that the company has the resources available for the foreseeable future and, in particular, has resources available for the period of 12 months from the date of approval of these financial statements.
The accounts are presented in £ sterling.
Turnover comprises income from the investment property. The income is recognised on an accruals basis.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax liabilities arising from gains on the revaluation of investment property are recognised in full.
Deferred tax assets arising from unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future profits or the future reversal of deferred tax liabilities.
Deferred tax assets and liabilities are not discounted.
Amounts falling due after more than one year
Amounts due from group undertakings etc.
125,900
40,000
Other debtors
326,085
215,000
The Norfolk Property Group Ltd
Notes to the Accounts
for the year ended 31 March 2025
5
Creditors: amounts falling due within one year
2025
2024
Trade creditors
(748)
(748)
Amounts owed to group undertakings and other participating interests
449,330
459,488
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
7
Transactions with related parties
Under section 33.1A of FRS 102 the Company is not obliged to disclose transaction between members of other group companies where group accounts are prepared.
The company has a loan agreement with A Naghshineh, a director and shareholder of the company. At year end outstanding balance from the company was £3,088 (2024: £3,088).
Included in creditors due within one year is a loan of £440,000 (2024: £440,000) from The AN Family Trust, a trust registered in Jersey in which A Naghshineh is a beneficiary. During the year, the company paid interest of £38,479 (2024: £23,205) to The AN Family Trust.
The company was charged facilities management fees by Targetfollow Estates Limited, a company controlled by A Naghshineh. At the end of the year, there was an outstanding credit balance of £748 (2024: £748)
The company is controlled by Targetfollow Group Limited and, in the opinion of the directors, this is the company's ultimate parent company. The ultimate controlling party is the director and shareholder of Targetfollow Group Limited, A Naghshineh.
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is Targetfollow Group Ltd. Consolidated accounts are available from Companies House.
9
Average number of employees
During the year the average number of employees was 0 (2024: 0).