1 November 2024 v2026.9.1 limited_company_frs_102_section_1a_v1_1_3 companies_house Software false true true true No description of principal activity false true xbrli:pure xbrli:shares iso4217:GBP 08756528 2024-11-01 2025-10-31 08756528 2025-10-31 08756528 2024-10-31 08756528 core:WithinOneYear 2025-10-31 08756528 core:WithinOneYear 2024-10-31 08756528 core:AfterOneYear 2025-10-31 08756528 core:AfterOneYear 2024-10-31 08756528 core:ShareCapital 2025-10-31 08756528 core:ShareCapital 2024-10-31 08756528 core:RetainedEarningsAccumulatedLosses 2025-10-31 08756528 core:RetainedEarningsAccumulatedLosses 2024-10-31 08756528 bus:Director1 2024-11-01 2025-10-31 08756528 bus:RegisteredOffice 2024-11-01 2025-10-31 08756528 core:LandBuildings 2024-11-01 2025-10-31 08756528 core:MotorVehicles 2024-11-01 2025-10-31 08756528 2023-11-01 2024-10-31 08756528 core:LandBuildings 2024-11-01 08756528 core:PlantMachinery 2024-11-01 08756528 2024-11-01 08756528 core:LandBuildings 2025-10-31 08756528 core:PlantMachinery 2025-10-31 08756528 core:PlantMachinery 2024-11-01 2025-10-31 08756528 core:LandBuildings 2024-10-31 08756528 core:PlantMachinery 2024-10-31 08756528 1 2024-11-01 2025-10-31 08756528 countries:EnglandWales 2024-11-01 2025-10-31 08756528 bus:AuditExemptWithAccountantsReport 2024-11-01 2025-10-31 08756528 bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 08756528 bus:SmallEntities 2024-11-01 2025-10-31 08756528 bus:FullAccounts 2024-11-01 2025-10-31
Company registration number:
08756528
Norfolk Properties Ltd
Unaudited Filleted Financial Statements for the year ended
31 October 2025
Ian Nelson BFP FCA CT CLCA
t/a VFM Direct 2U Chartered Accountant & Business Advisor
Karinya, Bungay Rd, Norwich, Norfolk, NR15 2NG, United Kingdom
Norfolk Properties Ltd
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Norfolk Properties Ltd
Year ended
31 October 2025
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Norfolk Properties Ltd
for the year ended
31 October 2025
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Norfolk Properties Ltd
, as a body, in accordance with the terms of my engagement letter dated 31 October 2023. My work has been undertaken solely to prepare for your approval the
financial statements
of
Norfolk Properties Ltd
and state those matters that I have agreed to state to the Board of Directors of
Norfolk Properties Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Norfolk Properties Ltd
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Norfolk Properties Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Norfolk Properties Ltd
. You consider that
Norfolk Properties Ltd
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Norfolk Properties Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Ian Nelson BFP FCA CT CLCA
t/a VFM Direct 2U Chartered Accountant & Business Advisor
Karinya
Bungay Rd
Norwich
Norfolk
NR15 2NG
United Kingdom
Date:
9 March 2026
Norfolk Properties Ltd
Statement of Financial Position
31 October 2025

|  | 2025 | 2024
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 5 | 520,000 |  | 501,459 |
Current assets |  |  |  |  |
Debtors | 6 | 3,240 |  | 2,300 |
Cash at bank and in hand |  | 20,014 |  | 44,060 |
|  | 23,254 |  | 46,360 |
Creditors: amounts falling due within one year | 7 | (25,750 | ) | (55,494 | )
Net current liabilities |  | (2,496 | ) | (9,134 | )
Total assets less current liabilities |  | 517,504 |  | 492,325 |
Creditors: amounts falling due after more than one year | 8 | (446,084 | ) | (442,648 | )
Provisions for liabilities |  | (6,920 | ) | (5,217 | )
Net assets |  | 64,500 |  | 44,460 |
Capital and reserves |  |  |  |  |
Called up share capital |  | 100 |  | 100 |
Profit and loss account |  | 64,400 |  | 44,360 |
Shareholders funds |  | 64,500 |  | 44,460 |

For the year ending
31 October 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
9 March 2026
, and are signed on behalf of the board by:

Mr M Harris
Director

Company registration number:
08756528
Norfolk Properties Ltd
Notes to the Financial Statements
Year ended
31 October 2025

## 1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
45 Soame Close
,
Aylsham
,
Norwich
,
Norfolk
,
NR11 6JF
, United Kingdom.

## 2 Statement of compliance

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

## 3 Accounting policies

## Basis of preparation

The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

## Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

## Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current 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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

## Tangible assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The assets‘ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings | 3% straight line
Motor vehicles | 16.67% straight line

## Investment properties

Investment property is carried at fair value determined annually by the directors 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. Changes in fair value are recognised in the Income Statement.

##

## 4 Average number of employees

The average number of persons employed by the company during the year was
2
(2024:
2.00
).

## 5 Tangible assets

| Land and buildings | Plant and machinery etc. | Total
--- | --- | --- | ---
| £ | £ | £
Cost or valuation |  |  |  |  |  |
At 1 November 2024 | 500,000 |  | 8,750 |  | 508,750 |
Revaluations | 20,000 |  | - |  | 20,000 |
At 31 October 2025 | 520,000 |  | 8,750 |  | 528,750 |
Depreciation |  |  |  |  |  |
At 1 November 2024 | - |  | 7,291 |  | 7,291 |
Charge | - |  | 1,459 |  | 1,459 |
At 31 October 2025 | - |  | 8,750 |  | 8,750 |
Carrying amount |  |  |  |  |  |
At 31 October 2025 | 520,000 |  | - |  | 520,000 |
At 31 October 2024 | 500,000 |  | 1,459 |  | 501,459 |

## Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:

| Land and buildings | Land and buildings
--- | --- | ---
| 2025 | 2024
| £ | £
Aggregate historical cost | 465,169 |  | 465,169 |
Aggregate depreciation | (73,159 | ) | (68,507 | )
Carrying amount | 392,010 |  | 396,662 |

## Investment property

Included in land and buildings are the following amounts in relation to investment properties:

| 2025
--- | ---
| £
Carrying amount at 1 November 2024 | 500,000.00 |
Fair value adjustments | 20,000 |
Carrying amount at 31 October 2025 | 520,000 |

## 6 Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Other debtors | 3,240 |  | 2,300 |

## 7 Creditors: amounts falling due within one year

| 2025 | 2024
--- | --- | ---
| £ | £
Trade creditors | 497 |  | 784 |
Taxation and social security | 2,997 |  | 3,003 |
Other creditors | 22,256 |  | 51,707 |
| 25,750 |  | 55,494 |

## 8 Creditors: amounts falling due after more than one year

| 2025 | 2024
--- | --- | ---
| £ | £
Bank loans and overdrafts | 395,794 |  | 395,794 |
Other creditors | 50,290 |  | 46,854 |
| 446,084 |  | 442,648 |

The amount of bank loans shown under creditors are secured by way of fixed charge against some of the investment properties of the company.
The aggregate amount of loans payable between 2 and 5 years is £10,000 (2024: £10,000) after more than 5 years was £436,084 (2024: £432,648).

## 9 Related party transactions

During the year the company entered into the following transactions with related parties:

| 2025 | 2024
--- | --- | ---
| £ | £
Amounts owed to director | 50,290 |  | 46,854 |

The above is repayable as follows: £10,000 within 2 to 5 years and the balance after more than 5 years, although the director has undertaken only to withdraw funds if the Company can pay without detriment to its trading cashflow. No interest has been charged to the Company by the director.

## 10 Controlling party

Throughout the year the Company has been under the control of its contolling shareholders M R Harris & E Lunny.

## 11 Going concern

The Directors are confident that the Company will continue in operation for the foreseeable future, being a period of at least 12 months from the date of signing of these financial statements. The financial statements have been prepared on a going concern basis.