Nortonthorpe Industrial Park Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03072747 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Nortonthorpe Industrial Park Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

Mr E A Brook

SECRETARY:

Mrs H M Woodhead

REGISTERED OFFICE:

Nortonthorpe Mills

Scissett

Huddersfield

West Yorkshire

HD8 9LA

REGISTERED NUMBER:

03072747 (England and Wales)

ACCOUNTANTS:

Harris & Co Limited

Chartered Accountants

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

FIXED ASSETS

Intangible assets

5

1

1

Tangible assets

6

161,668

85,747

Investment property

7

2,450,000

2,626,679

2,611,669

2,712,427

CURRENT ASSETS

Stocks

235,000

300,000

Debtors

8

1,082,131

632,556

Cash at bank

257,601

211,802

1,574,732

1,144,358

CREDITORS

Amounts falling due within one year

9

292,569

247,953

NET CURRENT ASSETS

1,282,163

896,405

TOTAL ASSETS LESS CURRENT LIABILITIES

3,893,832

3,608,832

PROVISIONS FOR LIABILITIES

141,663

143,670

NET ASSETS

3,752,169

3,465,162

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Share premium

1,049,002

1,049,002

Fair value reserve

12

117,415

117,415

Retained earnings

2,584,752

2,297,745

SHAREHOLDERS' FUNDS

3,752,169

3,465,162

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 11 October 2019 and were signed by:

Mr E A Brook - Director

1.	STATUTORY INFORMATION

Nortonthorpe Industrial Park Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found on the

Company Information page.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis under the historical cost

convention, modified to include certain items at fair value.

Significant judgements and estimates

The principal accounting policies and significant judgements and estimates applied in the preparation

of these financial statements are set out below. These policies, judgements and estimates have been

consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents amounts received from rents and services provided during the year.

Goodwill

Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance

Sheet and amortised over its useful economic life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on cost straight line

All fixed assets are initially recorded at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

1

NET BOOK VALUE

At 31 March 2019

1

At 31 March 2018

1

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2018

161,807

32,112

193,919

Additions

37,655

84,227

121,882

Disposals

(17,000

)

(29,612

)

(46,612

)

At 31 March 2019

182,462

86,727

269,189

DEPRECIATION

At 1 April 2018

104,053

4,119

108,172

Charge for year

9,374

9,983

19,357

Eliminated on disposal

(16,306

)

(3,702

)

(20,008

)

At 31 March 2019

97,121

10,400

107,521

NET BOOK VALUE

At 31 March 2019

85,341

76,327

161,668

At 31 March 2018

57,754

27,993

85,747

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

2,626,679

Disposals

(176,679

)

At 31 March 2019

2,450,000

NET BOOK VALUE

At 31 March 2019

2,450,000

At 31 March 2018

2,626,679

The investment property was valued by M J Scholey BSc MRICS on behalf of Eddisons Commercial

Ltd at £6,000,000 in April 2008. After taking professional advice at 31 March 2014 the company's

investment property portfolio has been revalued to £2,450,000 by the director. The director considers

that there has been no material change in the value of the investment portfolio since that date up to the

balance sheet date. A further property was acquired in January 2016 and is therefore not included in

the aforementioned valuation. This property is included in the accounts at cost which in the opinion of

the director is not materially different from the market value at the balance sheet date. The said

property was sold during the year ended 31 March 2019.

8.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

249,112

219,250

Other debtors

503,019

228,306

752,131

447,556

2019

2018

£

£

Amounts falling due after more than one year:

Amounts owed by participating interests

330,000

185,000

Aggregate amounts

1,082,131

632,556

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

6,700

39,960

Taxation and social security

108,721

78,737

Other creditors

177,148

129,256

292,569

247,953

10.	SECURED DEBTS

Barclays Bank Plc hold a charge over land and buildings for the overdraft facility of the company. The

director, Mr E A Brook, has also provided a personal guarantee of £100,000.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.

RESERVES

Fair

value

reserve

£

At 1 April 2018

and 31 March 2019

117,415

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

2019

2018

£

£

Mr E A Brook

Balance outstanding at start of year

216,616

96,253

Amounts advanced

674,102

355,363

Amounts repaid

(775,000

)

(235,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

115,718

216,616

Interest was charged on the above account at a rate of 2.5%.