Norwich Freehold Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07375705 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

NORWICH FREEHOLD MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G N Hudson

REGISTERED OFFICE:

2 Church Road

Swainsthorpe

Norwich

Norfolk

NR14 8PH

REGISTERED NUMBER:

07375705 (England and Wales)

ACCOUNTANTS:

Sexty & Co

Chartered Certified Accountants

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

FIXED ASSETS

Tangible assets

4

17,416

20,490

Investment property

5

793,094

402,770

810,510

423,260

CURRENT ASSETS

Debtors

6

85,031

72,258

Cash at bank

31,879

126,956

116,910

199,214

CREDITORS

Amounts falling due within one year

7

76,491

41,661

NET CURRENT ASSETS

40,419

157,553

TOTAL ASSETS LESS CURRENT LIABILITIES

850,929

580,813

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

850,928

580,812

SHAREHOLDERS' FUNDS

850,929

580,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 July 2020 and were signed by:

G N Hudson - Director

1.	STATUTORY INFORMATION

Norwich Freehold Management 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents ground rents and insurance monies received in respect of the company's freehold

property.

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 etc

-

15% on reducing balance

Investment property

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

28,360

DEPRECIATION

At 1 April 2019

7,870

Charge for year

3,074

At 31 March 2020

10,944

NET BOOK VALUE

At 31 March 2020

17,416

At 31 March 2019

20,490

5.	INVESTMENT PROPERTY

The director has valued the investment properties at 31 March 2020 and considers the value at the

balance sheet date to be £793,094.

Cost or valuation at 31 March 2020 is represented by:

£

Valuation in 2020

4,306

Cost

788,788

793,094

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

13,481

1,000

Other debtors

71,550

71,258

85,031

72,258

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

408

-

Taxation and social security

40,700

32,000

Other creditors

35,383

9,661

76,491

41,661

8.	RELATED PARTY DISCLOSURES