NORMIC DEVELOPMENT COMPANY LIMITED

NORMIC DEVELOPMENT COMPANY LIMITED

NORMIC DEVELOPMENT COMPANY LIMITED - Company Information

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NORMIC DEVELOPMENT COMPANY LIMITED

Company Registration Number:
00483640 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2020

Period of accounts

Start date: 01 May 2019

End date: 30 April 2020

NORMIC DEVELOPMENT COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2020

Balance sheet
Notes

NORMIC DEVELOPMENT COMPANY LIMITED

Balance sheet

As at 30 April 2020


Notes
2020
2019


£
£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 2,947,998 2,948,747
Investments: 4 3,336,162 4,294,725
Total fixed assets: 6,284,160 7,243,472
Current assets
Cash at bank and in hand: 1,537,663 1,878,754
Total current assets: 1,537,663 1,878,754
Creditors: amounts falling due within one year: 5 (283,386) (315,240)
Net current assets (liabilities): 1,254,277 1,563,514
Total assets less current liabilities: 7,538,437 8,806,986
Provision for liabilities: (322,231) (587,748)
Total net assets (liabilities): 7,216,206 8,219,238
Capital and reserves
Called up share capital: 47,600 47,600
Profit and loss account: 7,168,606 8,171,638
Shareholders funds: 7,216,206 8,219,238

The notes form part of these financial statements

NORMIC DEVELOPMENT COMPANY LIMITED

Balance sheet statements

For the year ending 30 April 2020 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 August 2020
and signed on behalf of the board by:

Name: J N Healey
Status: Director

The notes form part of these financial statements

NORMIC DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

NORMIC DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2020

2. Employees

2020 2019
Average number of employees during the period 2 2

NORMIC DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2020

3. Tangible Assets

Total
Cost £
At 01 May 2019 2,959,295
At 30 April 2020 2,959,295
Depreciation
At 01 May 2019 10,548
Charge for year 749
At 30 April 2020 11,297
Net book value
At 30 April 2020 2,947,998
At 30 April 2019 2,948,747

NORMIC DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2020

4. Fixed investments

Investment includes an amount of £1,413,206.83 (2019 - £15,753 which is related to devaluation of market value of the share investment at the balance sheet date.)

NORMIC DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2020

5. Creditors: amounts falling due within one year note

Corporation Tax 2020: £5,107 (2019: £32,268)Social security and other taxes 2020: £901 (2019: £901)Other creditors 2020: £277,378 (2019: £282,071)

NORMIC DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2020

6. Related party transactions

Name of the related party: J N Healey
Relationship:
Director
Description of the Transaction: At the balance sheet date the company owed £90,000 (2019: £90,000 to J N Healey. These are interest bearing loans at a rate of interest of 10% per annum, repayable on demand.)
£
Balance at 01 May 2019 90,000
Balance at 30 April 2020 90,000