Norse Homes Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 08280085 (England and Wales)

NORSE HOMES LIMITED

Abbreviated Unaudited Accounts

for the Period

5 November 2012 to 30 November 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

Chartered Accountants' Report

5

DIRECTOR:

S R Brandon

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

08280085 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis

Chartered Accountants

and Business Advisers

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

CURRENT ASSETS

Stocks

132,191

Debtors

30

132,221

CREDITORS

Amounts falling due within one year

133,415

NET CURRENT LIABILITIES

(1,194

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,194

)

CAPITAL AND RESERVES

Called up share capital

2

150

Profit and loss account

(1,344

)

SHAREHOLDERS' FUNDS

(1,194

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2013.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 30 June 2014 and were signed by:

S R Brandon - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Stocks

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

slow moving items.

Deferred tax

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

balance sheet date.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

150

Ordinary

1

150

150 Ordinary shares of 1 each were allotted and fully paid for cash at par during the period.

3.	RELATED PARTY DISCLOSURES

Langar Investments Limited

Parent Company

During the year, Langar Investments Limited paid expenses totalling £132,695 on behalf of Norse Homes

Limited. Also during the year Langar Investments Limited received shares totalling £120 in Norse Homes

Limited which remained unpaid at the year end.

£

Amount due to related party at the balance sheet date

132,575

TD Ventures Limited

A minority shareholder

During the year, TD Ventures Limited received shares totalling £15 in Norse Homes Limited which remained

unpaid at the year end.

£

Amount due from related party at the balance sheet date

15

NL3 Limited

A minority shareholder

During the year, NL3 Limited received shares totalling £15 in Norse Homes Limited which remained unpaid at

the year end.

£

Amount due from related party at the balance sheet date

15

4.	ULTIMATE CONTROLLING PARTY

The controlling party is Langar Investments Limited.

The ultimate controlling party is S R Brandon.

5.	GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes that the company will

continue in operational existence for the foreseeable future, the validity of which depends on the continued

support of the company's director, bankers and external investors.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Norse Homes Limited for the period ended 30 November 2013 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Norse Homes Limited in accordance with our terms of engagement. Our

work has been undertaken solely to prepare for your approval the financial statements of Norse Homes Limited and

state those matters that we have agreed to state to the director of Norse Homes Limited in this report in accordance

with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or

assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Norse Homes Limited 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 loss of Norse Homes

Limited. You consider that Norse Homes Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Norse Homes Limited. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial

statements.

Duncan & Toplis

Chartered Accountants

and Business Advisers

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

30 June 2014