Noralle Traditional Country Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05806357 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

FOR

NORALLE TRADITIONAL COUNTRY HOMES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L Goring

C M Sharples

R Wilkes

SECRETARY:

Mrs L Goring

REGISTERED OFFICE:

Brooklands Cottage

Folly Lane

Napton

Southam

Warwickshire

CV47 8NZ

REGISTERED NUMBER:

05806357 (England and Wales)

ACCOUNTANTS:

Bernard Rogers & Co

Bank Gallery

High Street

Kenilworth

Warwickshire

CV8 1LY

FIXED ASSETS

Tangible assets

4

8,838

33,217

CURRENT ASSETS

Stocks

1,186,057

890,660

Debtors

5

623,653

758,645

Cash at bank and in hand

127,227

34,832

1,936,937

1,684,137

CREDITORS

Amounts falling due within one year

6

265,502

199,367

NET CURRENT ASSETS

1,671,435

1,484,770

TOTAL ASSETS LESS CURRENT LIABILITIES

1,680,273

1,517,987

CREDITORS

Amounts falling due after more than one year

7

(1,056,817

)

(825,706

)

PROVISIONS FOR LIABILITIES

(1,227

)

(5,253

)

NET ASSETS

622,229

687,028

CAPITAL AND RESERVES

Called up share capital

816

816

Capital redemption reserve

(99,641

)

(99,641

)

Retained earnings

721,054

785,853

SHAREHOLDERS' FUNDS

622,229

687,028

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 November 2020 and were signed on its behalf by:

Mrs L Goring - Director

1.	STATUTORY INFORMATION

Noralle Traditional Country Homes Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2019

182,990

Disposals

(6,000

)

At 31 August 2020

176,990

DEPRECIATION

At 1 September 2019

149,773

Charge for year

21,379

Eliminated on disposal

(3,000

)

At 31 August 2020

168,152

NET BOOK VALUE

At 31 August 2020

8,838

At 31 August 2019

33,217

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

95,307

171,198

Other debtors

528,346

587,447

623,653

758,645

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

58,075

24,659

Taxation and social security

20,016

7,694

Other creditors

187,411

167,014

265,502

199,367

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

1,056,817

825,706

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors are loans made by the company to Mr C M Sharples amounting to £nil (2019 £70,000). This has subsequently cleared.

9.	RELATED PARTY DISCLOSURES

Included in other creditors due after more than one year, are loans made to the company by B W Alsop (director resigned 24 June 2016) amounting to £199,908 (2019 £275,706). Interest has been charged on the loans during the year amounting to £6,321.

Included in other creditors are loans made to the company by Mrs L Goring amounting to £75,000 (2019 £75,000). Interest has been charged on the loans during the year amounting to £3,727.

Included in other creditors are loans made to the company by P A Alsop amounting to £100,000 (2019 £100,000). Interest has been charged on the loans during the year amounting to £4,205.

Interest is charged on loan balances at 4.5% above base rate.

The company operates from premises owned by B W Alsop (director resigned 24 June 2016), rent paid by the company during the year amounted to £10,080 (2019 £10,080).

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.