Netrose Properties Limited - Accounts to registrar (filleted) - small 18.2

Netrose Properties Limited - Accounts to registrar (filleted) - small 18.2

NETROSE PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 04504804 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

NETROSE PROPERTIES LIMITED

NETROSE PROPERTIES LIMITED (REGISTERED NUMBER: 04504804)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


NETROSE PROPERTIES LIMITED (REGISTERED NUMBER: 04504804)


STATEMENT OF FINANCIAL POSITION
31 MARCH 2021

31.3.21 31.3.20
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 270,000 270,000

CURRENT ASSETS
Debtors 5 5,453 3,962
Cash at bank 4,259 131,276
9,712 135,238
CREDITORS
Amounts falling due within one year 6 106,567 235,479
NET CURRENT LIABILITIES (96,855 ) (100,241 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
173,145
169,759

CAPITAL AND RESERVES
Called up share capital 7 2 2
Non-distributable reserves 8 4,468 4,468
Retained earnings 8 168,675 165,289
SHAREHOLDERS' FUNDS 173,145 169,759

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2021 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 notes form part of these financial statements

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NETROSE PROPERTIES LIMITED (REGISTERED NUMBER: 04504804)


STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2021


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 and authorised for issue on 28 May 2021 and were signed by:





J A Blake - Director


The notes form part of these financial statements

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NETROSE PROPERTIES LIMITED (REGISTERED NUMBER: 04504804)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021


1. STATUTORY INFORMATION

Netrose Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04504804

Registered office: Ratoath House
Hazelwood Close
Storrington
West Sussex
RH20 3HX

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


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

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.

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 statement of financial position date.


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NETROSE PROPERTIES LIMITED (REGISTERED NUMBER: 04504804)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 (2020 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2020
and 31 March 2021 270,000
NET BOOK VALUE
At 31 March 2021 270,000
At 31 March 2020 270,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2021 by the Director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 31 March 2021 is represented by:
£   
Valuation in 2021 270,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Amounts owed by group undertakings 5,453 3,962

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NETROSE PROPERTIES LIMITED (REGISTERED NUMBER: 04504804)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Taxation and social security 794 7,057
Other creditors 105,773 228,422
106,567 235,479

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.21 31.3.20
value: £    £   
2 ordinary 1.00 2 2

8. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 April 2020 165,289 4,468 169,757
Profit for the year 3,386 3,386
At 31 March 2021 168,675 4,468 173,143

9. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £3,898 (2020- £2,548) owed to Mr J A Blake, the managing director, by the company.
Included in debtors is an amount of £5,453 (2020- £3,962) owed by Walsingham Investments Ltd, the parent company.

10. PARENT COMPANY

The Parent company is Walsingham Investments Ltd, a company registered in the United Kingdom.

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