Norton Heath Limited - Accounts to registrar (filleted) - small 18.2
Norton Heath Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 29 March 2021 |
| for |
| Norton Heath Limited |
| Norton Heath Limited (Registered number: 10150335) |
| Contents of the Financial Statements |
| for the Year Ended 29 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| Norton Heath Limited |
| Company Information |
| for the Year Ended 29 March 2021 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Lakeview House |
| 4 Woodbrook Crescent |
| Billericay |
| Essex |
| CM12 0EQ |
| Norton Heath Limited (Registered number: 10150335) |
| Balance Sheet |
| 29 March 2021 |
| 29.3.21 | 29.3.20 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Norton Heath Limited (Registered number: 10150335) |
| Notes to the Financial Statements |
| for the Year Ended 29 March 2021 |
| 1. | STATUTORY INFORMATION |
| Norton Heath Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Whilst the accounts show a deficit of shareholders' funds the company is financially supported by the director and related company borrowings. The director considers it necessary and appropriate to prepare the accounts on a going concern basis. |
| Turnover |
| Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2020 - NIL). |
| Norton Heath Limited (Registered number: 10150335) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 March 2021 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 29.3.21 | 29.3.20 |
| £ | £ |
| Amounts owed by associates |
| Other debtors |
| Directors' current accounts | - | 243,465 |
| Tax |
| VAT |
| Prepayments and accrued income |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 29.3.21 | 29.3.20 |
| £ | £ |
| Other loans |
| Trade creditors |
| Amounts owed to associates | 283,037 | 1,239,449 |
| Tax |
| Other creditors |
| Directors' current accounts | 351,061 | - |
| Accrued expenses |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 29.3.21 | 29.3.20 |
| £ | £ |
| Other loans - 1-2 years |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 29.3.21 | 29.3.20 |
| £ | £ |
| Other loans |
| Balances held in other loans are secured by way of a fixed and floating charge over the freehold property known as Norton Heath Equestrian Centre, Fingrith Hall Lane, Ingatestone, Essex, CM4 OJP in favour of Srf Ii Lux S.À R.L. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 29.3.21 | 29.3.20 |
| value: | £ | £ |
| Ordinary | 1 | 100 | 100 |
| Norton Heath Limited (Registered number: 10150335) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 March 2021 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 29 March 2021 and 29 March 2020: |
| 29.3.21 | 29.3.20 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Loan interest is charged to the overdrawn director's account balance using HMRC approved rates. Interest of £891 (2020: £4,932) is recognised within the profit and loss account. |
| 10. | GOING CONCERN |
| Whilst the accounts show a deficit of shareholders' funds the company is financially supported by the director and related company borrowings. The director considers it necessary and appropriate to prepare the accounts on a going concern basis. |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Norton Heath Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norton Heath Limited for the year ended 29 March 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Norton Heath Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Norton Heath Limited and state those matters that we have agreed to state to the director of Norton Heath Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norton Heath Limited and its director for our work or for this report. |
| It is your duty to ensure that Norton Heath 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 Norton Heath Limited. You consider that Norton Heath Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Norton Heath 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. |
| Chartered Accountants |
| Lakeview House |
| 4 Woodbrook Crescent |
| Billericay |
| Essex |
| CM12 0EQ |