NORFOLK PROPERTIES LIMITED

NORFOLK PROPERTIES LIMITED

NORFOLK PROPERTIES LIMITED - Company Information

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NORFOLK PROPERTIES LIMITED

Company Registration Number:
08756528 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2022

Period of accounts

Start date: 01 November 2021

End date: 31 October 2022

NORFOLK PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2022

Balance sheet
Notes

NORFOLK PROPERTIES LIMITED

Balance sheet

As at 31 October 2022


Notes
2022
2021


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 4,375 416,450
Investments: 4 445,000 0
Total fixed assets: 449,375 416,450
Current assets
Stocks: 0 0
Debtors:   600 100
Cash at bank and in hand: 63,163 65,176
Investments:   0 0
Total current assets: 63,763 65,276
Creditors: amounts falling due within one year: 5 (127,446) (132,234)
Net current assets (liabilities): (63,683) (66,958)
Total assets less current liabilities: 385,692 349,492
Creditors: amounts falling due after more than one year: 6 (395,794) (396,064)
Provision for liabilities: (1,682) 0
Total net assets (liabilities): (11,784) (46,572)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (11,884) (46,672)
Shareholders funds: (11,784) (46,572)

The notes form part of these financial statements

NORFOLK PROPERTIES LIMITED

Balance sheet statements

For the year ending 31 October 2022 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 04 July 2023
and signed on behalf of the board by:

Name: M R Harris
Status: Director

The notes form part of these financial statements

NORFOLK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

1. Accounting policies

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

NORFOLK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

2. Employees

2022 2021
Average number of employees during the period 2 2

NORFOLK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

3. Tangible Assets

Total
Cost £
At 01 November 2021 473,919
Additions 0
Disposals 0
Revaluations 0
Transfers (465,169)
At 31 October 2022 8,750
Depreciation
At 01 November 2021 57,469
Charge for year 1,458
On disposals 0
Other adjustments (54,552)
At 31 October 2022 4,375
Net book value
At 31 October 2022 4,375
At 31 October 2021 416,450

NORFOLK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

4. Fixed investments

Freehold Investment PropertyAt 1 November 2021 - £0Transfer from fixed assets in year £410,617Change in fair value in year £34,383At 31 October 2022 £445,000The 2022 valuations were made by the directors, on an open market value for existing use basis.

NORFOLK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

5. Creditors: amounts falling due within one year note

2022 2021Trade creditors £ 492 £ -Deferred income £ 790 £ 1,619Other creditors £124,603 £ 118,731Accruals £ 1,561 £ 11,884Total £127,446 £132,234

NORFOLK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

6. Creditors: amounts falling due after more than one year note

Loans 2022 2021Amounts falling due within one year £124,603 £118,016Amounts falling due 1-2 years - -Amounts falling due 2-5 years - -Amounts falling due after 5 years £395,794 £396,064Total £520,397 £514,080The amount of loans shown under creditors are secured by way of fixed charge against some of the investment properties of the company.

NORFOLK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

7. Changes in presentation and prior period adjustments

The directors consider that the freehold properties owned by the Company are held with a view to investment and therefore have, during the year, changed the classification in the financial statements from fixed assets to investment properties.

NORFOLK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

8. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: At the year end, included in other credtors, is a balance of £124,603 (2021: £118,016) owed to the director by the Company, which is repayable on demand, although the director has undertaken only to withdraw funds if the Company can pay without detriment to its trading cashflow. No interest has beencharged to the Company by the director.
£
Balance at 01 November 2021 118,016
Balance at 31 October 2022 124,603