Nortonthorpe Industrial Park Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03072747 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Nortonthorpe Industrial Park Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr E A Brook

Mrs H M Woodhead

SECRETARY:

Mrs H M Woodhead

REGISTERED OFFICE:

Nortonthorpe Mills

Scissett

Huddersfield

West Yorkshire

HD8 9LA

REGISTERED NUMBER:

03072747 (England and Wales)

ACCOUNTANTS:

Harris & Co Limited

Chartered Accountants

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

FIXED ASSETS

Intangible assets

5

1

1

Tangible assets

6

132,155

178,993

Investment property

7

2,450,000

2,450,000

2,582,156

2,628,994

CURRENT ASSETS

Debtors

8

2,111,831

1,621,407

Cash at bank

79,805

482,620

2,191,636

2,104,027

CREDITORS

Amounts falling due within one year

9

501,267

447,649

NET CURRENT ASSETS

1,690,369

1,656,378

TOTAL ASSETS LESS CURRENT LIABILITIES

4,272,525

4,285,372

PROVISIONS FOR LIABILITIES

161,920

162,890

NET ASSETS

4,110,605

4,122,482

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Share premium

1,049,002

1,049,002

Fair value reserve

12

117,415

117,415

Retained earnings

2,943,188

2,955,065

SHAREHOLDERS' FUNDS

4,110,605

4,122,482

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2023 and were signed on its behalf by:

Mr E A Brook - Director

1.	STATUTORY INFORMATION

Nortonthorpe Industrial Park Limited 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

Significant judgements and estimates

The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents amounts received from rents and services provided during the year.

Goodwill

Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

15% on reducing balance

Motor vehicles

-

Between 20% & 25% on cost straight line

All fixed assets are initially recorded at cost.

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 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

1

NET BOOK VALUE

At 31 March 2023

1

At 31 March 2022

1

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2022

252,778

90,020

342,798

Additions

13,020

43,000

56,020

Disposals

(10,000

)

(70,500

)

(80,500

)

At 31 March 2023

255,798

62,520

318,318

DEPRECIATION

At 1 April 2022

138,308

25,497

163,805

Charge for year

18,235

9,400

27,635

Eliminated on disposal

(4,704

)

(573

)

(5,277

)

At 31 March 2023

151,839

34,324

186,163

NET BOOK VALUE

At 31 March 2023

103,959

28,196

132,155

At 31 March 2022

114,470

64,523

178,993

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

2,450,000

NET BOOK VALUE

At 31 March 2023

2,450,000

At 31 March 2022

2,450,000

The investment property was valued by M J Scholey BSc MRICS on behalf of Eddisons Commercial Ltd at £6,000,000 in April 2008. After taking professional advice at 31 March 2014 the company's investment property portfolio has been revalued to £2,450,000 by the director. The director considers that there has been no material change in the value of the investment portfolio since that date up to the balance sheet date.

8.

DEBTORS

2023

2022

£

£

Amounts falling due within one year:

Trade debtors

328,911

389,965

Other debtors

1,430,920

836,442

1,759,831

1,226,407

Amounts falling due after more than one year:

Amounts owed by participating interests

352,000

395,000

Aggregate amounts

2,111,831

1,621,407

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

27,880

63,807

Taxation and social security

223,548

168,919

Other creditors

249,839

214,923

501,267

447,649

10.	SECURED DEBTS

Barclays Bank Plc hold a charge over land and buildings for the overdraft facility of the company. The director, Mr E A Brook, has also provided a personal guarantee of £100,000.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.

RESERVES

Fair

value

reserve

£

At 1 April 2022

and 31 March 2023

117,415

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

Mr E A Brook

Balance outstanding at start of year

23,506

179,446

Amounts advanced

344,515

654,060

Amounts repaid

(180,500

)

(810,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

187,521

23,506

Interest was charged on the above account at a rate of 2%.