Norwich House (Epsom) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07920702 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 January 2016

for

Norwich House (Epsom) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

S Pawson

SECRETARY:

Mrs M Graham

REGISTERED OFFICE:

6 Marlborough Place

Brighton

East Sussex

BN1 1UB

REGISTERED NUMBER:

07920702 (England and Wales)

ACCOUNTANTS:

South Coast Accountancy Services Ltd

11 Dallington Road

Hove

East Sussex

BN3 5HS

CURRENT ASSETS

Stocks

1,245,612

1,495,302

Debtors

10,612

7,546

Cash at bank

35,824

2,098

1,292,048

1,504,946

CREDITORS

Amounts falling due within one year

2

159,392

1,531,738

NET CURRENT ASSETS/(LIABILITIES)

1,132,656

(26,792

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,132,656

(26,792

)

CREDITORS

Amounts falling due after more than one
year

2

1,169,250

-

NET LIABILITIES

(36,594

)

(26,792

)

CAPITAL AND RESERVES

Called up share capital

3

800

Profit and loss account

(37,394

)

(27,592

)

SHAREHOLDERS' FUNDS

(36,594

)

(26,792

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 26 October 2016 and were signed by:

S Pawson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Stocks

Trading and development properties are included in stocks and are stated at the lower of cost and net realisable

value. Disposals are recognised on completion; profits and losses arising are recognised through the profit and

loss account. If properties held for trading are appropriated to investment, they are transferred at book value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The directors and shareholders have

undertaken that they will continue to give financial support to the company for at least twelve months from the

date of signing these accounts. The directors therefore consider it appropriate to prepare the accounts on a going

concern basis.

2.

CREDITORS

Creditors include an amount of £ 1,169,250 (31.1.15 - £ 944,870 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.1.16

31.1.15

£

Repayable by instalments

1,169,250

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.16

31.1.15

value:

£

800

Ordinary

1.00

800