Norton Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01364716 (England and Wales)

NORTON ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Bryce

Mrs S V Lawson

SECRETARY:

Mrs P R Hibberd

REGISTERED OFFICE:

167 Turners Hill

Cheshunt

Hertfordshire

EN8 9BH

REGISTERED NUMBER:

01364716 (England and Wales)

ACCOUNTANTS:

Brindley Jacob

Chartered Accountants

167 Turners Hill

Cheshunt

Hertfordshire

EN8 9BH

BANKERS:

HSBC Bank plc

Cathedral Square

Peterborough

Cambridgeshire

PE1 1XL

FIXED ASSETS

Tangible assets

4

-

142

Investment property

5

500,000

500,000

500,000

500,142

CURRENT ASSETS

Debtors

253

250

Cash at bank

4,053

11,492

4,306

11,742

CREDITORS

Amounts falling due within one year

12,947

14,149

NET CURRENT LIABILITIES

(8,641

)

(2,407

)

TOTAL ASSETS LESS CURRENT LIABILITIES

491,359

497,735

CREDITORS

Amounts falling due after more than one year

6

(100,914

)

(104,361

)

PROVISIONS FOR LIABILITIES

(34,372

)

(30,754

)

NET ASSETS

356,073

362,620

CAPITAL AND RESERVES

Called up share capital

102

102

Revaluation reserve

8

146,534

150,152

Retained earnings

209,437

212,366

SHAREHOLDERS' FUNDS

356,073

362,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2021 and were signed on its behalf by:

J Bryce - Director

1.	STATUTORY INFORMATION

Norton Estates 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

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 Profit and Loss Account, 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 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2020

519

Disposals

(519

)

At 30 April 2021

-

DEPRECIATION

At 1 May 2020

377

Charge for year

22

Eliminated on disposal

(399

)

At 30 April 2021

-

NET BOOK VALUE

At 30 April 2021

-

At 30 April 2020

142

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2020

and 30 April 2021

500,000

NET BOOK VALUE

At 30 April 2021

500,000

At 30 April 2020

500,000

Fair value at 30 April 2021 is represented by:

£

Valuation in 2019

46,326

Valuation in 2018

134,580

Cost

319,094

500,000

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.4.21

30.4.20

£

£

Repayable by instalments

Bank loan over 5 years

87,242

93,832

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.21

30.4.20

£

£

Mortgage

103,561

107,094

The mortgage is secured against the Investment properties of the company.

8.

RESERVES

Revaluation

reserve

£

At 1 May 2020

150,152

Fair value reserve

(3,618

)

At 30 April 2021

146,534