Norton Estates Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 01364716 (England and Wales)

NORTON ESTATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

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

196

376

Investment property

5

426,900

290,420

427,096

290,796

CURRENT ASSETS

Debtors

469

857

Cash at bank

1,757

10,248

2,226

11,105

CREDITORS

Amounts falling due within one year

14,231

10,048

NET CURRENT (LIABILITIES)/ASSETS

(12,005

)

1,057

TOTAL ASSETS LESS CURRENT LIABILITIES

415,091

291,853

CREDITORS

Amounts falling due after more than one year

6

64,681

71,298

NET ASSETS

350,410

220,555

CAPITAL AND RESERVES

Called up share capital

102

102

Revaluation reserve

8

134,580

-

Retained earnings

8

215,728

220,453

SHAREHOLDERS' FUNDS

350,410

220,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2018 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 on 28 June 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 comprises rents received and services supplied by the company, net of value added tax.

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 NIL (2017 - 1 ).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2017

849

Disposals

(330

)

At 30 April 2018

519

DEPRECIATION

At 1 May 2017

473

Charge for year

56

Eliminated on disposal

(206

)

At 30 April 2018

323

NET BOOK VALUE

At 30 April 2018

196

At 30 April 2017

376

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2017

290,420

Additions

1,900

Revaluations

134,580

At 30 April 2018

426,900

NET BOOK VALUE

At 30 April 2018

426,900

At 30 April 2017

290,420

Fair value at 30 April 2018 is represented by:

£

Valuation in 2018

134,580

Cost

292,320

426,900

The investment property was valued on an open market basis at year end by the director, a Chartered Surveyor.

The directors are of the opinion that the market value of the investment property is certainly not less than the

valuation shown in the Balance sheet.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.4.18

30.4.17

£

£

Repayable otherwise than by instalments

Bank loan over 5 years

35,424

43,343

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.18

30.4.17

£

£

Bank loans

71,210

77,536

8.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 May 2017

220,453

-

220,453

Profit for the year

2,575

2,575

Dividends

(7,300

)

(7,300

)

Revaluation of investment prop

-

134,580

134,580

At 30 April 2018

215,728

134,580

350,308