false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2019-04-01
Sage Accounts Production Advanced 2019 - FRS102_2019
88,708
4,435
8,871
13,306
75,402
84,273
100
100
100
xbrli:pure
xbrli:shares
iso4217:GBP
11472251
2019-04-01
2020-03-31
11472251
2020-03-31
11472251
2019-03-31
11472251
2019-03-31
11472251
bus:Director1
2019-04-01
2020-03-31
11472251
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-03-31
11472251
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-03-31
11472251
core:WithinOneYear
2020-03-31
11472251
core:WithinOneYear
2019-03-31
11472251
core:AfterOneYear
2020-03-31
11472251
core:AfterOneYear
2019-03-31
11472251
core:ShareCapital
2020-03-31
11472251
core:ShareCapital
2019-03-31
11472251
core:RetainedEarningsAccumulatedLosses
2020-03-31
11472251
core:RetainedEarningsAccumulatedLosses
2019-03-31
11472251
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-04-01
2020-03-31
11472251
core:CostValuation
core:Non-currentFinancialInstruments
2020-03-31
11472251
core:Non-currentFinancialInstruments
2020-03-31
11472251
core:Non-currentFinancialInstruments
2019-03-31
11472251
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-03-31
11472251
bus:SmallEntities
2019-04-01
2020-03-31
11472251
bus:AuditExemptWithAccountantsReport
2019-04-01
2020-03-31
11472251
bus:FullAccounts
2019-04-01
2020-03-31
11472251
bus:SmallCompaniesRegimeForAccounts
2019-04-01
2020-03-31
11472251
bus:PrivateLimitedCompanyLtd
2019-04-01
2020-03-31
COMPANY REGISTRATION NUMBER:
11472251
NWG Property Holdings Limited
|
|
Filleted Unaudited Financial Statements
|
|
NWG Property Holdings Limited
|
|
31 March 2020
Fixed assets
Tangible assets
|
4
|
75,402
|
84,273
|
Investments
|
5
|
100
|
100
|
|
--------
|
--------
|
|
75,502
|
84,373
|
|
|
|
|
Current assets
Cash at bank and in hand
|
14,289
|
3,750
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
36,133
|
28,278
|
|
--------
|
--------
|
Net current liabilities
|
21,844
|
24,528
|
|
--------
|
--------
|
Total assets less current liabilities
|
53,658
|
59,845
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
7
|
53,083
|
60,083
|
|
--------
|
--------
|
Net assets/(liabilities)
|
575
|
(
238)
|
|
--------
|
--------
|
|
|
|
|
Capital and reserves
Called up share capital
|
240
|
240
|
Profit and loss account
|
335
|
(
478)
|
|
----
|
----
|
Shareholders funds/(deficit)
|
575
|
(
238)
|
|
----
|
----
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
NWG Property Holdings Limited
|
|
Balance Sheet (continued)
|
|
31 March 2020
These financial statements were approved by the
board of directors
and authorised for issue on
24 June 2020
, and are signed on behalf of the board by:
Mr N W J Glaister
|
|
Director
|
|
|
|
Company registration number:
11472251
NWG Property Holdings Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 March 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Oak Street, Fakenham, Norfolk, NR21 9DY.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold property
|
-
|
10 Years
|
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Tangible assets
|
Freehold property
|
|
£
|
Cost
|
|
At 1 April 2019 and 31 March 2020
|
88,708
|
|
--------
|
Depreciation
|
|
At 1 April 2019
|
4,435
|
Charge for the year
|
8,871
|
|
--------
|
At 31 March 2020
|
13,306
|
|
--------
|
Carrying amount
|
|
At 31 March 2020
|
75,402
|
|
--------
|
At 31 March 2019
|
84,273
|
|
--------
|
|
|
5.
Investments
|
Shares in group undertakings
|
|
£
|
Cost
|
|
At 1 April 2019 and 31 March 2020
|
100
|
|
----
|
Impairment
|
|
At 1 April 2019 and 31 March 2020
|
–
|
|
----
|
|
|
Carrying amount
|
|
At 31 March 2020
|
100
|
|
----
|
At 31 March 2019
|
100
|
|
----
|
|
|
6.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
26,142
|
19,450
|
Corporation tax
|
2,046
|
928
|
Other creditors
|
7,945
|
7,900
|
|
--------
|
--------
|
|
36,133
|
28,278
|
|
--------
|
--------
|
|
|
|
Included in other creditors is £7,000 (2019: £7,000) which is secured against the company.
7.
Creditors:
amounts falling due after more than one year
|
2020
|
2019
|
|
£
|
£
|
Bank loans and overdrafts
|
53,083
|
60,083
|
|
--------
|
--------
|
|
|
|
The amount of £53,083 (2019: £60,083) falling due after more than one year is secured against the company.