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REGISTERED NUMBER: 06904478 (England and Wales)















GREAT NORTHERN WORKS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018






GREAT NORTHERN WORKS LIMITED (REGISTERED NUMBER: 06904478)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GREAT NORTHERN WORKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2018







DIRECTORS: F J Norman
M Norman
E J Norman
J F P Norman





REGISTERED OFFICE: Great Northern Works
Hartham Lane
Hertford
Hertfordshire
SG14 1QW





REGISTERED NUMBER: 06904478 (England and Wales)

GREAT NORTHERN WORKS LIMITED (REGISTERED NUMBER: 06904478)

BALANCE SHEET
31 JULY 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,942,748 1,161,000

CURRENT ASSETS
Debtors 5 63,483 27,667
Cash at bank 206,764 278,278
270,247 305,945
CREDITORS
Amounts falling due within one year 6 1,204,199 441,752
NET CURRENT LIABILITIES (933,952 ) (135,807 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,008,796

1,025,193

PROVISIONS FOR LIABILITIES 62,885 70,000
NET ASSETS 945,911 955,193

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Share premium 1,051,695 1,051,695
Retained earnings (107,784 ) (98,502 )
SHAREHOLDERS' FUNDS 945,911 955,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

GREAT NORTHERN WORKS LIMITED (REGISTERED NUMBER: 06904478)

BALANCE SHEET - continued
31 JULY 2018


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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 November 2018 and were signed on
its behalf by:





F J Norman - Director


GREAT NORTHERN WORKS LIMITED (REGISTERED NUMBER: 06904478)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018


1. STATUTORY INFORMATION

Great Northern Works 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling (£) which is also the functional currency for the
company.

Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of
accounting is appropriate because there are no material uncertainties related to events or conditions
that may cast significant doubt about the ability of the company to continue as a going concern on the
understanding that the directors will continue to support the company.

Significant judgements and estimates
The preparation of financial statements requires management to make judgements, estimates and
assumptions about the carrying values of assets and liabilities that are not readily apparent from other
sources. The estimates and underlying assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and
value added taxes. Turnover includes revenue earned from rental income.

Investment property
The investment property owned by the company is included at fair value. Gains are recognised in the
income statement. Deferred taxation is provided on these gains at the rate expected to apply when the
property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement
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 for the amount of income tax payable in respect of the taxable profit for the
current or past reporting periods using tax rates that have been enacted or substantively enacted by
the reporting date.


GREAT NORTHERN WORKS LIMITED (REGISTERED NUMBER: 06904478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2018


3. ACCOUNTING POLICIES - continued
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.

Trade and other debtors
Trade and other debtors are measured at transaction price less any impairment unless the
arrangement constitutes a financing transaction in which case the transaction is measured at the
present value of the future receipts discounted at the prevailing market rate of interest . Loans are
initially measured at fair value and are subsequently measured at amortised cost using the effective
interest method less any impairment.

Trade and other creditors
Trade and other creditors are measured at their transaction price unless the arrangement constitutes a
financing transaction in which case the transaction is measured at present value of future payments
discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair
value net of their transaction costs. They are subsequently measured at amortised cost using the
effective interest method.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term
deposits with an original maturity date of three months or less.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2017 1,161,000
Additions 781,748
At 31 July 2018 1,942,748
NET BOOK VALUE
At 31 July 2018 1,942,748
At 31 July 2017 1,161,000

Fair value at 31 July 2018 is represented by:

£   
Valuation in 2017 (42,397 )
Valuation in 2016 (7,862 )
Cost 1,993,007
1,942,748

GREAT NORTHERN WORKS LIMITED (REGISTERED NUMBER: 06904478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2018


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 32,480 23,189
Other debtors 31,003 4,478
63,483 27,667

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 1,960 50
Taxation and social security 1,782 767
Other creditors 1,200,457 440,935
1,204,199 441,752

7. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Directors' loans 857,129 100,000

Directors' loans of £857,129 (2017 - £100,000) are secured by a floating charge on the company's
property, rights and assets.