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REGISTERED NUMBER: 00516927 (England and Wales)


















C B North & Sons Storage Limited

Unaudited Financial Statements for the Year Ended 31st March 2018






C B North & Sons Storage Limited (Registered number: 00516927)






Contents of the Financial Statements
for the year ended 31st March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C B North & Sons Storage Limited

Company Information
for the year ended 31st March 2018







DIRECTORS: A C North
R J North
K S North





SECRETARY: K S North





REGISTERED OFFICE: 65 Hedon Road
Hull
East Yorkshire
HU9 1LW





REGISTERED NUMBER: 00516927 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

C B North & Sons Storage Limited (Registered number: 00516927)

Balance Sheet
31st March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 - -
Investment property 4 435,000 435,000
435,000 435,000

CURRENT ASSETS
Debtors 5 2,649 500
Cash at bank 56,846 120,859
59,495 121,359
CREDITORS
Amounts falling due within one year 6 23,446 92,985
NET CURRENT ASSETS 36,049 28,374
TOTAL ASSETS LESS CURRENT
LIABILITIES

471,049

463,374

CREDITORS
Amounts falling due after more than one
year

7

(65,800

)

(79,000

)

PROVISIONS FOR LIABILITIES 9 (9,606 ) (10,143 )
NET ASSETS 395,643 374,231

CAPITAL AND RESERVES
Called up share capital 10 100 100
Non-distributable reserves 11 112,716 112,179
Retained earnings 11 282,827 261,952
SHAREHOLDERS' FUNDS 395,643 374,231

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

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

C B North & Sons Storage Limited (Registered number: 00516927)

Balance Sheet - continued
31st March 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 5th November 2018 and were signed on
its behalf by:





R J North - Director


C B North & Sons Storage Limited (Registered number: 00516927)

Notes to the Financial Statements
for the year ended 31st March 2018

1. STATUTORY INFORMATION

C B North & Sons Storage 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.

The significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of value added
tax and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rent receivable
Rent receivable under operating leases is credited to the profit and loss account on a straight line basis
over the period of the lease.

Interest receivable
Interest income is recognised using the effective interest method.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation
and accumulated impairment losses. Cost includes costs directly attributable to making the asset
capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less
estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - straight line over 7 years

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are
measured at fair value at each reporting date with changes to fair value recognised in profit or loss.


C B North & Sons Storage Limited (Registered number: 00516927)

Notes to the Financial Statements - continued
for the year ended 31st March 2018

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss)
for the current or past recording periods. It is measured at the amount expected to be paid or
recovered using the tax rates and laws that have been enacted or substantively enacted by the
balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the
financial statements of current and previous periods. It is recognised in respect of all timing
differences, with certain exceptions. Timing differences are differences between taxable profits and
total comprehensive income as stated in the financial statements that arise from the inclusion of
income and expense in tax assessments in periods different from those in which they are recognised
in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantially enacted
by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax
on revalued non-depreciable tangible fixed assets and investment properties is measured using the
rates and allowances that apply to the sale of the asset.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transactions price. Any losses arising from impairment are recognised in the profit and loss
account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs.
Subsequently, they are measured at amortised cost using the effective interest rate method, less
impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount
exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is
carried at a revalued amount where the impairment loss is a revaluation decrease.

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2017
and 31st March 2018 7,000
DEPRECIATION
At 1st April 2017
and 31st March 2018 7,000
NET BOOK VALUE
At 31st March 2018 -

C B North & Sons Storage Limited (Registered number: 00516927)

Notes to the Financial Statements - continued
for the year ended 31st March 2018

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2017
and 31st March 2018 435,000
NET BOOK VALUE
At 31st March 2018 435,000
At 31st March 2017 435,000

Fair value at 31st March 2018 is represented by:

£   
Valuation in 2006 75,322
Valuation in 2017 47,000
Cost 312,678
435,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 2,149 500
Other debtors 500 -
2,649 500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 13,200 13,200
Taxation and social security 6,772 38,273
Other creditors 3,474 41,512
23,446 92,985

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Bank loans 65,800 79,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,000 26,200

C B North & Sons Storage Limited (Registered number: 00516927)

Notes to the Financial Statements - continued
for the year ended 31st March 2018

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 79,000 92,200

The loan is secured by a legal charge over the freehold properties.

9. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax 9,606 10,143

Deferred
tax
£   
Balance at 1st April 2017 10,143
Credit to Income Statement during year (537 )
Balance at 31st March 2018 9,606

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary shares £1 100 100

11. RESERVES

Called up share capital

Called up share capital represents the nominal value of shares that have been issued

Non-distributable reserves

The revaluation reserve represents the cumulate effect of revaluations of tangible fixed assets where a
policy of revaluation has been adopted.


Retained earnings

Retained earnings represents cumulative profits and losses net of dividends and other adjustments.