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Company Registration No. 10758658 (England and Wales)
Northern Space & Security Ltd. Unaudited accounts for the year ended 31 May 2022
Northern Space & Security Ltd. Statement of financial position as at 31 May 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
81,916 
56,501 
Current assets
Inventories
104,657 
46,935 
Debtors
66,993 
8,061 
Cash at bank and in hand
176,813 
95,563 
348,463 
150,559 
Creditors: amounts falling due within one year
(241,252)
(89,153)
Net current assets
107,211 
61,406 
Total assets less current liabilities
189,127 
117,907 
Creditors: amounts falling due after more than one year
(35,000)
(50,000)
Provisions for liabilities
Deferred tax
(18,116)
(14,125)
Net assets
136,011 
53,782 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
135,911 
53,682 
Shareholders' funds
136,011 
53,782 
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2022 and were signed on its behalf by
Ralph Mark Dinsley Director Company Registration No. 10758658
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Northern Space & Security Ltd. Notes to the Accounts for the year ended 31 May 2022
1
Statutory information
Northern Space & Security Ltd. is a private company, limited by shares, registered in England and Wales, registration number 10758658. The registered office is 5A, Linnet Court Cawledge Business Park, Hawfinch Drive, Alnwick, Northumberland, NE66 2GD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 May 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2020. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% on straight line
Plant & machinery
25% on reducing balance
Fixtures & fittings
20% on reducing balance
Computer equipment
20% on straight line
- 3 -
Northern Space & Security Ltd. Notes to the Accounts for the year ended 31 May 2022
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 June 2021
- 
36,865 
2,657 
27,466 
66,988 
Additions
9,650 
2,707 
840 
28,998 
42,195 
At 31 May 2022
9,650 
39,572 
3,497 
56,464 
109,183 
Depreciation
At 1 June 2021
- 
4,277 
300 
5,910 
10,487 
Charge for the year
362 
8,628 
505 
7,285 
16,780 
At 31 May 2022
362 
12,905 
805 
13,195 
27,267 
Net book value
At 31 May 2022
9,288 
26,667 
2,692 
43,269 
81,916 
At 31 May 2021
- 
32,588 
2,357 
21,556 
56,501 
5
Debtors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade debtors
39,700 
- 
Accrued income and prepayments
16,771 
8,061 
Other debtors
10,522 
- 
66,993 
8,061 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
10,000 
- 
VAT
91,928 
- 
Trade creditors
11,924 
- 
Taxes and social security
50,828 
73,232 
Other creditors
- 
1,808 
Loans from directors
- 
478 
Accruals
76,572 
13,635 
241,252 
89,153 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
35,000 
50,000 
- 4 -
Northern Space & Security Ltd. Notes to the Accounts for the year ended 31 May 2022
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Director's loan account
- 
26,000 
15,000 
11,000 
- 
26,000 
15,000 
11,000 
Short term loan to director, repayable on demand.
9
Average number of employees
During the year the average number of employees was 17 (2021: 12).
- 5 -