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
Tangible assets
81,916
56,501
Inventories
104,657
46,935
Cash at bank and in hand
176,813
95,563
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)
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
Northern Space & Security Ltd.
Notes to the Accounts
for the year ended 31 May 2022
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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
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
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
Accrued income and prepayments
16,771
8,061
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
10,000
-
Taxes and social security
50,828
73,232
Loans from directors
-
478
7
Creditors: amounts falling due after more than one year
2022
2021
Northern Space & Security Ltd.
Notes to the Accounts
for the year ended 31 May 2022
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan account
-
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).