North Third Engineering Ltd SC549339 true 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is has been supplying electrical engineering. design and approval Digita Accounts Production Advanced 6.30.9574.0 true Ruth Rennie SC549339 2022-01-01 2022-12-31 SC549339 2022-12-31 SC549339 bus:OrdinaryShareClass1 2022-12-31 SC549339 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC549339 core:ShareCapital 2022-12-31 SC549339 core:CurrentFinancialInstruments 2022-12-31 SC549339 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 SC549339 core:FurnitureFittingsToolsEquipment 2022-12-31 SC549339 bus:FRS102 2022-01-01 2022-12-31 SC549339 bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 SC549339 bus:FullAccounts 2022-01-01 2022-12-31 SC549339 bus:RegisteredOffice 2022-01-01 2022-12-31 SC549339 bus:Director1 2022-01-01 2022-12-31 SC549339 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 SC549339 bus:EntityNoLongerTradingButTradedInPast 2022-01-01 2022-12-31 SC549339 bus:Consolidated 2022-01-01 2022-12-31 SC549339 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 SC549339 core:FurnitureFittingsToolsEquipment 2022-01-01 2022-12-31 SC549339 countries:Scotland 2022-01-01 2022-12-31 SC549339 2021-12-31 SC549339 core:FurnitureFittingsToolsEquipment 2021-12-31 SC549339 2021-12-31 SC549339 bus:OrdinaryShareClass1 2021-12-31 SC549339 core:RetainedEarningsAccumulatedLosses 2021-12-31 SC549339 core:ShareCapital 2021-12-31 SC549339 core:CurrentFinancialInstruments 2021-12-31 SC549339 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 SC549339 core:FurnitureFittingsToolsEquipment 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

FINANCIAL PERIOD DATA REFRESH REQUIRED
Select the Refresh button on the Summary or Disclosure tab

Registration number: SC549339

North Third Engineering Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

North Third Engineering Ltd

Profit and Loss Account for the Year Ended 31 December 2022

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

North Third Engineering Ltd

(Registration number: SC549339)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

3

1,000

1,000

Current assets

 

Debtors

4

1,816

-

Cash at bank and in hand

 

57

672

 

1,873

672

Creditors: Amounts falling due within one year

6

(16,610)

(15,410)

Net current liabilities

 

(14,737)

(14,738)

Net liabilities

 

(13,737)

(13,738)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(13,837)

(13,838)

Shareholders' deficit

 

(13,737)

(13,738)

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 13 October 2023
 

.........................................
Ruth Rennie
Director

 

North Third Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
11 Lawder Place
Dunblane
FK15 0NF

These financial statements were authorised for issue by the director on 13 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings, equipment

none appropriate for this year (20-50% p.a. reducing balance previously)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

North Third Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

North Third Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2022

3,208

3,208

At 31 December 2022

3,208

3,208

Depreciation

At 1 January 2022

2,208

2,208

At 31 December 2022

2,208

2,208

Carrying amount

At 31 December 2022

1,000

1,000

At 31 December 2021

1,000

1,000

4

Debtors

Current

2022
£

2021
£

Prepayments

1,816

-

5

Cash and cash equivalents

2022
£

2021
£

Cash at bank

57

672

6

Creditors

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

1,703

1,704

Social security and other taxes

 

3,818

3,818

Accruals

 

1,100

1,100

Income tax liability

9,989

8,788

 

16,610

15,410

 

North Third Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Director current account

1,703

1,704