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REGISTERED NUMBER: 01060668 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

NORTHERN & CENTRAL
MACCLESFIELD LIMITED

NORTHERN & CENTRAL
MACCLESFIELD LIMITED (REGISTERED NUMBER: 01060668)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTHERN & CENTRAL
MACCLESFIELD LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2023







DIRECTORS: Mr D J Farrimond
Mrs P Farrimond
Mr D B Farrimond



SECRETARY: Mr D J Farrimond



REGISTERED OFFICE: 2nd Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY



REGISTERED NUMBER: 01060668 (England and Wales)



ACCOUNTANTS: Connaughton & Co
2nd Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY



BANKERS: National Westminster Bank plc
P.O. Box 65
2 Chestergate
Macclesfield
SK11 6BS

NORTHERN & CENTRAL
MACCLESFIELD LIMITED (REGISTERED NUMBER: 01060668)

BALANCE SHEET
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,161 35,005
Investment property 5 215,700 203,500
241,861 238,505

CURRENT ASSETS
Stocks 6 117,449 127,647
Debtors 7 111,285 78,585
Cash at bank and in hand 60,841 68,680
289,575 274,912
CREDITORS
Amounts falling due within one year 8 110,917 97,357
NET CURRENT ASSETS 178,658 177,555
TOTAL ASSETS LESS CURRENT
LIABILITIES

420,519

416,060

CREDITORS
Amounts falling due after more than one
year

9

(1,271

)

(4,321

)

PROVISIONS FOR LIABILITIES 10 (18,309 ) (12,613 )
NET ASSETS 400,939 399,126

CAPITAL AND RESERVES
Called up share capital 11 70,000 70,000
Retained earnings 12 330,939 329,126
SHAREHOLDERS' FUNDS 400,939 399,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

NORTHERN & CENTRAL
MACCLESFIELD LIMITED (REGISTERED NUMBER: 01060668)

BALANCE SHEET - continued
31 January 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 16 October 2023 and were signed on its behalf by:





Mr D B Farrimond - Director


NORTHERN & CENTRAL
MACCLESFIELD LIMITED (REGISTERED NUMBER: 01060668)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Northern & Central Macclesfield 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

NORTHERN & CENTRAL
MACCLESFIELD LIMITED (REGISTERED NUMBER: 01060668)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Office
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 9,816 26,582 45,000 93,842 175,240
Additions - - - 475 475
At 31 January 2023 9,816 26,582 45,000 94,317 175,715
DEPRECIATION
At 1 February 2022 8,848 26,127 20,590 84,670 140,235
Charge for year 97 68 6,102 3,052 9,319
At 31 January 2023 8,945 26,195 26,692 87,722 149,554
NET BOOK VALUE
At 31 January 2023 871 387 18,308 6,595 26,161
At 31 January 2022 968 455 24,410 9,172 35,005

NORTHERN & CENTRAL
MACCLESFIELD LIMITED (REGISTERED NUMBER: 01060668)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Office
equipment
£   
COST
At 1 February 2022
and 31 January 2023 9,150
DEPRECIATION
At 1 February 2022 2,288
Charge for year 2,287
At 31 January 2023 4,575
NET BOOK VALUE
At 31 January 2023 4,575
At 31 January 2022 6,862

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 203,500
Revaluations 12,200
At 31 January 2023 215,700
NET BOOK VALUE
At 31 January 2023 215,700
At 31 January 2022 203,500

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2017 25,386
Valuation in 2019 5,500
Valuation in 2020 1,400
Valuation in 2021 13,500
Valuation in 2022 20,600
Valuation in 2023 12,200
Cost 137,114
215,700

The directors deem this to be a fair value as at 31 January 2023.

6. STOCKS
31.1.23 31.1.22
£    £   
Goods for resale 117,449 127,647

NORTHERN & CENTRAL
MACCLESFIELD LIMITED (REGISTERED NUMBER: 01060668)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 92,901 62,419
Other debtors 2,286 2,286
Amounts due from fellow subsidiaries 4,307 2,486
Prepayments and accrued income 11,791 11,394
111,285 78,585

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Hire purchase contracts 3,050 3,050
Trade creditors 51,778 39,629
Tax 779 -
Social security and other taxes 3,784 3,673
VAT 16,132 15,462
Amounts owed to fellow subsidiaries 12,041 12,079
Amount owed to parent company 10,403 10,403
Accrued expenses 12,950 13,061
110,917 97,357

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Hire purchase contracts 1,271 4,321

10. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£    £   
Deferred tax 18,309 12,613

Deferred
tax
£   
Balance at 1 February 2022 12,613
Provided during year 5,696
Balance at 31 January 2023 18,309

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
65,000 Ordinary £1 65,000 65,000
5,000 Preference £1 5,000 5,000
70,000 70,000

NORTHERN & CENTRAL
MACCLESFIELD LIMITED (REGISTERED NUMBER: 01060668)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

12. RESERVES
Retained
earnings
£   

At 1 February 2022 329,126
Profit for the year 1,813
At 31 January 2023 330,939

13. RELATED PARTY DISCLOSURES

The company is controlled by its parent company N & C Group UK Limited. Transactions have taken place with the group companies listed below:

NAMERELATIONSHIP

N & C Group UK LimitedParent company
Northern & Central Wigan LimitedFellow subsidiary
Northern & Central Ormskirk LimitedFellow subsidiary
Northern & Central Buxton LimitedFellow subsidiary

Consultancy fees of £12,000 (2022 : £10,000) were payable to N & C Group UK Limited during the year. Other transactions which are considered to be material and which have not been disclosed elsewhere in the financial statements amounted to:

Sales Purchases
2023202220232022
£ £ £ £

Northern & Central Wigan Limited28,65335,241(5,374)(5,438)
Northern & Central Ormskirk Limited21,50422,58852,97564,391
Northern & Central Buxton Limited12,70419,0008,60220,014
62,86176,82956,20378,968

The above transactions were all performed at cost.

Amounts due to the ultimate parent company and amounts due to / from fellow subsidiaries are disclosed in notes 9 and 10 of the financial statements.

14. ULTIMATE CONTROLLING PARTY

The controlling party is N & C Group UK Limited.

N & C Group UK Limited, a company incorporated in the United Kingdom, is controlled by Mr D B Farrimond and members of his close family.