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REGISTERED NUMBER: 07701874 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

52 DEGREES NORTH (CHELTENHAM) LTD

52 DEGREES NORTH (CHELTENHAM) LTD (REGISTERED NUMBER: 07701874)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 January 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


52 DEGREES NORTH (CHELTENHAM) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 January 2023







DIRECTOR: Mr D C Grundy





REGISTERED OFFICE: 4 Old Park Lane
Mayfair
London
W1K 1QW





REGISTERED NUMBER: 07701874 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX

52 DEGREES NORTH (CHELTENHAM) LTD (REGISTERED NUMBER: 07701874)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,500 4,375

CURRENT ASSETS
Stocks 72,000 -
Debtors 5 200 89
Cash at bank 656 697
72,856 786
CREDITORS
Amounts falling due within one year 6 180,906 150,258
NET CURRENT LIABILITIES (108,050 ) (149,472 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(104,550

)

(145,097

)

CREDITORS
Amounts falling due after more than one year 7 31,889 32,408
NET LIABILITIES (136,439 ) (177,505 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (136,440 ) (177,506 )
SHAREHOLDERS' FUNDS (136,439 ) (177,505 )

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 director acknowledges his 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.

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 director and authorised for issue on 24 October 2023 and were signed by:





Mr D C Grundy - Director


52 DEGREES NORTH (CHELTENHAM) LTD (REGISTERED NUMBER: 07701874)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 January 2023

1. STATUTORY INFORMATION

52 Degrees North (Cheltenham) Ltd 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 6,335 14,681 21,016
DEPRECIATION
At 1 February 2022 4,887 11,754 16,641
Charge for year 290 585 875
At 31 January 2023 5,177 12,339 17,516
NET BOOK VALUE
At 31 January 2023 1,158 2,342 3,500
At 31 January 2022 1,448 2,927 4,375

52 DEGREES NORTH (CHELTENHAM) LTD (REGISTERED NUMBER: 07701874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 January 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 200 89

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 1,500 183
Pensions payable 42 42
Company Credit Card - 19
Directors' current accounts 169,864 140,514
Accrued expenses 1,500 1,500
180,906 150,258

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 31,889 32,408

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is an amount due to the director of £169,864 (2022 - £140,514). This amount is interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D C Grundy.