Company registration number 12499037 (England and Wales)
NORTHERN STAR INVESTMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
NORTHERN STAR INVESTMENT LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
NORTHERN STAR INVESTMENT LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr V Carp
Company number
12499037
Registered office
57 Dakota Drive
Bristol
BS14 0TE
Accountants
TC Group
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
NORTHERN STAR INVESTMENT LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
348,000
328,000
Current assets
Debtors
4
3,320
1,752
Cash at bank and in hand
6,957
7,365
10,277
9,117
Creditors: amounts falling due within one year
5
(132,053)
(140,684)
Net current liabilities
(121,776)
(131,567)
Total assets less current liabilities
226,224
196,433
Creditors: amounts falling due after more than one year
6
(198,900)
(198,900)
Provisions for liabilities
(2,239)
-
0
Net assets/(liabilities)
25,085
(2,467)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
7
24,985
(2,567)
Total equity
25,085
(2,467)
NORTHERN STAR INVESTMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 3 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 18 December 2023
Mr V Carp
Director
Company Registration No. 12499037
NORTHERN STAR INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Company information

Northern Star Investment Limited is a private company limited by shares incorporated in England and Wales. The registered office is 57 Dakota Drive, Bristol, BS14 0TE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.3
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

NORTHERN STAR INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.4
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Investment property
2023
£
Fair value
At 1 July 2022
328,000
Revaluations
20,000
At 30 June 2023
348,000
NORTHERN STAR INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
3
Investment property
(Continued)
- 6 -

Fair value at 30 June 2023 is represented by:

 

Valuation in 2022                                    £(8,214)

Valuation in 2023                                    £20,000

Cost                                        £336,214

Valuation                                        £348,000

 

The valuation of the investment property has been made by examining recent sale prices of similar properties in the area and current list prices with a degree of judgement of market conditions at the balance sheet date.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
3,320
191
2023
2022
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
1,561
Total debtors
3,320
1,752
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
2,663
959
Other creditors
129,390
139,725
132,053
140,684

 

NORTHERN STAR INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
198,900
198,900
7
Profit and loss reserves

Within retained earnings is a balance of £9,547 in relation to the revaluation of investment property and is therefore not distributable.

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