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REGISTERED NUMBER: 11953114 (England and Wales)















NORTH GROUP (LINCS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023






NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


NORTH GROUP (LINCS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: L J North
L C North



REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF



REGISTERED NUMBER: 11953114 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



BANKERS: Lloyds Bank
2 North Gate
Sleaford
Lincolnshire
NG347BL

NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,196 74,232

CURRENT ASSETS
Stocks 204,125 113,259
Debtors 5 240,075 93,927
Cash at bank 185,469 65,445
629,669 272,631
CREDITORS
Amounts falling due within one year 6 276,301 109,245
NET CURRENT ASSETS 353,368 163,386
TOTAL ASSETS LESS CURRENT LIABILITIES 418,564 237,618

CREDITORS
Amounts falling due after more than one year 7 (42,434 ) (63,772 )

PROVISIONS FOR LIABILITIES (13,738 ) (17,021 )
NET ASSETS 362,392 156,825

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 362,292 156,725
SHAREHOLDERS' FUNDS 362,392 156,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2024 and were signed on its behalf by:




L J North - Director



L C North - Director


NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

North Group (Lincs) 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.

Turnover
Turnover represents the fair value of consideration received for the provision of electrical engineering and contracting services, excluding value added tax. Income is recognised in the period in which the services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% on cost

Tangible fixed assets are held at cost less accumulated depreciation.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
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 7 (2022 - 6 ) .

NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 6,830 3,009 95,863 2,433 108,135
Additions 5,312 3,898 - 783 9,993
At 30 April 2023 12,142 6,907 95,863 3,216 118,128
DEPRECIATION
At 1 May 2022 683 1,116 30,199 1,905 33,903
Charge for year 1,214 759 16,416 640 19,029
At 30 April 2023 1,897 1,875 46,615 2,545 52,932
NET BOOK VALUE
At 30 April 2023 10,245 5,032 49,248 671 65,196
At 30 April 2022 6,147 1,893 65,664 528 74,232

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 169,527 75,990
Other debtors 69,665 13,812
Prepayments and accrued income 883 4,125
240,075 93,927

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 10,729 9,015
Trade creditors 110,049 27,901
Taxation 62,179 11,875
Other taxes and social security 33,863 2,090
Directors' current accounts 46,881 46,064
Accruals and deferred income 2,600 2,300
276,301 109,245

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 11,667 21,667
Hire purchase contracts 20,767 32,105
42,434 63,772

NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 31,496 41,120

Hire purchase contracts are secured on the asset to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100