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REGISTERED NUMBER: 10174812 (England and Wales)















Nori Financial Limited

Unaudited Financial Statements for the Year Ended 31 May 2023






Nori Financial Limited (Registered number: 10174812)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Nori Financial Limited

Company Information
for the Year Ended 31 May 2023







Directors: Charlotte Elaine Thompson
Thomas Geoffrey Ian Thompson





Registered office: Suite 14
The Beehive Lions Drive
Shadsworth Industrial Estate
Blackburn
BB1 2QS





Registered number: 10174812 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Nori Financial Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nori Financial Limited for the year ended 31 May 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Nori Financial Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nori Financial Limited and state those matters that we have agreed to state to the Board of Directors of Nori Financial Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nori Financial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nori Financial Limited. You consider that Nori Financial Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nori Financial Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY


10 January 2024

Nori Financial Limited (Registered number: 10174812)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 348,268 343,556
Tangible assets 5 102,001 4,485
Investments 6 263,227 207,098
713,496 555,139

Current assets
Debtors 7 109,310 48,190
Cash at bank 334,610 326,808
443,920 374,998
Creditors
Amounts falling due within one year 8 142,176 214,913
Net current assets 301,744 160,085
Total assets less current liabilities 1,015,240 715,224

Creditors
Amounts falling due after more than
one year

9

(257,045

)

(160,800

)

Provisions for liabilities 10 (25,500 ) (1,121 )
Net assets 732,695 553,303

Nori Financial Limited (Registered number: 10174812)

Statement of Financial Position - continued
31 May 2023

2023 2022
Notes £    £    £    £   
Capital and reserves
Called up share capital 11 100 100
Revaluation reserve 39,945 (15,497 )
Retained earnings 692,650 568,700
Shareholders' funds 732,695 553,303

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

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

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 10 January 2024 and were signed on its behalf by:





Thomas Geoffrey Ian Thompson - Director


Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. Statutory information

Nori Financial 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 for pension planning and investment management services rendered.

Goodwill
Amortisation of goodwill has not been provided for by the company as in the opinion of the director it has an indefinite useful economic life. This accounting policy departs from the usual requirements of FRS 102 to amortise goodwill over a finite period. The effect of the departure is that amortisation as required by the requirements of FRS 102 has not been accounted for. If amortisation had been accounted for the charge for the year would have amounted to £36,270 and the profit for the year reduced accordingly.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. Accounting policies - continued
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting 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.

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.

Fixed asset investments
Quoted shares are valued at the quoted market price on the London Stock Exchange.

3. Employees and directors

The average number of employees during the year was 4 (2022 - 4 ) .

Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 June 2022 357,992
Additions 4,712
At 31 May 2023 362,704
Amortisation
At 1 June 2022
and 31 May 2023 14,436
Net book value
At 31 May 2023 348,268
At 31 May 2022 343,556

5. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 June 2022 8,297 - 6,364 14,661
Additions - 98,999 - 98,999
At 31 May 2023 8,297 98,999 6,364 113,660
Depreciation
At 1 June 2022 4,545 - 5,631 10,176
Charge for year 750 - 733 1,483
At 31 May 2023 5,295 - 6,364 11,659
Net book value
At 31 May 2023 3,002 98,999 - 102,001
At 31 May 2022 3,752 - 733 4,485

Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. Fixed asset investments
Other
investments
£   
Cost or valuation
At 1 June 2022 207,098
Additions 687
Revaluations 55,442
At 31 May 2023 263,227
Net book value
At 31 May 2023 263,227
At 31 May 2022 207,098

Cost or valuation at 31 May 2023 is represented by:

Other
investments
£   
Valuation in 2022 207,098
Valuation in 2023 55,442
Valuation in 2023 687
263,227

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 87,765 43,182
Other debtors 21,545 5,008
109,310 48,190

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 48,325 41,183
Trade creditors 16,870 8,031
Taxation and social security 61,549 74,686
Other creditors 15,432 91,013
142,176 214,913

Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Other creditors 257,045 160,800

Included within creditors: amount falling due after more than one year is an amount of £52412 in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

10. Provisions for liabilities
2023 2022
£    £   
Deferred tax 25,500 1,121

Deferred
tax
£   
Balance at 1 June 2022 1,121
Provided during year 24,379
Balance at 31 May 2023 25,500

11. Called up share capital

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

12. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Charlotte Elaine Thompson
Balance outstanding at start of year - -
Amounts advanced 8,257 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,257 -

Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

12. Directors' advances, credits and guarantees - continued

Thomas Geoffrey Ian Thompson
Balance outstanding at start of year - -
Amounts advanced 8,257 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,257 -