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REGISTERED NUMBER: 01572163 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31 July 2023

for


NORTHERN SERVICES LIMITED


NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)








Contents of the Financial Statements

for the Year Ended 31 July 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





NORTHERN SERVICES LIMITED



Company Information

for the Year Ended 31 July 2023









DIRECTOR:

C P Marsh







REGISTERED OFFICE:

2 Hornes Lane


Staincross


Barnsley


South Yorkshire


S75 6LQ







REGISTERED NUMBER:

01572163 (England and Wales)







ACCOUNTANTS:

S Burgess & Co Ltd


11 Slayleigh Avenue


Sheffield


South Yorkshire


S10 3RA


NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)



Balance Sheet

31 July 2023



31.7.23

31.7.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

4,939,818


4,895,000



Investments

5

991


991



4,940,809


4,895,991




CURRENT ASSETS

Debtors

6

11,684


3,836



Cash at bank

368,732


600,756



380,416


604,592



CREDITORS

Amounts falling due within one year

7

230,630


423,395



NET CURRENT ASSETS

149,786


181,197



TOTAL ASSETS LESS CURRENT

LIABILITIES

5,090,595


5,077,188




CREDITORS

Amounts falling due after more than one

year

8

(1,338,043

)

(1,444,044

)



PROVISIONS FOR LIABILITIES

10

(69,444

)

(92,202

)


NET ASSETS

3,683,108


3,540,942




NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)



Balance Sheet - continued

31 July 2023



31.7.23

31.7.22



Notes

£   

£   

£   

£   


CAPITAL AND RESERVES

Called up share capital

11

12,015


12,015



Non-distributable reserve

12

1,485,855


1,125,913



Capital redemption reserve

12

38,015


38,015



Retained earnings

12

2,147,223


2,364,999



SHAREHOLDERS' FUNDS

3,683,108


3,540,942




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


The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 17 January 2024 and were signed by:






C P Marsh - Director



NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)



Notes to the Financial Statements

for the Year Ended 31 July 2023


1.

STATUTORY INFORMATION



Northern Services 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.    


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.


Turnover

Turnover comprises the invoiced value of rental income from the company's investment property portfolio, excluding value added tax. Rental income is recognised in accordance with each underlying lease agreement.


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



Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.


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 SERVICES LIMITED (REGISTERED NUMBER: 01572163)



Notes to the Financial Statements - continued

for the Year Ended 31 July 2023


2.

ACCOUNTING POLICIES - continued



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.


Investment property

Investment properties for which fair value can be measured reliably without undue cost of effort are measured at fair value at each reporting date, with changes in fair value recognised in the statement of comprehensive income.


Debtors and creditors due within one year

Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income within administrative expenses.


Impairment

At each balance sheet date, assets are reviewed to determine whether there is any indication that any of the individual assets have suffered an impairment. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the statement of comprehensive income.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 2 (2022 - 2 ) .


4.

TANGIBLE FIXED ASSETS


Fixtures



Investment


and



properties


fittings


Totals

£   

£   

£   



COST OR VALUATION


At 1 August 2022

4,895,000


22,099


4,917,099




Additions

330,979


11,460


342,439




Disposals

(200,000

)

-


(200,000

)



Revaluations

(95,329

)

-


(95,329

)



At 31 July 2023

4,930,650


33,559


4,964,209




DEPRECIATION


At 1 August 2022

-


22,099


22,099




Charge for year

-


2,292


2,292




At 31 July 2023

-


24,391


24,391




NET BOOK VALUE


At 31 July 2023

4,930,650


9,168


4,939,818




At 31 July 2022

4,895,000


-


4,895,000




NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)



Notes to the Financial Statements - continued

for the Year Ended 31 July 2023


4.

TANGIBLE FIXED ASSETS - continued



Cost or valuation at 31 July 2023 is represented by:



Fixtures



Investment


and



properties


fittings


Totals

£   

£   

£   



Valuation in 2022

1,553,038


-


1,553,038




Cost

3,377,612


33,559


3,411,171



4,930,650


33,559


4,964,209




Investment properties were valued on an open market basis in February 2022, by Sanderson Weatherall Chartered Surveyors and, in the case of land at Smithy Lane, by Bruton Knowles Chartered Surveyors. The director considers that these valuations represent the market value of the investment properties at the year end.

5.

FIXED ASSET INVESTMENTS


Shares in


group


undertakings

£   



COST


At 1 August 2022


and 31 July 2023

991




NET BOOK VALUE


At 31 July 2023

991




At 31 July 2022

991




6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.7.23


31.7.22

£   

£   



Trade debtors

4,684


2,486




Other debtors

7,000


1,350



11,684


3,836




NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)



Notes to the Financial Statements - continued

for the Year Ended 31 July 2023


7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.7.23


31.7.22

£   

£   



Bank loans and overdrafts

106,000


280,816




Trade creditors

344


205




Amounts owed to group undertakings

-


918




Corporation tax

89,118


107,300




Social security and other taxes

752


725




VAT

14,991


13,868




Other creditors

15,425


13,925




Accruals & deferred income

4,000


5,638



230,630


423,395




8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN

ONE YEAR



31.7.23


31.7.22

£   

£   



Bank loans

1,338,043


1,444,044




9.

SECURED DEBTS



The following secured debts are included within creditors:



31.7.23


31.7.22

£   

£   



Bank loans

1,444,043


1,724,860





The bank loans are secured by first legal charges over the specific investment properties of industrial unit, Shawfield Road, Barnsley; 1 Carr Green Lane, Barnsley; Shawfield 3 industrial units, Barnsley; land and buildings at Smithy Lane (south east of Hill End Road), Barnsley. The bank also hold an unlimited debenture.


10.

PROVISIONS FOR LIABILITIES


31.7.23


31.7.22

£   

£   



Deferred tax

69,444


92,202





Deferred



tax


£   



Balance at 1 August 2022

92,202




Provided during year

(22,758

)



Balance at 31 July 2023

69,444




NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)



Notes to the Financial Statements - continued

for the Year Ended 31 July 2023


11.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.7.23


31.7.22


value:

£   

£   



12,015

Ordinary

£1

12,015


12,015




12.

RESERVES


Capital



Retained


Non-distributable


redemption



earnings


reserve


reserve


Totals

£   

£   

£   

£   




At 1 August 2022

2,364,999


1,125,913


38,015


3,528,927




Profit for the year

200,837


200,837




Dividends

(58,671

)

(58,671

)



Re-classification

(359,942

)

359,942


-


-




At 31 July 2023

2,147,223


1,485,855


38,015


3,671,093