North London Investments Limited 8417422 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of a property developer. Digita Accounts Production Advanced 6.30.9574.0 true 8417422 2022-04-01 2023-03-31 8417422 2023-03-31 8417422 bus:OrdinaryShareClass1 2023-03-31 8417422 core:CurrentFinancialInstruments 2023-03-31 8417422 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 8417422 bus:SmallEntities 2022-04-01 2023-03-31 8417422 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 8417422 bus:FullAccounts 2022-04-01 2023-03-31 8417422 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 8417422 bus:RegisteredOffice 2022-04-01 2023-03-31 8417422 bus:Director1 2022-04-01 2023-03-31 8417422 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 8417422 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 8417422 countries:England 2022-04-01 2023-03-31 8417422 2021-04-01 2022-03-31 8417422 2022-03-31 8417422 bus:OrdinaryShareClass1 2022-03-31 8417422 core:CurrentFinancialInstruments 2022-03-31 8417422 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 8417422

North London Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

North London Investments Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

North London Investments Limited

(Registration number: 8417422)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

-

565,111

Cash at bank and in hand

 

100

100

 

100

565,211

Creditors: Amounts falling due within one year

5

-

(535,716)

Net assets

 

100

29,495

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

-

29,395

Shareholders' funds

 

100

29,495

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 February 2024
 

.........................................
G Philippou
Director

 

North London Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1st Floor Woodgate Studios
2-8 Games Road
Cockfosters
Barnet
Hertfordshire
EN4 9HN

These financial statements were authorised for issue by the director on 22 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

 

North London Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Trade creditors

Creditors with no stated interest rate and payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

-

548,758

Other debtors

 

-

16,353

 

-

565,111

 

North London Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

-

53,068

Trade creditors

 

-

4,946

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

360,168

Other creditors

 

-

117,534

 

-

535,716

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

53,068