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Company Registration No. 04531606 (England and Wales)
Northgates Limited Unaudited accounts for the year ended 31 December 2023
Northgates Limited Unaudited accounts Contents
Page
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Northgates Limited Company Information for the year ended 31 December 2023
Director
Peter Scragg
Secretary
Elizabeth Scragg
Company Number
04531606 (England and Wales)
Registered Office
4 Hyde Lane Upper Beeding Steyning West Sussex BN44 3WJ United Kingdom
Accountants
JP Accountancy Services (Sussex) Limited 5 Fairfield Way Ashington Pulborough West Sussex RH20 3LA
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Northgates Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
626 
862 
Current assets
Debtors
54,621 
51,086 
Cash at bank and in hand
230,778 
214,584 
285,399 
265,670 
Creditors: amounts falling due within one year
(60,310)
(102,773)
Net current assets
225,089 
162,897 
Total assets less current liabilities
225,715 
163,759 
Provisions for liabilities
Deferred tax
(156)
(164)
Net assets
225,559 
163,595 
Capital and reserves
Called up share capital
50 
50 
Capital redemption reserve
50 
50 
Profit and loss account
225,459 
163,495 
Shareholders' funds
225,559 
163,595 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 March 2024 and were signed on its behalf by
Peter Scragg Director Company Registration No. 04531606
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Northgates Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Northgates Limited is a private company, limited by shares, registered in England and Wales, registration number 04531606. The registered office is 4 Hyde Lane, Upper Beeding, Steyning, West Sussex, BN44 3WJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
15% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill. Goodwill is now fully amortised.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Northgates Limited Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2023
10,900 
At 31 December 2023
10,900 
Amortisation
At 1 January 2023
10,900 
At 31 December 2023
10,900 
Net book value
At 31 December 2023
- 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2023
17,569 
At 31 December 2023
17,569 
Depreciation
At 1 January 2023
16,707 
Charge for the year
236 
At 31 December 2023
16,943 
Net book value
At 31 December 2023
626 
At 31 December 2022
862 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
52,145 
49,778 
Accrued income and prepayments
2,476 
1,308 
54,621 
51,086 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
28,375 
21,641 
Trade creditors
658 
120 
Taxes and social security
(17)
39,041 
Other creditors
72 
376 
Loans from directors
30,672 
40,972 
Accruals
550 
623 
60,310 
102,773 
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Northgates Limited Notes to the Accounts for the year ended 31 December 2023
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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