Company Registration No. 04531606 (England and Wales)
Northgates Limited
Unaudited accounts
for the year ended 31 December 2023
Northgates Limited
Unaudited accounts
Contents
Northgates Limited
Company Information
for the year ended 31 December 2023
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
Northgates Limited
Statement of financial position
as at 31 December 2023
Cash at bank and in hand
230,778
214,584
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
Net assets
225,559
163,595
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
Northgates Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (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 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.
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.
Northgates Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill
At 31 December 2023
10,900
At 31 December 2023
10,900
5
Tangible fixed assets
Computer equipment
At 31 December 2023
17,569
At 31 December 2023
16,943
Amounts falling due within one year
Trade debtors
52,145
49,778
Accrued income and prepayments
2,476
1,308
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
(17)
39,041
Loans from directors
30,672
40,972
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).