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REGISTERED NUMBER: 04598992 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

NORTHERN IKON LIMITED

NORTHERN IKON LIMITED (REGISTERED NUMBER: 04598992)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NORTHERN IKON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Mr P Drummond
Mrs C Drummond





SECRETARY: Mrs C Drummond





REGISTERED OFFICE: Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ





REGISTERED NUMBER: 04598992 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

NORTHERN IKON LIMITED (REGISTERED NUMBER: 04598992)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £ £

CREDITORS
Amounts falling due within one year 4 459,810 453,673
NET CURRENT LIABILITIES (459,810 ) (453,673 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(459,810

)

(453,673

)

CAPITAL AND RESERVES
Called up share capital 4 4
Share premium 49,998 49,998
Retained earnings (509,812 ) (503,675 )
(459,810 ) (453,673 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 3 March 2024 and were signed on its behalf by:





Mrs C Drummond - Director


NORTHERN IKON LIMITED (REGISTERED NUMBER: 04598992)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Northern Ikon 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements relate to Northern Ikon Limited as an individual entity.

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.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Going concern
The financial statements have been prepared on the going concern basis. The company reports a loss for the year, a net current liabilities position and negative shareholders' funds. The company is not actively trading. However, the company is expected to receive funds from the administration of its subsidiary company in due course. Debts are currently being settled as they fall due with the assistance of the directors. The directors will continue to support the business so that it has sufficient resources to continue for the foreseeable future, until funds are received from the administration, or trade recommences, which is at least 12 months from the date of signing the balance sheet. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements

3. EMPLOYEES AND DIRECTORS

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

NORTHERN IKON LIMITED (REGISTERED NUMBER: 04598992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors - 11,820
Amounts owed to group undertakings 425,875 415,783
Taxation and social security 2,551 12,001
Other creditors 31,384 14,069
459,810 453,673

5. CONTINGENT LIABILITIES

The company has given guarantees in respect of the borrowings of its subsidiary, Hornscastle Executive Travel Limited, which are secured by fixed and floating charges over the company's assets.

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Other creditors includes loans of £30,245 (2022: £12,045 ) from the directors. The loan is interest-free and has no fixed term for repayment.