IRIS Accounts Production v24.1.0.578 09371732 director 1.10.22 30.9.23 30.9.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093717322022-09-30093717322023-09-30093717322022-10-012023-09-30093717322021-12-31093717322022-01-012022-09-30093717322022-09-3009371732ns15:EnglandWales2022-10-012023-09-3009371732ns14:PoundSterling2022-10-012023-09-3009371732ns10:Director12022-10-012023-09-3009371732ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3009371732ns10:SmallEntities2022-10-012023-09-3009371732ns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3009371732ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3009371732ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-3009371732ns10:FullAccounts2022-10-012023-09-3009371732ns5:CurrentFinancialInstruments2023-09-3009371732ns5:CurrentFinancialInstruments2022-09-3009371732ns5:Non-currentFinancialInstruments2023-09-3009371732ns5:Non-currentFinancialInstruments2022-09-3009371732ns5:ShareCapital2023-09-3009371732ns5:ShareCapital2022-09-3009371732ns5:RetainedEarningsAccumulatedLosses2023-09-3009371732ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3009371732ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-30
REGISTERED NUMBER: 09371732 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

NORTH309 LIMITED

NORTH309 LIMITED (REGISTERED NUMBER: 09371732)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


NORTH309 LIMITED (REGISTERED NUMBER: 09371732)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,200,000 3,200,000

CURRENT ASSETS
Debtors 5 92,778 91,311
Cash at bank 21,125 26,738
113,903 118,049
CREDITORS
Amounts falling due within one year 6 34,149 44,969
NET CURRENT ASSETS 79,754 73,080
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,279,754

3,273,080

CREDITORS
Amounts falling due after more than one
year

7

3,570,490

3,549,032
NET LIABILITIES (290,736 ) (275,952 )

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (290,936 ) (276,152 )
(290,736 ) (275,952 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

NORTH309 LIMITED (REGISTERED NUMBER: 09371732)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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 director and authorised for issue on 12 April 2024 and were signed by:





R A Scribante - Director


NORTH309 LIMITED (REGISTERED NUMBER: 09371732)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

North309 Limited is a private company, limited by shares, registered in England and Wales, registered number 09371732. Its registered office is 4 Ashford Close, Woodstock, Oxfordshire, OX20 1TFF

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial liabilities, including trade and other debtors and creditors, bank loans, group loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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.

NORTH309 LIMITED (REGISTERED NUMBER: 09371732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Going concern
The accounts have been drawn up on the going concern basis. The company's ongoing activities are dependent upon the continued support of its parent company, who has undertaken that this support will be given for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 3,200,000
Additions 44,498
Revaluations (44,498 )
At 30 September 2023 3,200,000
NET BOOK VALUE
At 30 September 2023 3,200,000
At 30 September 2022 3,200,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2022 (38,543 )
Valuation in 2023 (44,498 )
Cost 3,283,041
3,200,000



5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
as restated
£    £   
Trade debtors 11,403 22,222
Other debtors 81,375 69,089
92,778 91,311

NORTH309 LIMITED (REGISTERED NUMBER: 09371732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
as restated
£    £   
Trade creditors - 42
Other creditors 34,149 44,927
34,149 44,969

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
as restated
£    £   
Amounts owed to group undertakings 3,570,490 3,549,032