Company Registration No. 6997128 (England and Wales)
Northern Star Flooring Limited
Unaudited accounts
for the year ended 30 June 2023
Northern Star Flooring Limited
Unaudited accounts
Contents
Northern Star Flooring Limited
Company Information
for the year ended 30 June 2023
Directors
Mr B J Brooker
Mr A T Scott
Mr R J Gamble
Company Number
6997128 (England and Wales)
Registered Office
Unit 7a
Tokenspire Business Park
Woodmansey
Beverley
HU17 0TB
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
Northern Star Flooring Limited
Statement of financial position
as at 30 June 2023
Intangible assets
10,000
18,000
Tangible assets
131,076
133,883
Cash at bank and in hand
162,404
4,487
Creditors: amounts falling due within one year
(463,031)
(216,645)
Net current assets
56,496
86,211
Total assets less current liabilities
197,572
238,094
Creditors: amounts falling due after more than one year
(141,894)
(153,859)
Provisions for liabilities
Deferred tax
(24,905)
(25,438)
Called up share capital
403
400
Share premium
12,475
12,475
Profit and loss account
17,895
45,922
Shareholders' funds
30,773
58,797
For the year ending 30 June 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 directors acknowledge their 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 of Directors and authorised for issue on 11 September 2023 and were signed on its behalf by
Mr B J Brooker
Director
Company Registration No. 6997128
Northern Star Flooring Limited
Notes to the Accounts
for the year ended 30 June 2023
Northern Star Flooring Limited is a private company, limited by shares, registered in England and Wales, registration number 6997128. The registered office is Unit 7a, Tokenspire Business Park, Woodmansey, Beverley, HU17 0TB.
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.
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:
Plant & machinery
25% cost
Fixtures & fittings
25% wdv
Computer equipment
25% wdv
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Northern Star Flooring Limited
Notes to the Accounts
for the year ended 30 June 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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.
Expenditure on research and development is written off in the year in which it is incurred.
4
Intangible fixed assets
Goodwill
Northern Star Flooring Limited
Notes to the Accounts
for the year ended 30 June 2023
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2022
96,506
91,641
53,253
7,203
248,603
Additions
6,634
21,250
8,176
693
36,753
At 30 June 2023
103,140
112,891
61,429
7,896
285,356
At 1 July 2022
38,101
32,112
38,536
5,971
114,720
Charge for the year
21,468
13,323
4,288
481
39,560
At 30 June 2023
59,569
45,435
42,824
6,452
154,280
At 30 June 2023
43,571
67,456
18,605
1,444
131,076
At 30 June 2022
58,405
59,529
14,717
1,232
133,883
Amounts falling due within one year
Trade debtors
269,681
250,648
Other debtors
2,124
19,853
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
30,794
16,051
Obligations under finance leases and hire purchase contracts
18,655
18,931
Trade creditors
281,597
160,967
Taxes and social security
91,606
12,526
Loans from directors
132
572
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
133,712
127,022
Obligations under finance leases and hire purchase contracts
8,182
26,837
Northern Star Flooring Limited
Notes to the Accounts
for the year ended 30 June 2023
Allotted, called up and fully paid:
400 Ordinary shares of £1 each
400
400
Shares issued during the period:
10
Average number of employees
During the year the average number of employees was 8 (2022: 8).