REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
NORTHERN SERVICES LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
NORTHERN SERVICES LIMITED |
NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
NORTHERN SERVICES LIMITED |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
11 Slayleigh Avenue |
Sheffield |
South Yorkshire |
S10 3RA |
NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163) |
Balance Sheet |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( | ) | ( | ) |
PROVISIONS FOR LIABILITIES | 10 | ( | ) | ( | ) |
NET ASSETS | 3,683,108 | 3,540,942 |
NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163) |
Balance Sheet - continued |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 11 | 12,015 | 12,015 |
Non-distributable reserve | 12 | 1,485,855 | 1,125,913 |
Capital redemption reserve | 12 | 38,015 | 38,015 |
Retained earnings | 12 | 2,147,223 | 2,364,999 |
SHAREHOLDERS' FUNDS | 3,683,108 | 3,540,942 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Northern Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover comprises the invoiced value of rental income from the company's investment property portfolio, excluding value added tax. Rental income is recognised in accordance with each underlying lease agreement. |
Tangible fixed assets |
Fixtures and fittings | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Investment property |
Investment properties for which fair value can be measured reliably without undue cost of effort are measured at fair value at each reporting date, with changes in fair value recognised in the statement of comprehensive income. |
Debtors and creditors due within one year |
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income within administrative expenses. |
Impairment |
At each balance sheet date, assets are reviewed to determine whether there is any indication that any of the individual assets have suffered an impairment. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the statement of comprehensive income. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Investment | and |
properties | fittings | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2022 |
Additions |
Disposals | ( | ) | ( | ) |
Revaluations | ( | ) | ( | ) |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 July 2023 is represented by: |
Fixtures |
Investment | and |
properties | fittings | Totals |
£ | £ | £ |
Valuation in 2022 | 1,553,038 | - | 1,553,038 |
Cost | 3,377,612 | 33,559 | 3,411,171 |
4,930,650 | 33,559 | 4,964,209 |
Investment properties were valued on an open market basis in February 2022, by Sanderson Weatherall Chartered Surveyors and, in the case of land at Smithy Lane, by Bruton Knowles Chartered Surveyors. The director considers that these valuations represent the market value of the investment properties at the year end. |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 August 2022 |
and 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade debtors |
Other debtors |
NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
VAT |
Other creditors |
Accruals & deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans |
The bank loans are secured by first legal charges over the specific investment properties of industrial unit, Shawfield Road, Barnsley; 1 Carr Green Lane, Barnsley; Shawfield 3 industrial units, Barnsley; land and buildings at Smithy Lane (south east of Hill End Road), Barnsley. The bank also hold an unlimited debenture. |
10. | PROVISIONS FOR LIABILITIES |
31.7.23 | 31.7.22 |
£ | £ |
Deferred tax | 69,444 | 92,202 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Provided during year | ( | ) |
Balance at 31 July 2023 |
NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.23 | 31.7.22 |
value: | £ | £ |
12,015 | Ordinary | £1 | 12,015 | 12,015 |
12. | RESERVES |
Capital |
Retained | Non-distributable | redemption |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 August 2022 | 1,125,913 | 38,015 |
Profit for the year |
Dividends | ( | ) | ( | ) |
Re-classification | ( | ) | 359,942 | - |
At 31 July 2023 | 1,485,855 | 38,015 | 3,671,093 |