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COMPANY REGISTRATION NUMBER: 09601686
NORTH STREET EXETER LIMITED
Filleted Unaudited Financial Statements
31 May 2023
NORTH STREET EXETER LIMITED
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
737,419
725,565
Current assets
Cash at bank and in hand
100
231
Creditors: amounts falling due within one year
5
300,052
277,856
---------
---------
Net current liabilities
299,952
277,625
---------
---------
Total assets less current liabilities
437,467
447,940
Creditors: amounts falling due after more than one year
6
437,028
447,641
---------
---------
Net assets
439
299
---------
---------
NORTH STREET EXETER LIMITED
Statement of Financial Position (continued)
31 May 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
339
199
----
----
Shareholders funds
439
299
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 February 2024 , and are signed on behalf of the board by:
Mr J M C King
Director
Company registration number: 09601686
NORTH STREET EXETER LIMITED
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 46 The Ridgeway, North Harrow, Harrow, Middlesex, HA2 7QN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the amount of current tax which is recognised on taxable profit for the current and past periods.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
4. Tangible assets
Land and buildings
Building Development
Total
£
£
£
Cost
At 1 June 2022
603,148
122,417
725,565
Additions
11,854
11,854
---------
---------
---------
At 31 May 2023
603,148
134,271
737,419
---------
---------
---------
Depreciation
At 1 June 2022 and 31 May 2023
---------
---------
---------
Carrying amount
At 31 May 2023
603,148
134,271
737,419
---------
---------
---------
At 31 May 2022
603,148
122,417
725,565
---------
---------
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,000
5,000
Corporation tax
80
48
Other creditors
291,972
272,808
---------
---------
300,052
277,856
---------
---------
The bank loan of £6,000 (2022 - £5,000) is secured by fixed and floating charges over the company's assets.
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
437,028
447,641
---------
---------
The bank loan of £433,276 (2022 - £440,003) is secured by fixed and floating charges over the company's assets.