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Registered number: 12637167
North Star Mortgage & Financial Services Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Unaudited Financial Statements
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—7
Page 1
Company Information
Directors Mrs Heather Lewis
Mr David Lewis
Company Number 12637167
Registered Office Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
SK9 4LY
Accountants Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of North Star Mortgage & Financial Services Ltd for the year ended 31 December 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of North Star Mortgage & Financial Services Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of North Star Mortgage & Financial Services Ltd , as a body, in accordance with the terms of our engagement letter dated 26 May 2022. Our work has been undertaken solely to prepare for your approval the accounts of North Star Mortgage & Financial Services Ltd and state those matters that we have agreed to state to the directors of North Star Mortgage & Financial Services Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North Star Mortgage & Financial Services Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that North Star Mortgage & Financial Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of North Star Mortgage & Financial Services Ltd . You consider that North Star Mortgage & Financial Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of North Star Mortgage & Financial Services Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
2nd April 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 2
Page 3
Balance Sheet
Registered number: 12637167
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 36,160 48,642
36,160 48,642
CURRENT ASSETS
Debtors 5 1,876 883
Cash at bank and in hand 9,316 15,693
11,192 16,576
Creditors: Amounts Falling Due Within One Year 6 (9,601 ) (20,227 )
NET CURRENT ASSETS (LIABILITIES) 1,591 (3,651 )
TOTAL ASSETS LESS CURRENT LIABILITIES 37,751 44,991
Creditors: Amounts Falling Due After More Than One Year 7 (33,319 ) (31,196 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (1,579 ) (1,269 )
NET ASSETS 2,853 12,526
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 2,851 12,524
SHAREHOLDERS' FUNDS 2,853 12,526
Page 3
Page 4
For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Heather Lewis
Director
2nd April 2024
The notes on pages 5 to 7 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
North Star Mortgage & Financial Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12637167 . The registered office is Unit 3, Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, SK9 4LY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The trading adress is 21 Toll Bar Road, Chester, CH3 5QU.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Computer Equipment 33% Straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 5
Page 6
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 3,156 50,195 4,185 57,536
Additions 239 - 259 498
As at 31 December 2023 3,395 50,195 4,444 58,034
Depreciation
As at 1 January 2023 892 5,400 2,602 8,894
Provided during the period 625 11,199 1,156 12,980
As at 31 December 2023 1,517 16,599 3,758 21,874
Net Book Value
As at 31 December 2023 1,878 33,596 686 36,160
As at 1 January 2023 2,264 44,795 1,583 48,642
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,795 -
Prepayments and accrued income 81 523
PAYE and NI - 360
1,876 883
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 1,068 7,452
Corporation tax 4,847 9,258
Other taxes and social security 1,461 -
Pensions payable 80 107
Accruals and deferred income 146 63
Directors' loan accounts 1,999 3,347
9,601 20,227
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 33,319 31,196
33,319 31,196
Page 6
Page 7
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,068 7,452
Later than one year and not later than five years 33,319 31,196
34,387 38,648
34,387 38,648
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 1,579 1,269
10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 1,269 1,269
Additions 310 310
Balance at 31 December 2023 1,579 1,579
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 7