1 September 2022 v2024.12.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP022577102022-09-012023-08-31022577102023-08-31022577102022-08-3102257710core:WithinOneYear2023-08-3102257710core:WithinOneYear2022-08-3102257710core:ShareCapital2023-08-3102257710core:ShareCapital2022-08-3102257710core:RetainedEarningsAccumulatedLosses2023-08-3102257710core:RetainedEarningsAccumulatedLosses2022-08-3102257710bus:Director12022-09-012023-08-3102257710bus:RegisteredOffice2022-09-012023-08-3102257710core:OfficeEquipment2022-09-012023-08-31022577102021-09-012022-08-3102257710core:PlantMachinery2023-08-3102257710core:PlantMachinery2022-09-0102257710core:PlantMachinery2022-09-012023-08-3102257710core:PlantMachinery2022-08-3102257710core:AfterOneYear2023-08-3102257710core:AfterOneYear2022-08-310225771012022-09-012023-08-3102257710countries:EnglandWales2022-09-012023-08-3102257710bus:AuditExemptWithAccountantsReport2022-09-012023-08-3102257710bus:PrivateLimitedCompanyLtd2022-09-012023-08-3102257710bus:SmallEntities2022-09-012023-08-3102257710bus:FullAccounts2022-09-012023-08-3102257710bus:Director22022-09-012023-08-31
Company registration number:
02257710
Northwood Associates Ltd
Unaudited Filleted Financial Statements for the year ended
31 August 2023
Northwood Associates Ltd
Statement of Financial Position
31 August 2023
20232022
Note££
Fixed assets    
Tangible assets 5
402
 
803
 
Current assets    
Debtors 6
52,567
 
52,367
 
Cash at bank and in hand
49,772
 
55,803
 
102,339
 
108,170
 
Creditors: amounts falling due within one year 7
(16,764
)
(23,220
)
Net current assets
85,575
 
84,950
 
Total assets less current liabilities 85,977   85,753  
Provisions for liabilities
(76
)
(153
)
Net assets
85,901
 
85,600
 
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
84,901
 
84,600
 
Shareholders funds
85,901
 
85,600
 
For the year ending
31 August 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
10 April 2024
, and are signed on behalf of the board by:
Mr C B Dunk
Director
Company registration number:
02257710
Northwood Associates Ltd
Notes to the Financial Statements
Year ended
31 August 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Vine Barn
,
Village Green
,
Northchapel, Petworth
,
GU28 9HU
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 September 2022
and
31 August 2023
1,606
 
Depreciation  
At
1 September 2022
803
 
Charge
401
 
At
31 August 2023
1,204
 
Carrying amount  
At
31 August 2023
402
 
At 31 August 2022
803
 

6 Debtors

20232022
££
Other debtors
52,567
 
52,367
 
The debtors above include the following amounts falling due after more than one year:
20232022
££
Other debtors
52,306
 
52,306
 

7 Creditors: amounts falling due within one year

20232022
££
Taxation and social security
238
 
253
 
Other creditors
16,526
 
22,967
 
16,764
 
23,220