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REGISTERED NUMBER: 10509287 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023

FOR

NORTHKIN LIMITED

NORTHKIN LIMITED (REGISTERED NUMBER: 10509287)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NORTHKIN LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023







DIRECTOR: S Abedi





REGISTERED OFFICE: 4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU





BUSINESS ADDRESS: 21 Young Street
Kensington
London
W8 5EH





REGISTERED NUMBER: 10509287 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

NORTHKIN LIMITED (REGISTERED NUMBER: 10509287)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,730 1,519

CURRENT ASSETS
Stocks - 61,851
Debtors 5 6,075 84,084
Cash at bank and in hand 7,642 5,147
13,717 151,082
CREDITORS
Amounts falling due within one year 6 220,663 289,284
NET CURRENT LIABILITIES (206,946 ) (138,202 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(205,216

)

(136,683

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (205,217 ) (136,684 )
SHAREHOLDERS' FUNDS (205,216 ) (136,683 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The 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.

The financial statements were approved by the director and authorised for issue on 10 May 2024 and were signed by:





S Abedi - Director


NORTHKIN LIMITED (REGISTERED NUMBER: 10509287)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Northkin Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's 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 profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

NORTHKIN LIMITED (REGISTERED NUMBER: 10509287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Going concern
Due to the ongoing support of the company's principal shareholders the director believes that it is appropriate to prepare the financial statements on the going concern basis, which assumes that the company will continue in operational existence for the forseeable future.

If the company were unable to continue in operational existence for the forseeable future, adjustments would be necessary to reduce the balance sheet value of the assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 6,125
Additions 1,624
At 30 September 2023 7,749
DEPRECIATION
At 1 April 2022 4,606
Charge for period 1,413
At 30 September 2023 6,019
NET BOOK VALUE
At 30 September 2023 1,730
At 31 March 2022 1,519

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,075 84,084

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 115,965 115,965
Taxation and social security 1,109 13,788
Other creditors 103,589 159,531
220,663 289,284

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company owed the director, S Abedi, £95,821 (2022: £69,671). This loan bears no interest and there are no repayment terms.

NORTHKIN LIMITED (REGISTERED NUMBER: 10509287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023


8. RELATED PARTY DISCLOSURES

At the balance sheet, the company owed Yaqoub Abedi Trading Co LLC £115,965 (2022: £115,965). This loan bears no interest and there are no repayment terms.