Net Zero (North) Limited 14448604 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of silviculture and other forestry activities. Digita Accounts Production Advanced 6.30.9574.0 true true 14448604 2023-04-01 2024-03-31 14448604 2024-03-31 14448604 bus:OrdinaryShareClass1 2024-03-31 14448604 core:CurrentFinancialInstruments 2024-03-31 14448604 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14448604 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14448604 core:FurnitureFittingsToolsEquipment 2024-03-31 14448604 core:MotorVehicles 2024-03-31 14448604 bus:SmallEntities 2023-04-01 2024-03-31 14448604 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14448604 bus:FullAccounts 2023-04-01 2024-03-31 14448604 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14448604 bus:RegisteredOffice 2023-04-01 2024-03-31 14448604 bus:Director1 2023-04-01 2024-03-31 14448604 bus:Director2 2023-04-01 2024-03-31 14448604 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 14448604 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14448604 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 14448604 core:MotorVehicles 2023-04-01 2024-03-31 14448604 core:OfficeEquipment 2023-04-01 2024-03-31 14448604 core:PlantMachinery 2023-04-01 2024-03-31 14448604 countries:EnglandWales 2023-04-01 2024-03-31 14448604 2022-04-01 2023-03-31 14448604 2023-03-31 14448604 bus:OrdinaryShareClass1 2023-03-31 14448604 core:CurrentFinancialInstruments 2023-03-31 14448604 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14448604 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14448604

Net Zero (North) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Net Zero (North) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Net Zero (North) Limited

Company Information

Directors

Mr Stuart Alexander Evans

Mr Robert Edward Albert Gait

Registered office

60 Station View
Skipton
BD23 1TG

Accountants

Smith Butler
Accountants & Business Advisors
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

Net Zero (North) Limited

(Registration number: 14448604)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

141,593

-

Current assets

 

Debtors

5

194,342

100

Cash at bank and in hand

 

41,508

-

 

235,850

100

Creditors: Amounts falling due within one year

6

(233,877)

-

Net current assets

 

1,973

100

Total assets less current liabilities

 

143,566

100

Creditors: Amounts falling due after more than one year

6

(23,749)

-

Net assets

 

119,817

100

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

119,717

-

Shareholders' funds

 

119,817

100

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 August 2024 and signed on its behalf by:
 

.........................................
Mr Stuart Alexander Evans
Director

.........................................
Mr Robert Edward Albert Gait
Director

 
     
 

Net Zero (North) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
60 Station View
Skipton
BD23 1TG

These financial statements were authorised for issue by the Board on 12 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Net Zero (North) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Office equipment

33% straight line

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Net Zero (North) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Net Zero (North) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

90,791

100,702

191,493

Disposals

-

(33,980)

(33,980)

At 31 March 2024

90,791

66,722

157,513

Depreciation

Charge for the year

8,818

10,642

19,460

Eliminated on disposal

-

(3,540)

(3,540)

At 31 March 2024

8,818

7,102

15,920

Carrying amount

At 31 March 2024

81,973

59,620

141,593

5

Debtors

Current

2024
£

2023
£

Trade debtors

190,901

-

Prepayments

3,441

-

Other debtors

-

100

 

194,342

100

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

14,100

-

Trade creditors

 

15,599

-

Taxation and social security

 

16,028

-

Accruals and deferred income

 

51,459

-

Other creditors

 

136,691

-

 

233,877

-

 

Net Zero (North) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

23,749

-

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100