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REGISTERED NUMBER: SC745712 (Scotland)















Unaudited Financial Statements for the Year Ended 30 May 2024

for

Northwind Contracts Ltd

Northwind Contracts Ltd (Registered number: SC745712)






Contents of the Financial Statements
for the Year Ended 30 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Northwind Contracts Ltd

Company Information
for the Year Ended 30 May 2024







DIRECTORS: Miss Ariana McDermott
Barry McDermott





REGISTERED OFFICE: 20 Croftcroighn Road
Glasgow
G33 3SL





REGISTERED NUMBER: SC745712 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Northwind Contracts Ltd (Registered number: SC745712)

Balance Sheet
30 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 867,233 -
Tangible assets 5 146,724 -
1,013,957 -

CURRENT ASSETS
Stock 42,500 -
Debtors 6 104,159 -
Cash at bank and in hand 88,274 100
234,933 100
CREDITORS
Amounts falling due within one year 7 565,163 -
NET CURRENT (LIABILITIES)/ASSETS (330,230 ) 100
TOTAL ASSETS LESS CURRENT
LIABILITIES

683,727

100

CREDITORS
Amounts falling due after more than one
year

8

(618,662

)

-

PROVISIONS FOR LIABILITIES 10 (27,877 ) -
NET ASSETS 37,188 100

Northwind Contracts Ltd (Registered number: SC745712)

Balance Sheet - continued
30 May 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 37,088 -
SHAREHOLDERS' FUNDS 37,188 100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





Barry McDermott - Director


Northwind Contracts Ltd (Registered number: SC745712)

Notes to the Financial Statements
for the Year Ended 30 May 2024

1. STATUTORY INFORMATION

Northwind Contracts Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fittings and equipment - 20% on cost
Motor vehicles - 20% on reducing balance

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

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.


Northwind Contracts Ltd (Registered number: SC745712)

Notes to the Financial Statements - continued
for the Year Ended 30 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 2 ) .

Northwind Contracts Ltd (Registered number: SC745712)

Notes to the Financial Statements - continued
for the Year Ended 30 May 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 912,877
At 30 May 2024 912,877
AMORTISATION
Amortisation for year 45,644
At 30 May 2024 45,644
NET BOOK VALUE
At 30 May 2024 867,233

5. TANGIBLE FIXED ASSETS
Fittings
and Motor
equipment vehicles Totals
£    £    £   
COST
Additions 122,907 60,497 183,404
At 30 May 2024 122,907 60,497 183,404
DEPRECIATION
Charge for year 24,581 12,099 36,680
At 30 May 2024 24,581 12,099 36,680
NET BOOK VALUE
At 30 May 2024 98,326 48,398 146,724

Northwind Contracts Ltd (Registered number: SC745712)

Notes to the Financial Statements - continued
for the Year Ended 30 May 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 42,000
At 30 May 2024 42,000
DEPRECIATION
Charge for year 8,400
At 30 May 2024 8,400
NET BOOK VALUE
At 30 May 2024 33,600

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 91,611 -
Other debtors 12,548 -
104,159 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 44,998 -
Hire purchase contracts 19,237 -
Trade creditors 108,878 -
Taxation and social security (5,843 ) -
Other creditors 397,893 -
565,163 -

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 588,388 -
Hire purchase contracts 30,274 -
618,662 -

Northwind Contracts Ltd (Registered number: SC745712)

Notes to the Financial Statements - continued
for the Year Ended 30 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 408,395 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 633,386 -

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 27,877 -

Deferred
tax
£   
Provided during year 27,877
Balance at 30 May 2024 27,877

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100