2 false false false false true false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 403,750 403,750 212 212 212 112,185 9,789 102,396 xbrli:pure xbrli:shares iso4217:GBP 4600142 2022-12-01 2023-11-30 4600142 2023-11-30 4600142 2022-11-30 4600142 2021-12-01 2022-11-30 4600142 2022-11-30 4600142 2021-11-30 4600142 core:Subsidiary1 2022-12-01 2023-11-30 4600142 core:Subsidiary2 2022-12-01 2023-11-30 4600142 core:Subsidiary3 2022-12-01 2023-11-30 4600142 core:NetGoodwill 2022-12-01 2023-11-30 4600142 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 4600142 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 4600142 bus:OrdinaryShareClass3 2022-12-01 2023-11-30 4600142 bus:Director1 2022-12-01 2023-11-30 4600142 core:NetGoodwill 2023-11-30 4600142 core:MotorVehicles 2022-11-30 4600142 core:MotorVehicles 2023-11-30 4600142 core:MotorVehicles 2022-12-01 2023-11-30 4600142 core:WithinOneYear 2023-11-30 4600142 core:WithinOneYear 2022-11-30 4600142 core:ShareCapital 2023-11-30 4600142 core:ShareCapital 2022-11-30 4600142 core:RetainedEarningsAccumulatedLosses 2023-11-30 4600142 core:RetainedEarningsAccumulatedLosses 2022-11-30 4600142 core:DeferredTaxation 2022-12-01 2023-11-30 4600142 core:CostValuation core:Non-currentFinancialInstruments 2023-11-30 4600142 core:Non-currentFinancialInstruments 2023-11-30 4600142 core:Non-currentFinancialInstruments 2022-11-30 4600142 core:AcceleratedTaxDepreciationDeferredTax 2023-11-30 4600142 core:AcceleratedTaxDepreciationDeferredTax 2022-11-30 4600142 core:MotorVehicles 2022-11-30 4600142 core:DeferredTaxation 2022-11-30 4600142 core:DeferredTaxation 2023-11-30 4600142 bus:SmallEntities 2022-12-01 2023-11-30 4600142 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 4600142 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 4600142 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 4600142 bus:FullAccounts 2022-12-01 2023-11-30 4600142 bus:OrdinaryShareClass1 2023-11-30 4600142 bus:OrdinaryShareClass1 2022-11-30 4600142 bus:OrdinaryShareClass2 2023-11-30 4600142 bus:OrdinaryShareClass2 2022-11-30 4600142 bus:OrdinaryShareClass3 2023-11-30 4600142 bus:OrdinaryShareClass3 2022-11-30 4600142 bus:AllOrdinaryShares 2023-11-30 4600142 bus:AllOrdinaryShares 2022-11-30 4600142 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 4600142 core:FurnitureFittingsToolsEquipment 2022-11-30 4600142 core:FurnitureFittingsToolsEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 4600142
NORTHERN MARQUEES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
NORTHERN MARQUEES LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
409,585
448,739
Investments
7
212
212
----------
----------
409,797
448,951
CURRENT ASSETS
Debtors
8
1,440,200
1,723,385
Cash at bank and in hand
767,047
1,107,237
-------------
-------------
2,207,247
2,830,622
CREDITORS: amounts falling due within one year
9
555,277
980,585
-------------
-------------
NET CURRENT ASSETS
1,651,970
1,850,037
-------------
-------------
TOTAL ASSETS LESS CURRENT LIABILITIES
2,061,767
2,298,988
PROVISIONS
Taxation including deferred tax
10
102,396
112,185
-------------
-------------
NET ASSETS
1,959,371
2,186,803
-------------
-------------
NORTHERN MARQUEES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
12
302,000
302,000
Profit and loss account
1,657,371
1,884,803
-------------
-------------
SHAREHOLDERS FUNDS
1,959,371
2,186,803
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 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 were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
A M Tinker
Director
Company registration number: 4600142
NORTHERN MARQUEES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Event House, 45 Coal Pit Lane, Lower Cumberworth, Huddersfield, West Yorkshire, HD8 8PL.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for administrative and managerial services and the hiring of assets, stated net of discounts and of Value Added Tax.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance and 4 years straight line
Equipment
-
25% reducing balance
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
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 as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
403,750
----------
Amortisation
At 1 December 2022 and 30 November 2023
403,750
----------
Carrying amount
At 30 November 2023
----------
At 30 November 2022
----------
6. TANGIBLE ASSETS
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 December 2022
981,053
28,187
1,009,240
Additions
17,000
3,800
20,800
----------
---------
-------------
At 30 November 2023
998,053
31,987
1,030,040
----------
---------
-------------
Depreciation
At 1 December 2022
539,090
21,411
560,501
Charge for the year
57,708
2,246
59,954
----------
---------
-------------
At 30 November 2023
596,798
23,657
620,455
----------
---------
-------------
Carrying amount
At 30 November 2023
401,255
8,330
409,585
----------
---------
-------------
At 30 November 2022
441,963
6,776
448,739
----------
---------
-------------
7. INVESTMENTS
Shares in group undertakings
£
Cost
At 1 December 2022 and 30 November 2023
212
----
Impairment
At 1 December 2022 and 30 November 2023
----
Carrying amount
At 30 November 2023
212
----
At 30 November 2022
212
----
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Northern Event Structures Limited
Ordinary
100
Mountain Trailers Limited
Ordinary
56
Barden Freight Limited
Ordinary
56
The results and capital and reserves for the year are as follows:
Capital and reserves
Profit/(loss) for the year
2023
2022
2023
2022
£
£
£
£
Subsidiary undertakings
Northern Event Structures Limited
531,410
556,211
( 24,801)
(1,405)
Mountain Trailers Limited
408,510
462,229
( 53,719)
36,669
Barden Freight Limited
584,918
584,036
882
166,711
----------
----------
---------
----------
All subsidiaries are companies incorporated in England and Wales and the registered office address of each subsidiary is Event House, 45 Coal Pit Lane, Lower Cumberworth, Huddersfield, West Yorkshire, HD8 8PL. On 1 March 2024 the company acquired the remaining 44% of the ordinary £1 shares in Mountain Trailers Limited and Barden Freight Limited, with both companies now 100% subsidiaries.
8. DEBTORS
2023
2022
£
£
Trade debtors
103,000
290,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,306,456
1,433,385
Other debtors
30,744
-------------
-------------
1,440,200
1,723,385
-------------
-------------
9. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
249,999
254,999
Corporation tax
374,322
Social security and other taxes
254
Other creditors
305,278
351,010
----------
----------
555,277
980,585
----------
----------
10. PROVISIONS
Deferred tax (note 11)
£
At 1 December 2022
112,185
Charge against provision
( 9,789)
----------
At 30 November 2023
102,396
----------
11. DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions (note 10)
102,396
112,185
----------
----------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
102,396
112,185
----------
----------
12. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary 'A' shares of £ 1 each
270,900
270,900
270,900
270,900
Ordinary 'B' shares of £ 1 each
1,000
1,000
1,000
1,000
Ordinary 'C' shares of £ 1 each
30,100
30,100
30,100
30,100
----------
----------
----------
----------
302,000
302,000
302,000
302,000
----------
----------
----------
----------
The 'A', 'B' and 'C' shares rank pari pasu, except that the 'B' shares are not entitled to receive notice of, attend or vote at any general meeting of the company, nor shall the 'B' shares carry any rights as to return of capital beyond their nominal value. If and so long as the ordinary share capital is divided into different classes of shares, the directors may, subject to the provisions of the Act pay interim dividends at variable rates on the different classes of shares, and the company, on the recommendation of the Director(s) may declare dividends at variable rates on the different classes of shares. On 1 March 2024 the company issued 45,354 new 'C' ordinary £1 shares and the 1,000 'B' ordinary £1 shares were cancelled.
13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors had unsecured interest free loans with the company. The directors loan accounts were in credit throughout the year and are repayable on demand.