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REGISTERED NUMBER: SC438789 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NORTHERN TRADING (INVERNESS) LIMITED

NORTHERN TRADING (INVERNESS) LIMITED (REGISTERED NUMBER: SC438789)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTHERN TRADING (INVERNESS) LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTOR: G S Harrison





REGISTERED OFFICE: R A Clement Associates
5 Argyll Square
OBAN
PA34 4AZ





REGISTERED NUMBER: SC438789 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

NORTHERN TRADING (INVERNESS) LIMITED (REGISTERED NUMBER: SC438789)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 20,647 27,354
20,647 27,354

CURRENT ASSETS
Debtors 6 922 1,843
Cash at bank 453,953 376,519
454,875 378,362
CREDITORS
Amounts falling due within one year 7 74,263 57,982
NET CURRENT ASSETS 380,612 320,380
TOTAL ASSETS LESS CURRENT
LIABILITIES

401,259

347,734

CREDITORS
Amounts falling due after more than one year 8 (8,500 ) (8,500 )

PROVISIONS FOR LIABILITIES (4,492 ) (5,379 )
NET ASSETS 388,267 333,855

CAPITAL AND RESERVES
Called up share capital 120 120
Capital redemption reserve 200 200
Retained earnings 387,947 333,535
SHAREHOLDERS' FUNDS 388,267 333,855

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

NORTHERN TRADING (INVERNESS) LIMITED (REGISTERED NUMBER: SC438789)

BALANCE SHEET - continued
31 December 2023


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 9 September 2024 and were signed by:





G S Harrison - Director


NORTHERN TRADING (INVERNESS) LIMITED (REGISTERED NUMBER: SC438789)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Northern Trading (Inverness) Limited 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.

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.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and sales taxes.

Revenue represents commission income from brokerage services. Commission income is recognised when the services are rendered and the finance transaction has been completed. Where the company has agreed potential commission claw back in the brokerage service contract, commission income is reduced by a "debit back provision" which represents management's best estimate of probable future claw backs.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year 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.


NORTHERN TRADING (INVERNESS) LIMITED (REGISTERED NUMBER: SC438789)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 24,000
AMORTISATION
At 1 January 2023
and 31 December 2023 24,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

NORTHERN TRADING (INVERNESS) LIMITED (REGISTERED NUMBER: SC438789)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 2,400 487 31,458 2,699 37,044
Additions - - - 175 175
At 31 December 2023 2,400 487 31,458 2,874 37,219
DEPRECIATION
At 1 January 2023 600 214 7,865 1,011 9,690
Charge for year 450 68 5,898 466 6,882
At 31 December 2023 1,050 282 13,763 1,477 16,572
NET BOOK VALUE
At 31 December 2023 1,350 205 17,695 1,397 20,647
At 31 December 2022 1,800 273 23,593 1,688 27,354

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 922 1,843

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 59,317 43,734
Other creditors 14,946 14,248
74,263 57,982

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 8,500 8,500