Registered number
NI646535
Norlin Events Limited
Filleted Accounts
30 June 2023
Norlin Events Limited
Registered number: NI646535
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 1,300,000 1,300,000
Current assets
Debtors 4 2,051,320 36,524
Cash at bank and in hand 201 23
2,051,521 36,547
Creditors: amounts falling due within one year 5 (3,149,324) (1,079,376)
Net current liabilities (1,097,803) (1,042,829)
Total assets less current liabilities 202,197 257,171
Creditors: amounts falling due after more than one year 6 (31,667) (40,833)
Net assets 170,530 216,338
Capital and reserves
Called up share capital 200 100
Profit and loss account 170,330 216,238
Shareholders' funds 170,530 216,338
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Richard Irwin
Director
Approved by the board on 12 September 2024
Norlin Events Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 July 2022 300,000 1,000,000 1,300,000
At 30 June 2023 300,000 1,000,000 1,300,000
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,051,220 36,524
Other debtors 100 -
2,051,320 36,524
5 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 3,149,324 1,078,803
Taxation and social security costs - 573
3,149,324 1,079,376
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 31,667 40,833
7 Other information
Norlin Events Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
c/o Central Fusion Limited
Innovation Centre, Queens Road
Belfast
Northern Ireland
BT3 9DT
Norlin Events Limited NI646535 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts April 2024 Richard Irwin No description of principal activity NI646535 2021-07-01 2022-06-30 NI646535 core:WithinOneYear 2022-06-30 NI646535 core:AfterOneYear 2022-06-30 NI646535 core:ShareCapital 2022-06-30 NI646535 core:RetainedEarningsAccumulatedLosses 2022-06-30 NI646535 2022-07-01 2023-06-30 NI646535 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 NI646535 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 NI646535 bus:Director40 2022-07-01 2023-06-30 NI646535 1 2022-07-01 2023-06-30 NI646535 2 2022-07-01 2023-06-30 NI646535 countries:England 2022-07-01 2023-06-30 NI646535 bus:FRS102 2022-07-01 2023-06-30 NI646535 bus:FilletedAccounts 2022-07-01 2023-06-30 NI646535 2023-06-30 NI646535 core:WithinOneYear 2023-06-30 NI646535 core:AfterOneYear 2023-06-30 NI646535 core:ShareCapital 2023-06-30 NI646535 core:RetainedEarningsAccumulatedLosses 2023-06-30 NI646535 2022-06-30 iso4217:GBP xbrli:pure