Acorah Software Products - Accounts Production 15.0.600 false true true false 22 December 2022 31 December 2023 31 December 2023 14554808 Mr Paul Smith Mr James Stephenson True North Estate Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14554808 2022-12-21 14554808 2023-12-31 14554808 2022-12-22 2023-12-31 14554808 frs-core:CurrentFinancialInstruments 2023-12-31 14554808 frs-core:ShareCapital 2023-12-31 14554808 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 14554808 frs-bus:PrivateLimitedCompanyLtd 2022-12-22 2023-12-31 14554808 frs-bus:FilletedAccounts 2022-12-22 2023-12-31 14554808 frs-bus:SmallEntities 2022-12-22 2023-12-31 14554808 frs-bus:AuditExempt-NoAccountantsReport 2022-12-22 2023-12-31 14554808 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-22 2023-12-31 14554808 1 2022-12-22 2023-12-31 14554808 frs-bus:Director1 2022-12-22 2023-12-31 14554808 frs-bus:Director2 2022-12-22 2023-12-31 14554808 frs-bus:Director2 2022-12-21 14554808 frs-bus:Director2 2023-12-31 14554808 frs-core:CurrentFinancialInstruments 1 2023-12-31 14554808 frs-core:CurrentFinancialInstruments 3 2023-12-31 14554808 frs-countries:EnglandWales 2022-12-22 2023-12-31
Registered number: 14554808
True North Property Management Limited
Unaudited Financial Statements
For the Period 22 December 2022 to 31 December 2023
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
Hebburn
South Tyneside
NE31 2EQ
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14554808
31 December 2023
Notes £ £
CURRENT ASSETS
Debtors 4 3,067
Cash at bank and in hand 146
3,213
Creditors: Amounts Falling Due Within One Year 5 (5,578 )
NET CURRENT ASSETS (LIABILITIES) (2,365 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,365 )
NET LIABILITIES (2,365 )
CAPITAL AND RESERVES
Called up share capital 6 1
Profit and Loss Account (2,366 )
SHAREHOLDERS' FUNDS (2,365)
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Smith
Director
Mr James Stephenson
Director
20/09/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
True North Property Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14554808 . The registered office is 13 Beacon Drive, Wideopen, Newcastle Upon Tyne, Tyne and Wear, NE13 7HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Going Concern Disclosure
The Net liabilities position needs disclosures due to being a liabilities position instead of asset: At the balance sheet date, the company had net liabilities of £2000. The Director is of the opinion that the financial statements have been properly prepared on the going concern basis on the understanding that the director will continue to support the company financially.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Debtors
31 December 2023
£
Due within one year
Prepayments and accrued income 171
Directors' loan accounts 2,896
3,067
Debtors include a balance due from the directors of £2,896. This balance will be repaid within 9 months of the year end.
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
31 December 2023
£
Intercompany Transactions - Bensham Property Maintenance Limited 1,916
Intercompany Transactions - Alfred Ernest Investments Limited 924
Accruals and deferred income 1,307
Directors' loan accounts 292
Amounts owed to group undertakings 1,139
5,578
The Intercompany loans & Group loans are all unsecured, interest free and repayable on demand.
6. Share Capital
31 December 2023
£
Allotted, Called up and fully paid 1
7. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 22 December 2022 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr James Stephenson - 3,488 592 - 2,896
The above loan is unsecured, interest free and repayable on demand.
8. Ultimate Controlling Party
The company's ultimate controlling party is True North Estate Limited by virtue of his ownership of 100% of the issued share capital in the company.
Page 3