Registered number
02283072
Northumbria Limited
Unaudited Filleted Accounts
31 March 2024
Northumbria Limited
Registered number: 02283072
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,575 9,964
7,575 9,964
Current assets
Stocks - 57,843
Debtors 4 18,505 89,656
Cash at bank and in hand 302,474 357,113
320,979 504,612
Creditors: amounts falling due within one year 5 (4,325) (56,178)
Net current assets 316,654 448,434
Total assets less current liabilities 324,229 458,398
Provisions for liabilities (1,439) (1,404)
Net assets 322,790 456,994
Capital and reserves
Called up share capital 9,550 9,550
Profit and loss account 313,240 447,444
Shareholders' funds 322,790 456,994
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.
E C Wilkes
Director
Approved by the board on 4 October 2024
Northumbria Limited
Notes to the Accounts
for the year ended 31 March 2024
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 123,739 48,385 172,124
Additions 767 - 767
Disposals - (3,540) (3,540)
At 31 March 2024 124,506 44,845 169,351
Depreciation
At 1 April 2023 116,640 45,520 162,160
Charge for the year 1,967 559 2,526
On disposals - (2,910) (2,910)
At 31 March 2024 118,607 43,169 161,776
Net book value
At 31 March 2024 5,899 1,676 7,575
At 31 March 2023 7,099 2,865 9,964
4 Debtors 2024 2023
£ £
Trade debtors 3,778 88,714
Other debtors 14,727 942
18,505 89,656
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,905 29,559
Taxation and social security costs - 25,148
Other creditors 1,420 1,471
4,325 56,178
6 Related party transactions
The company rents premises at Double Row from the director. The rent payable under the lease in respect of the year ended 31 March 2024 was £15,500 (2023; £15,500).
7 Controlling party
The company is under the ultimate control of the director, E C Wilkes, by virtue of her controlling shareholding in the company.
8 Other information
Northumbria Limited is a private company limited by shares and incorporated in England. Its registered office is:
Gate House
Killingworth Village
Newcastle Upon Tyne
NE12 6BL
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