REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
NORTHERN POWERHOUSE LAND LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
NORTHERN POWERHOUSE LAND LIMITED |
NORTHERN POWERHOUSE LAND LIMITED (REGISTERED NUMBER: 11044227) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
NORTHERN POWERHOUSE LAND LIMITED (REGISTERED NUMBER: 11044227) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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 POWERHOUSE LAND LIMITED (REGISTERED NUMBER: 11044227) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
NORTHERN POWERHOUSE LAND LIMITED (REGISTERED NUMBER: 11044227) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Northern Powerhouse Land Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Northern Powerhouse Land Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
NORTHERN POWERHOUSE LAND LIMITED (REGISTERED NUMBER: 11044227) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets |
Basic financial assets, including trade and other receivables, cash and bank balances and investments in |
commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies |
and preference shares that are classified as debt, are initially recognised at transaction price, unless the |
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Such debt instruments are subsequently carried at amortised cost using the effective interest rate method. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Going concern |
At the balance sheet date, the company was in a net current liability position. Based on future cashflow projections and future actual cash received the directors are confident they will have sufficient funds to meet the companies obligations as they fall due. The directors have confirmed related companies will not recall any loans until the company is in a position to repay the loans. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
NORTHERN POWERHOUSE LAND LIMITED (REGISTERED NUMBER: 11044227) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | FIXED ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Shares in group undertakings |
Loans to group undertakings |
Participating interests |
Loans to undertakings in which the company has a participating interest |
Additional information is as follows: |
Shares in | Interest |
group | in joint |
undertakings | venture | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 | 61,651 |
NET BOOK VALUE |
At 31 December 2023 | 61,651 |
At 31 December 2022 | 61,651 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiary |
Registered office: 5 Brooklands Place, Brooklands Road, Sale, Cheshire M33 3SD |
Nature of business: |
% |
Class of shares: | holding |
Joint venture |
Registered office: Nelson House, Central Boulevard, Blythe Valley Park, Solihull, West Midlands, B90 8BG UK |
Nature of business: |
% |
Class of shares: | holding |
NORTHERN POWERHOUSE LAND LIMITED (REGISTERED NUMBER: 11044227) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | FIXED ASSET INVESTMENTS - continued |
Loans to | Loans to |
group | joint |
undertakings | ventures | Totals |
£ | £ | £ |
At 1 January 2023 |
New in year |
Repayment in year | ( |
) | ( |
) | ( |
) |
Other movement |
At 31 December 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Directors' loan accounts | 7,997 | - |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans |
Trade creditors |
Social security and other taxes | ( |
) |
Directors' loan accounts | - | 38,154 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans - 1-2 years | 800,000 | 3,568,672 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 280,000 | 280,000 |
Ordinary A | 1 | 100,000 | 100,000 |
Ordinary B | 1 | 380,000 | 380,000 |
760,000 | 760,000 |
NORTHERN POWERHOUSE LAND LIMITED (REGISTERED NUMBER: 11044227) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At 31 December 2023, the company was owed £4,068 by (2022: £16,246 was owed to ) Robert Nicholson. This loan was repaid within 9 months of the year end. |
At 31 December 2023, the company was owed £3,929 by (2022: £21,908 was owed to) James Nicholson. This loan was repaid within 9 months of the year end. |
11. | RELATED PARTY DISCLOSURES |
At 31 December 2023, the amount due from Pochin Midpoint Limited, to the Company was £3,440,335 (2022: £3,191,965). The Company owns 100% of the share capital of Pochin Midpoint Limited. |
At 31 December 2023, the amount due from Pochin Goodman (Northern Gateway) Limited, to the Company was £2,571,075 (2022: £3,614,075). The Company owns 50% of the share capital of Pochin Goodman (Northern Gateway) Limited. |
At 31 December 2023, the amount due from Cheshire Fresh Limited, to the Company was £2,000 (2022: £Nil). Cheshire Fresh Limited is a company J Nicholson and R Nicholson are also directors of. |
At 31 December 2023, the amount due from S Nicholson, a shareholder, to the Company was £1,460. (2022: £Nil) . |
At 31 December 2023, the amount due to Kettley International Limited was £120,000 in loans and £1,500,000 as a deep discounted bond. Kettley international Limited owns 50% of the share of Northern Powerhouse Limited. |
12. | ULTIMATE CONTROLLING PARTY |
In the opinion of the directors there is no ultimate controlling party. |