NORTH EAST COMMERCIAL LIMITED

Company Registration Number:
11607222 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

NORTH EAST COMMERCIAL LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2023

Balance sheet
Notes

NORTH EAST COMMERCIAL LIMITED

Balance sheet

As at 31 October 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 3,007,270 1,807,990
Total fixed assets: 3,007,270 1,807,990
Current assets
Debtors:   86,055 674,938
Cash at bank and in hand: 17,857 78,440
Total current assets: 103,912 753,378
Creditors: amounts falling due within one year:   (277,867) (927,556)
Net current assets (liabilities): (173,955) (174,178)
Total assets less current liabilities: 2,833,315 1,633,812
Creditors: amounts falling due after more than one year:   (1,239,418) (654,832)
Provision for liabilities: (340,828) (187,099)
Total net assets (liabilities): 1,253,069 791,881
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:4850,319577,976
Profit and loss account: 402,650 213,805
Shareholders funds: 1,253,069 791,881

The notes form part of these financial statements

NORTH EAST COMMERCIAL LIMITED

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 10 April 2024
and signed on behalf of the board by:

Name: A P Rothwell
Status: Director

The notes form part of these financial statements

NORTH EAST COMMERCIAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents amounts invoiced by the company in respect of rents and services provided during the year, excluding value added tax.

Tangible fixed assets and depreciation policy

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life. The annual depreciation rates used on a reducing balance basis are as follows:- Plant and equipment 20%

Valuation and information policy

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

NORTH EAST COMMERCIAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

2. Employees

2023 2022
Average number of employees during the period 5 3

NORTH EAST COMMERCIAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible Assets

Total
Cost £
At 01 November 2022 1,819,805
Additions 837,853
Revaluations 363,124
At 31 October 2023 3,020,782
Depreciation
At 01 November 2022 11,815
Charge for year 1,697
At 31 October 2023 13,512
Net book value
At 31 October 2023 3,007,270
At 31 October 2022 1,807,990

NORTH EAST COMMERCIAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Revaluation reserve

2023
£
Balance at 01 November 2022 577,976
Surplus or deficit after revaluation 272,343
Balance at 31 October 2023 850,319