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Registered number: 13876141
Northernhay Holdings Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Cooper Associates Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13876141
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 288,195 288,491
288,195 288,491
CURRENT ASSETS
Debtors 5 473 325
Cash at bank and in hand 7,551 3,414
8,024 3,739
Creditors: Amounts Falling Due Within One Year 6 (115,573 ) (113,801 )
NET CURRENT ASSETS (LIABILITIES) (107,549 ) (110,062 )
TOTAL ASSETS LESS CURRENT LIABILITIES 180,646 178,429
Creditors: Amounts Falling Due After More Than One Year 7 (180,612 ) (185,105 )
NET ASSETS/(LIABILITIES) 34 (6,676 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (66 ) (6,776 )
SHAREHOLDERS' FUNDS 34 (6,676)
Page 1
Page 2
For the year ending 31 January 2024 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 J Virok
Director
31st October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Northernhay Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13876141 . The registered office is Unit 1 Maclaines Warehouse, Haven Road, Exeter, EX2 8GR.
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.
2.2. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
2.4. Financial Instruments
The company holds the following financial instruments:
  • Short term trade and other debtors and creditors;
  • Bank loans; and
  • Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecgonised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.
...CONTINUED
Page 3
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2.4. Financial Instruments - continued
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs and are subsequently carried at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 February 2023 288,491
Disposals (296 )
As at 31 January 2024 288,195
Net Book Value
As at 31 January 2024 288,195
As at 1 February 2023 288,491
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 473 325
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 4,508 4,420
Other creditors 36,308 35,500
Accruals 660 720
Directors' loan accounts 74,097 73,161
115,573 113,801
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 180,612 185,105
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5