53 Degrees (Northern) Limited 07153326 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of electrical contractors. Digita Accounts Production Advanced 6.30.9574.0 true true 07153326 2023-03-01 2024-02-29 07153326 2024-02-29 07153326 bus:Director1 1 2024-02-29 07153326 bus:OrdinaryShareClass1 2024-02-29 07153326 core:CurrentFinancialInstruments 2024-02-29 07153326 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 07153326 core:FurnitureFittingsToolsEquipment 2024-02-29 07153326 bus:SmallEntities 2023-03-01 2024-02-29 07153326 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07153326 bus:FilletedAccounts 2023-03-01 2024-02-29 07153326 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07153326 bus:RegisteredOffice 2023-03-01 2024-02-29 07153326 bus:Director1 2023-03-01 2024-02-29 07153326 bus:Director1 1 2023-03-01 2024-02-29 07153326 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 07153326 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07153326 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 07153326 core:OfficeEquipment 2023-03-01 2024-02-29 07153326 countries:EnglandWales 2023-03-01 2024-02-29 07153326 2023-02-28 07153326 bus:Director1 1 2023-02-28 07153326 core:FurnitureFittingsToolsEquipment 2023-02-28 07153326 2022-03-01 2023-02-28 07153326 2023-02-28 07153326 bus:Director1 1 2023-02-28 07153326 bus:OrdinaryShareClass1 2023-02-28 07153326 core:CurrentFinancialInstruments 2023-02-28 07153326 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 07153326 core:FurnitureFittingsToolsEquipment 2023-02-28 07153326 bus:Director1 1 2022-03-01 2023-02-28 07153326 bus:Director1 1 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07153326

53 Degrees (Northern) Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

53 Degrees (Northern) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

53 Degrees (Northern) Limited

Company Information

Director

Mr Rodney Pallister

Registered office

Dale Side
116 Leeds Road
Harrogate
North Yorkshire
HG2 8HH

 

53 Degrees (Northern) Limited

(Registration number: 07153326)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,867

2,871

Current assets

 

Debtors

5

-

5,247

Cash at bank and in hand

 

106,999

104,333

 

106,999

109,580

Creditors: Amounts falling due within one year

6

(22,567)

(23,853)

Net current assets

 

84,432

85,727

Net assets

 

86,299

88,598

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

86,297

88,596

Shareholders' funds

 

86,299

88,598

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 November 2024
 

.........................................
Mr Rodney Pallister
Director

 

53 Degrees (Northern) Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Dale Side
116 Leeds Road
Harrogate
North Yorkshire
HG2 8HH
England

These financial statements were authorised for issue by the director on 11 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

53 Degrees (Northern) Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

53 Degrees (Northern) Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

4,066

4,066

At 29 February 2024

4,066

4,066

Depreciation

At 1 March 2023

1,195

1,195

Charge for the year

1,004

1,004

At 29 February 2024

2,199

2,199

Carrying amount

At 29 February 2024

1,867

1,867

At 28 February 2023

2,871

2,871

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

2,609

Other debtors

-

2,638

 

-

5,247

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

18,995

20,149

trade creditors

 

1,873

3,417

Taxation and social security

 

699

287

Accruals and deferred income

 

1,000

-

 

22,567

23,853

 

53 Degrees (Northern) Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

18,995

20,149

9

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

At 29 February 2024
£

Mr Rodney Pallister

Unsecured loan payable by the company to a director, repayable on demand

20,147

(1,152)

18,995

2023

At 1 March 2022
£

Other payments made to company by director
£

At 28 February 2023
£

Mr Rodney Pallister

Unsecured loan payable by the company to a director, repayable on demand

-

20,147

20,147

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

797

9,564