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REGISTERED NUMBER: 12425176 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Northbank Mortgage Solutions Ltd

Northbank Mortgage Solutions Ltd (Registered number: 12425176)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Northbank Mortgage Solutions Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: R J W Dodgson
K Dodgson





REGISTERED OFFICE: 13 Atley Business Park
Cramlington
NE23 1WP





REGISTERED NUMBER: 12425176 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Northbank Mortgage Solutions Ltd (Registered number: 12425176)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94 347

CURRENT ASSETS
Debtors 5 9,696 10,912
Cash at bank 19,764 25,222
29,460 36,134
CREDITORS
Amounts falling due within one year 6 15,048 19,071
NET CURRENT ASSETS 14,412 17,063
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,506

17,410

CREDITORS
Amounts falling due after more than one
year

7

(13,578

)

(16,242

)

PROVISIONS FOR LIABILITIES 8 (19 ) (75 )
NET ASSETS 909 1,093

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 907 1,091
SHAREHOLDERS' FUNDS 909 1,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Northbank Mortgage Solutions Ltd (Registered number: 12425176)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 12 September 2024 and were signed on its behalf by:





R J W Dodgson - Director


Northbank Mortgage Solutions Ltd (Registered number: 12425176)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Northbank Mortgage Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

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 related parties conducted under normal market conditions.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Revenue from the provision of services is recognised when the mortgages have been provided to the final customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Northbank Mortgage Solutions Ltd (Registered number: 12425176)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 327 1,087 1,414
DEPRECIATION
At 1 May 2023 168 899 1,067
Charge for year 65 188 253
At 30 April 2024 233 1,087 1,320
NET BOOK VALUE
At 30 April 2024 94 - 94
At 30 April 2023 159 188 347

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26 1,425
Other debtors 2 2
Directors' current accounts 9,622 9,445
Prepayments 46 40
9,696 10,912

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,663 2,670
Taxation and social security 11,185 13,727
Accruals and deferred income 1,200 2,674
15,048 19,071

Northbank Mortgage Solutions Ltd (Registered number: 12425176)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 2,670 2,670
Bank loans - 2-5 years 8,010 8,010
Bank loans more than 5 years 2,898 5,562
13,578 16,242

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 2,898 5,562

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 19 75

Deferred
tax
£   
Balance at 1 May 2023 75
Accelerated capital allowances (56 )
Balance at 30 April 2024 19

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
R J W Dodgson
Balance outstanding at start of year 9,445 (44 )
Amounts advanced 57,379 68,453
Amounts repaid (57,202 ) (58,964 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,622 9,445

Northbank Mortgage Solutions Ltd (Registered number: 12425176)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below:

2024 2023
£ £

Amounts due from directors 9,622 9,445
No interest has been charged.