Silverfin false false 29/02/2024 01/03/2023 29/02/2024 J Sams 21/06/2021 08 November 2024 The principle activity of the company during the financial year was that of a head office management company. 13467531 2024-02-29 13467531 bus:Director1 2024-02-29 13467531 core:CurrentFinancialInstruments 2024-02-29 13467531 core:CurrentFinancialInstruments 2023-02-28 13467531 2023-02-28 13467531 core:ShareCapital 2024-02-29 13467531 core:ShareCapital 2023-02-28 13467531 core:RetainedEarningsAccumulatedLosses 2024-02-29 13467531 core:RetainedEarningsAccumulatedLosses 2023-02-28 13467531 core:WithinOneYear 2024-02-29 13467531 core:WithinOneYear 2023-02-28 13467531 core:BetweenOneFiveYears 2024-02-29 13467531 core:BetweenOneFiveYears 2023-02-28 13467531 2023-03-01 2024-02-29 13467531 bus:FilletedAccounts 2023-03-01 2024-02-29 13467531 bus:SmallEntities 2023-03-01 2024-02-29 13467531 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13467531 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13467531 bus:Director1 2023-03-01 2024-02-29 13467531 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Company No: 13467531 (England and Wales)

NORTHFIELD BUSINESS MANAGEMENT LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

NORTHFIELD BUSINESS MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

NORTHFIELD BUSINESS MANAGEMENT LIMITED

BALANCE SHEET

As at 29 February 2024
NORTHFIELD BUSINESS MANAGEMENT LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
2024 2023
£ £
Current assets
Debtors 3 22,737 10,400
Cash at bank and in hand 2,550 3,794
25,287 14,194
Creditors: amounts falling due within one year 4 ( 213,138) ( 122,353)
Net current liabilities (187,851) (108,159)
Total assets less current liabilities (187,851) (108,159)
Net liabilities ( 187,851) ( 108,159)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 187,951 ) ( 108,259 )
Total shareholder's deficit ( 187,851) ( 108,159)

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 financial statements of Northfield Business Management Limited (registered number: 13467531) were approved and authorised for issue by the Director on 08 November 2024. They were signed on its behalf by:

J Sams
Director
NORTHFIELD BUSINESS MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
NORTHFIELD BUSINESS MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Northfield Business Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated gross of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Debtors

2024 2023
£ £
Other debtors 22,737 10,400

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 478 1,942
Amounts owed to Group undertakings 209,690 117,482
Other taxation and social security 1,261 1,310
Other creditors 1,709 1,619
213,138 122,353

5. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 10,500 10,500
between one and five years 2,250 12,250
12,750 22,750

6. Related party transactions

Other related party transactions

2024 2023
£ £
Other debtors 22,007 9,670

Included within other debtors is a balance of £22,007 (2023 - £9670) owed by NSX LTD a company in which Ms J Sams is a director and controlling shareholder.

7. Ultimate controlling party

Parent Company:

Northfield (South West) Limited
Towngate House, 2-8 Parkstone Road, Poole, Dorset, United Kingdom, BH15 2PW