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COMPANY REGISTRATION NUMBER: 12470286
NORTHVALE DEVELOPMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 February 2024
NORTHVALE DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
2023
Note
£
£
£
£
CURRENT ASSETS
Stocks
506,405
Debtors
4
58,387
38,738
Cash at bank and in hand
185
78,085
---------
---------
564,977
116,823
CREDITORS: amounts falling due within one year
5
572,733
100,274
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 7,756)
16,549
-------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 7,756)
16,549
-------
--------
NET (LIABILITIES)/ASSETS
( 7,756)
16,549
-------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 7,856)
16,449
-------
--------
SHAREHOLDERS (DEFICIT)/FUNDS
( 7,756)
16,549
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NORTHVALE DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 18 November 2024 , and are signed on behalf of the board by:
H S Manton
S A Hopkins
Director
Director
Company registration number: 12470286
NORTHVALE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 28 Headingley Lane, Leeds, LS6 2AS.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have also been prepared on the going concern basis.The directors consider the going concern basis to be appropriate as they have confirmed their ongoing support.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
Deferred tax is recognised in respect of all timing differences at the reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. DEBTORS
2024
2023
£
£
Other debtors
58,387
38,738
--------
--------
5. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
337,500
Trade creditors
14,308
14,474
Amounts due to related companies
219,000
84,000
Other creditors
1,925
1,800
---------
---------
572,733
100,274
---------
---------