2023-03-012024-02-292024-02-29false05375686NORTHANDSOUTH LONDON 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NORTHANDSOUTH LONDON LTD

Registered Number
05375686
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

NORTHANDSOUTH LONDON LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

REES, Richard Arthur

Company Secretary

HOWARTH, Caroline Sarah

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

05375686 (England and Wales)
NORTHANDSOUTH LONDON LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets410,8879,036
10,8879,036
Current assets
Debtors5641,060652,771
Cash at bank and on hand475,409477,381
1,116,4691,130,152
Creditors amounts falling due within one year6(32,903)(74,300)
Net current assets (liabilities)1,083,5661,055,852
Total assets less current liabilities1,094,4531,064,888
Provisions for liabilities7(2,676)(1,674)
Net assets1,091,7771,063,214
Capital and reserves
Called up share capital44
Profit and loss account1,091,7731,063,210
Shareholders' funds1,091,7771,063,214
The financial statements were approved and authorised for issue by the Director on 19 November 2024, and are signed on its behalf by:
REES, Richard Arthur
Director
Registered Company No. 05375686
NORTHANDSOUTH LONDON LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year22
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 March 2316,53762,09478,631
Additions-5,4785,478
At 29 February 2416,53767,57284,109
Depreciation and impairment
At 01 March 2315,88853,70769,595
Charge for year1613,4663,627
At 29 February 2416,04957,17373,222
Net book value
At 29 February 2448810,39910,887
At 28 February 236498,3879,036
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables35,63548,470
Other debtors605,425604,301
Total641,060652,771
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,322-
Taxation and social security29,57374,219
Other creditors881
Total32,90374,300
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,6761,674
Total2,6761,674
8.Related party transactions
The financial statements contain the following significant transactions and balances with related parties: Northandsouth Estates Ltd, a company under common control, Current assets: Debtors £603,911 (2023: £603,911)