Company Registration No. 06464488 (England and Wales)
North Property Services Limited
Unaudited accounts
for the year ended 31 March 2024
North Property Services Limited
Unaudited accounts
Contents
North Property Services Limited
Company Information
for the year ended 31 March 2024
Company Number
06464488 (England and Wales)
Registered Office
61 Plodder Lane
Farnworth
BL4 0BX
Accountants
Daniel Sam Limited
61 Plodder Lane
Farnworth
Bolton
BL4 0BX
North Property Services Limited
Statement of financial position
as at 31 March 2024
Tangible assets
2,676
2,195
Investment property
282,661
267,000
Cash at bank and in hand
-
10,646
Creditors: amounts falling due within one year
(26,878)
(67,890)
Net current liabilities
(24,287)
(50,582)
Total assets less current liabilities
261,050
218,613
Creditors: amounts falling due after more than one year
(241,094)
(173,062)
Provisions for liabilities
Deferred tax
(4,293)
(9,555)
Called up share capital
2
2
Profit and loss account
15,661
35,994
Shareholders' funds
15,663
35,996
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 October 2024 and were signed on its behalf by
I Daniel-Sam
Director
Company Registration No. 06464488
North Property Services Limited
Notes to the Accounts
for the year ended 31 March 2024
North Property Services Limited is a private company, limited by shares, registered in England and Wales, registration number 06464488. The registered office is 61 Plodder Lane, Farnworth, BL4 0BX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Computer equipment
20% on cost
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
North Property Services Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
6,608
-
6,608
At 31 March 2024
7,643
115
7,758
At 1 April 2023
4,413
-
4,413
Charge for the year
646
23
669
At 31 March 2024
5,059
23
5,082
At 31 March 2024
2,584
92
2,676
At 31 March 2023
2,195
-
2,195
Fair value at 1 April 2023
267,000
The director considers the above amount to be reflective of the properties' aggregate fair value as at 31 March 2024.
Amounts falling due within one year
Accrued income and prepayments
1,224
1,745
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
26,472
5,555
Taxes and social security
-
3,534
Loans from directors
-
47,041
North Property Services Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
83,763
132,959
Loans from directors
120,918
-
9
Average number of employees
During the year the average number of employees was 3 (2023: 4).