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Registered number: 11227358
Northern Line Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11227358
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 466,997 468,108
466,997 468,108
CURRENT ASSETS
Cash at bank and in hand 2,925 9,889
2,925 9,889
Creditors: Amounts Falling Due Within One Year 5 (71,028 ) (86,969 )
NET CURRENT ASSETS (LIABILITIES) (68,103 ) (77,080 )
TOTAL ASSETS LESS CURRENT LIABILITIES 398,894 391,028
Creditors: Amounts Falling Due After More Than One Year 6 (409,158 ) (412,866 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,339 ) (6,339 )
NET LIABILITIES (16,603 ) (28,177 )
CAPITAL AND RESERVES
Called up share capital 8 51 51
Fair value reserve 9 29,182 29,182
Profit and Loss Account (45,836 ) (57,410 )
SHAREHOLDERS' FUNDS (16,603) (28,177)
Page 1
Page 2
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 member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Miller
Director
28/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Northern Line Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11227358 . The registered office is Office 15 Bramley House 2a, Bramley Road, Long Eaton, Nottinghamshire, NG10 3SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% straight line basis
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Investment Properties Computer Equipment Total
£ £ £
Cost
As at 6 April 2023 464,975 4,441 469,416
As at 31 March 2024 464,975 4,441 469,416
Depreciation
As at 6 April 2023 - 1,308 1,308
Provided during the period - 1,111 1,111
As at 31 March 2024 - 2,419 2,419
...CONTINUED
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Net Book Value
As at 31 March 2024 464,975 2,022 466,997
As at 6 April 2023 464,975 3,133 468,108
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 1,040 477
Other creditors (1) 375 -
Director's loan account 69,613 86,492
71,028 86,969
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 369,158 372,866
Other creditors 40,000 40,000
409,158 412,866
7. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 343,410 343,361
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 51 51
9. Reserves
Fair Value Reserve
£
As at 6 April 2023 29,182
As at 31 March 2024 29,182
10. Ultimate Controlling Party
The company's ultimate controlling party is Christopher Miller by virtue of his ownership of 100% of the issued share capital in the company.
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