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REGISTERED NUMBER: 07338556 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29 February 2024

for

NORTHWOOD DULWICH LIMITED

NORTHWOOD DULWICH LIMITED (REGISTERED NUMBER: 07338556)






Contents of the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTHWOOD DULWICH LIMITED

Company Information
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr S L Williams Junior
Mrs J N Williams





REGISTERED OFFICE: 493 Northwood Road
London
England
SE27 9DJ





REGISTERED NUMBER: 07338556 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

NORTHWOOD DULWICH LIMITED (REGISTERED NUMBER: 07338556)

Balance Sheet
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 417,825 83,100
Property, plant and equipment 5 30,647 35,449
Investments 6 829,813 829,813
1,278,285 948,362

CURRENT ASSETS
Debtors 7 102,909 102,364
Cash at bank 86,472 170,753
189,381 273,117
CREDITORS
Amounts falling due within one year 8 678,763 321,536
NET CURRENT LIABILITIES (489,382 ) (48,419 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

788,903

899,943

CREDITORS
Amounts falling due after more than one
year

9

387,025

419,857
NET ASSETS 401,878 480,086

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 401,778 479,986
SHAREHOLDERS' FUNDS 401,878 480,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NORTHWOOD DULWICH LIMITED (REGISTERED NUMBER: 07338556)

Balance Sheet - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





Mr S L Williams Junior - Director


NORTHWOOD DULWICH LIMITED (REGISTERED NUMBER: 07338556)

Notes to the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Northwood Dulwich Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Northwood Dulwich Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements.

Turnover
Revenue is recognised at the fair value of the consideration received or receivable for services rendered during the year in the normal course of business, and is shown net of VAT and other sales related taxes.

Goodwill
Goodwill, being the amount paid in connection with purchase of franchise and is being amortised evenly over 10 years.

NORTHWOOD DULWICH LIMITED (REGISTERED NUMBER: 07338556)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Such cost included costs directly attributable to making the asset capable of operating as intended.
The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis:

Short Leasehold- Over the life of the lease
Plant and machinery- 25% on reducing balance
Fixtures and fittings- 25% on reducing balance
Motor vehicles- 25% on reducing balance
Computer Equipment -25% on straight line basis

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

NORTHWOOD DULWICH LIMITED (REGISTERED NUMBER: 07338556)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023 217,750
Additions 395,000
At 29 February 2024 612,750
AMORTISATION
At 1 March 2023 134,650
Charge for year 60,275
At 29 February 2024 194,925
NET BOOK VALUE
At 29 February 2024 417,825
At 28 February 2023 83,100

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 March 2023 59,000 9,364 13,599
Additions - - -
Disposals (59,000 ) - (10,558 )
At 29 February 2024 - 9,364 3,041
DEPRECIATION
At 1 March 2023 36,875 7,860 10,995
Charge for year - 1,389 181
Eliminated on disposal (36,875 ) - (8,676 )
At 29 February 2024 - 9,249 2,500
NET BOOK VALUE
At 29 February 2024 - 115 541
At 28 February 2023 22,125 1,504 2,604

NORTHWOOD DULWICH LIMITED (REGISTERED NUMBER: 07338556)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 20,272 1,974 104,209
Additions 31,233 2,379 33,612
Disposals (11,277 ) - (80,835 )
At 29 February 2024 40,228 4,353 56,986
DEPRECIATION
At 1 March 2023 12,536 494 68,760
Charge for year 9,073 1,088 11,731
Eliminated on disposal (8,601 ) - (54,152 )
At 29 February 2024 13,008 1,582 26,339
NET BOOK VALUE
At 29 February 2024 27,220 2,771 30,647
At 28 February 2023 7,736 1,480 35,449

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 March 2023
and 29 February 2024 829,813
NET BOOK VALUE
At 29 February 2024 829,813
At 28 February 2023 829,813

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 102,909 102,364

NORTHWOOD DULWICH LIMITED (REGISTERED NUMBER: 07338556)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 109,189 -
Amounts owed to group undertakings 305,419 64,564
Amounts owed to connected companies 113,476 121,476
Taxation and social security 24,952 31,408
Other creditors 125,727 104,088
678,763 321,536

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 387,025 419,857

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 387,025 419,857

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 496,214 419,857

Other loan is secured by way of fixed and floating charges over the all the property or undertakings of the company and contains negative pledge.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr S L Williams Junior
Balance outstanding at start of year 98,489 68,166
Amounts advanced 121,145 128,980
Amounts repaid (120,600 ) (98,657 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 99,034 98,489

During the year, interest for £1645 was charged at the official interest rate on the overdrawn loan balance.

NORTHWOOD DULWICH LIMITED (REGISTERED NUMBER: 07338556)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in creditors, amounts falling due within one year, is an amount of £113,476 (2023: £121,476) owed to a connected company. The companies are connected by virtue of having a common director. The loan is interest free and repayable on demand.