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REGISTERED NUMBER: 11953114 (England and Wales)















NORTH GROUP (LINCS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


NORTH GROUP (LINCS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: L J North
L C North



REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF



REGISTERED NUMBER: 11953114 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



BANKERS: Lloyds Bank
2 North Gate
Sleaford
Lincolnshire
NG347BL

NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,834 65,196
Investment property 5 395,000 -
466,834 65,196

CURRENT ASSETS
Stocks 2,246 204,125
Debtors 6 381,368 240,075
Cash at bank 148,608 185,469
532,222 629,669
CREDITORS
Amounts falling due within one year 7 378,236 276,301
NET CURRENT ASSETS 153,986 353,368
TOTAL ASSETS LESS CURRENT LIABILITIES 620,820 418,564

CREDITORS
Amounts falling due after more than one year 8 (41,058 ) (42,434 )

PROVISIONS FOR LIABILITIES (15,471 ) (13,738 )
NET ASSETS 564,291 362,392

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 564,191 362,292
SHAREHOLDERS' FUNDS 564,291 362,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:




L J North - Director



L C North - Director


NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

North Group (Lincs) 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.

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.

Turnover
Turnover represents the fair value of consideration received for the provision of electrical engineering and contracting services, excluding value added tax. Income is recognised in the period in which the services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% on cost

Tangible fixed assets are held at cost less accumulated depreciation.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2023 - 7 ) .

NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Improvements
to
leasehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 12,142 6,907 95,863 3,216 118,128
Additions - - 28,491 682 29,173
Disposals - - - (300 ) (300 )
At 30 April 2024 12,142 6,907 124,354 3,598 147,001
DEPRECIATION
At 1 May 2023 1,897 1,875 46,615 2,545 52,932
Charge for year 1,214 1,258 19,435 625 22,532
Eliminated on disposal - - - (297 ) (297 )
At 30 April 2024 3,111 3,133 66,050 2,873 75,167
NET BOOK VALUE
At 30 April 2024 9,031 3,774 58,304 725 71,834
At 30 April 2023 10,245 5,032 49,248 671 65,196

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 395,000
At 30 April 2024 395,000
NET BOOK VALUE
At 30 April 2024 395,000

The investment properties were valued by the directors as at 30 April 2024 by considering the fair values of recent, comparable property sales in the local area.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 141,077 169,527
Amounts owed by associates 176,781 62,160
Other debtors 62,830 7,505
Prepayments and accrued income 680 883
381,368 240,075

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 12,789 10,729
Trade creditors 212,205 110,049
Taxation and social security 95,801 96,042
Other creditors 47,441 49,481
378,236 276,301

NORTH GROUP (LINCS) LIMITED (REGISTERED NUMBER: 11953114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,667 21,667
Hire purchase contracts 29,391 20,767
41,058 42,434

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 42,180 31,496

Hire purchase contracts are secured on the asset to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100