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REGISTERED NUMBER: 10174812 (England and Wales)















Nori Financial Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






Nori Financial Limited (Registered number: 10174812)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Nori Financial Limited

Company Information
for the Year Ended 31 May 2024







Directors: Charlotte Elaine Thompson
Thomas Geoffrey Ian Thompson





Registered office: Suite 14
The Beehive Lions Drive
Shadsworth Industrial Estate
Blackburn
Lancashire
BB1 2QS





Registered number: 10174812 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Nori Financial Limited (Registered number: 10174812)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 311,989 348,268
Tangible assets 5 76,650 102,001
Investments 6 450,135 263,227
838,774 713,496

Current assets
Debtors 7 160,470 109,310
Cash at bank 389,922 334,610
550,392 443,920
Creditors
Amounts falling due within one year 8 147,081 142,176
Net current assets 403,311 301,744
Total assets less current liabilities 1,242,085 1,015,240

Creditors
Amounts falling due after more than one
year

9

(205,095

)

(257,045

)

Provisions for liabilities 10 (19,163 ) (25,500 )
Net assets 1,017,827 732,695

Nori Financial Limited (Registered number: 10174812)

Statement of Financial Position - continued
31 May 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 11 100 100
Revaluation reserve 221,640 39,945
Retained earnings 796,087 692,650
Shareholders' funds 1,017,827 732,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 13 December 2024 and were signed on its behalf by:





Thomas Geoffrey Ian Thompson - Director


Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. Statutory information

Nori Financial 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for pension planning and investment management services rendered.

Goodwill
Amortisation of goodwill has not been provided for by the company as in the opinion of the director it has an indefinite useful economic life. This accounting policy departs from the usual requirements of FRS 102 to amortise goodwill over a finite period. The effect of the departure is that amortisation as required by the requirements of FRS 102 has not been accounted for. If amortisation had been accounted for the charge for the year would have amounted to £36,270 and the profit for the year reduced accordingly.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.


Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. Accounting policies - continued
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.

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.

Fixed asset investments
Quoted shares are valued at the quoted market price on the London Stock Exchange.

3. Employees and directors

The average number of employees during the year was 4 (2023 - 4 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 June 2023 362,704
Disposals (50,715 )
At 31 May 2024 311,989
Amortisation
At 1 June 2023 14,436
Charge written back (14,436 )
At 31 May 2024 -
Net book value
At 31 May 2024 311,989
At 31 May 2023 348,268

Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 June 2023
and 31 May 2024 8,297 98,999 6,364 113,660
Depreciation
At 1 June 2023 5,295 - 6,364 11,659
Charge for year 601 24,750 - 25,351
At 31 May 2024 5,896 24,750 6,364 37,010
Net book value
At 31 May 2024 2,401 74,249 - 76,650
At 31 May 2023 3,002 98,999 - 102,001

6. Fixed asset investments
Other
investments
£   
Cost or valuation
At 1 June 2023 263,227
Additions 186,908
At 31 May 2024 450,135
Net book value
At 31 May 2024 450,135
At 31 May 2023 263,227

Cost or valuation at 31 May 2024 is represented by:

Other
investments
£   
Valuation in 2022 207,098
Valuation in 2023 55,442
Valuation in 2023 687
Valuation in 2024 186,908
450,135

Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 39,942 87,765
Other debtors 120,528 21,545
160,470 109,310

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 11,060 11,060
Trade creditors 1,988 16,870
Taxation and social security 99,009 61,549
Other creditors 35,024 52,697
147,081 142,176

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 71,880 82,939
Other creditors 133,215 174,106
205,095 257,045

Included within creditors: amount falling due after more than one year is an amount of £20038 in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 19,163 25,500

Deferred
tax
£   
Balance at 1 June 2023 25,500
Credit to Statement of Income and Retained Earnings during year (6,337 )
Balance at 31 May 2024 19,163

Nori Financial Limited (Registered number: 10174812)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

11. Called up share capital

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

12. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Charlotte Elaine Thompson
Balance outstanding at start of year 8,257 -
Amounts advanced 127,408 8,257
Amounts repaid (98,081 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,584 8,257

Thomas Geoffrey Ian Thompson
Balance outstanding at start of year 8,257 -
Amounts advanced 127,408 8,257
Amounts repaid (98,081 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,584 8,257