7 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 110,000 38,500 5,500 44,000 66,000 71,500 xbrli:pure xbrli:shares iso4217:GBP 08189809 2022-09-01 2023-08-29 08189809 2023-08-29 08189809 2022-08-31 08189809 2021-09-01 2022-08-31 08189809 2022-08-31 08189809 2021-08-31 08189809 core:NetGoodwill 2022-09-01 2023-08-29 08189809 core:LandBuildings core:LongLeaseholdAssets 2022-09-01 2023-08-29 08189809 core:FurnitureFittings 2022-09-01 2023-08-29 08189809 bus:Director1 2022-09-01 2023-08-29 08189809 core:NetGoodwill 2022-08-31 08189809 core:NetGoodwill 2023-08-29 08189809 core:LandBuildings 2022-08-31 08189809 core:FurnitureFittings 2022-08-31 08189809 core:LandBuildings 2023-08-29 08189809 core:FurnitureFittings 2023-08-29 08189809 core:WithinOneYear 2023-08-29 08189809 core:WithinOneYear 2022-08-31 08189809 core:AfterOneYear 2023-08-29 08189809 core:AfterOneYear 2022-08-31 08189809 core:ShareCapital 2023-08-29 08189809 core:ShareCapital 2022-08-31 08189809 core:RetainedEarningsAccumulatedLosses 2023-08-29 08189809 core:RetainedEarningsAccumulatedLosses 2022-08-31 08189809 core:LandBuildings 2022-09-01 2023-08-29 08189809 core:NetGoodwill 2022-08-31 08189809 core:LandBuildings 2022-08-31 08189809 core:FurnitureFittings 2022-08-31 08189809 bus:SmallEntities 2022-09-01 2023-08-29 08189809 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-29 08189809 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-29 08189809 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-29 08189809 bus:FullAccounts 2022-09-01 2023-08-29 08189809 core:ComputerEquipment 2022-09-01 2023-08-29 08189809 core:ComputerEquipment 2023-08-29 08189809 core:ComputerEquipment 2022-08-31
COMPANY REGISTRATION NUMBER: 08189809
NORTH LEEDS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 August 2023
NORTH LEEDS LIMITED
STATEMENT OF FINANCIAL POSITION
29 August 2023
29 Aug 23
31 Aug 22
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
66,000
71,500
Tangible assets
6
11,093
12,765
--------
--------
77,093
84,265
CURRENT ASSETS
Debtors
7
63,265
67,751
Cash at bank and in hand
27,678
122,046
--------
---------
90,943
189,797
CREDITORS: amounts falling due within one year
8
( 73,131)
( 92,150)
--------
---------
NET CURRENT ASSETS
17,812
97,647
--------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
94,905
181,912
CREDITORS: amounts falling due after more than one year
9
( 18,053)
( 27,210)
PROVISIONS
Taxation including deferred tax
( 529)
( 688)
--------
---------
NET ASSETS
76,323
154,014
--------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
76,223
153,914
--------
---------
SHAREHOLDERS FUNDS
76,323
154,014
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 29 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NORTH LEEDS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 August 2023
These financial statements were approved by the board of directors and authorised for issue on 12 February 2025 , and are signed on behalf of the board by:
O J Berson
Director
Company registration number: 08189809
NORTH LEEDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 SEPTEMBER 2022 TO 29 AUGUST 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 69 Street Lane, Leeds, LS8 2AL, West Yorkshire.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
5% straight line
Fixtures & Fittings
-
15% reducing balance
Computer Equipment
-
33% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 7 (2022: 6 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 September 2022 and 29 August 2023
110,000
---------
Amortisation
At 1 September 2022
38,500
Charge for the period
5,500
---------
At 29 August 2023
44,000
---------
Carrying amount
At 29 August 2023
66,000
---------
At 31 August 2022
71,500
---------
6. TANGIBLE ASSETS
Leasehold improvements
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 September 2022 and 29 August 2023
16,644
10,659
8,337
35,640
--------
--------
-------
--------
Depreciation
At 1 September 2022
7,502
7,877
7,496
22,875
Charge for the period
833
418
421
1,672
--------
--------
-------
--------
At 29 August 2023
8,335
8,295
7,917
24,547
--------
--------
-------
--------
Carrying amount
At 29 August 2023
8,309
2,364
420
11,093
--------
--------
-------
--------
At 31 August 2022
9,142
2,782
841
12,765
--------
--------
-------
--------
7. DEBTORS
29 Aug 23
31 Aug 22
£
£
Trade debtors
31,391
18,201
Other debtors
31,874
49,550
--------
--------
63,265
67,751
--------
--------
8. CREDITORS: amounts falling due within one year
29 Aug 23
31 Aug 22
£
£
Bank loans and overdrafts
12,322
10,646
Trade creditors
11,802
11,807
Corporation tax
30,062
Social security and other taxes
39,120
32,536
Other creditors
9,887
7,099
--------
--------
73,131
92,150
--------
--------
9. CREDITORS: amounts falling due after more than one year
29 Aug 23
31 Aug 22
£
£
Bank loans and overdrafts
18,053
27,210
--------
--------