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COMPANY REGISTRATION NUMBER: 09601686
NORTH STREET EXETER LIMITED
Filleted Unaudited Financial Statements
31 May 2024
NORTH STREET EXETER LIMITED
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
760,419
737,419
Current assets
Cash at bank and in hand
100
100
Creditors: amounts falling due within one year
5
374,844
300,052
---------
---------
Net current liabilities
374,744
299,952
---------
---------
Total assets less current liabilities
385,675
437,467
Creditors: amounts falling due after more than one year
6
384,337
437,028
---------
---------
Net assets
1,338
439
---------
---------
NORTH STREET EXETER LIMITED
Statement of Financial Position (continued)
31 May 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,238
339
-------
----
Shareholders funds
1,338
439
-------
----
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 year ending 31 May 2024 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 year 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 .
These financial statements were approved by the board of directors and authorised for issue on 14 February 2025 , and are signed on behalf of the board by:
Mr J M C King
Director
Company registration number: 09601686
NORTH STREET EXETER LIMITED
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Powderham Crescent, Exeter, EX4 6DA.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
4. Tangible assets
Land and buildings
Building Development
Total
£
£
£
Cost
At 1 June 2023
603,148
134,271
737,419
Additions
23,000
23,000
---------
---------
---------
At 31 May 2024
603,148
157,271
760,419
---------
---------
---------
Depreciation
At 1 June 2023 and 31 May 2024
---------
---------
---------
Carrying amount
At 31 May 2024
603,148
157,271
760,419
---------
---------
---------
At 31 May 2023
603,148
134,271
737,419
---------
---------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
52,860
8,000
Corporation tax
291
80
Other creditors
321,693
291,972
---------
---------
374,844
300,052
---------
---------
The bank loan capital of ££7,000 (2023 - £6,000) is secured by fixed and floating charges over the company's assets.
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
384,337
437,028
---------
---------
The bank loan capital of £380,585 (2023 - £433,276) is secured by fixed and floating charges over the company's assets.