Registered number
12376509
Northaus Limited
Unaudited Filleted Accounts
31 December 2024
Northaus Limited
Registered number: 12376509
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 73,110 425,760
73,110 425,760
Current assets
Cash at bank and in hand 78,670 7,212
78,670 7,212
Creditors: amounts falling due within one year 4 (65,701) (396,667)
Net current assets/(liabilities) 12,969 (389,455)
Total assets less current liabilities 86,079 36,305
Creditors: amounts falling due after more than one year 5 (49,722) (49,722)
Provisions for liabilities - -
Net assets/(liabilities) 36,357 (13,417)
Capital and reserves
Called up share capital 100 100
Profit and loss account 36,257 (13,517)
Shareholders' funds 36,357 (13,417)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A F Motin
Director
Approved by the board on 12 February 2025
Northaus Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rental of real estate. Turnover from the rental of real estate is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investment Property
Investment property is included at fair value. Gains are recognised in the Income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 January 2024 425,211 2,197 427,408
Additions - 1,923 1,923
Surplus on revaluation - - -
Disposals (353,818) - (353,818)
At 31 December 2024 71,393 4,120 75,513
Depreciation
At 1 January 2024 - 1,648 1,648
Charge for the year - 755 755
Surplus on revaluation - - -
On disposals - - -
At 31 December 2024 - 2,403 2,403
Net book value
At 31 December 2024 71,393 1,717 73,110
At 31 December 2023 425,211 549 425,760
Freehold land and buildings: 2024 2023
£ £
Historical cost 71,393 425,211
71,393 425,211
In order to ascertain the fair value of Investment properties and fair value movement, investment properties are valued by the director based on similar properties in the locality and reviews conducted on an open market valuation of a freehold basis. It is the opinion of the director that the fair value has remained the same as the purchase price of the investment properties owned by the company.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 309,153
Taxation and social security costs 12,603 -
Other creditors 53,098 87,514
65,701 396,667
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 49,722 49,722
49,722 49,722
6 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 49,722 49,722
49,722 49,722
Secured bank loans 49,722 358,875
Security in given upon the freehold interest of the investment property owed by the company.
7 Other information
Northaus Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 George Street West
Luton
Bedfordshire
LU1 2BJ
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