Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 07374869 Mr Simon Kellett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07374869 2023-12-31 07374869 2024-12-31 07374869 2024-01-01 2024-12-31 07374869 frs-core:CurrentFinancialInstruments 2024-12-31 07374869 frs-core:Non-currentFinancialInstruments 2024-12-31 07374869 frs-core:ComputerEquipment 2024-12-31 07374869 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07374869 frs-core:ComputerEquipment 2023-12-31 07374869 frs-core:FurnitureFittings 2024-12-31 07374869 frs-core:FurnitureFittings 2024-01-01 2024-12-31 07374869 frs-core:FurnitureFittings 2023-12-31 07374869 frs-core:MotorVehicles 2024-12-31 07374869 frs-core:MotorVehicles 2024-01-01 2024-12-31 07374869 frs-core:MotorVehicles 2023-12-31 07374869 frs-core:PlantMachinery 2024-12-31 07374869 frs-core:PlantMachinery 2024-01-01 2024-12-31 07374869 frs-core:PlantMachinery 2023-12-31 07374869 frs-core:CapitalRedemptionReserve 2024-12-31 07374869 frs-core:ShareCapital 2024-12-31 07374869 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07374869 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07374869 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07374869 frs-bus:SmallEntities 2024-01-01 2024-12-31 07374869 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07374869 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07374869 frs-bus:Director1 2024-01-01 2024-12-31 07374869 frs-countries:EnglandWales 2024-01-01 2024-12-31 07374869 2022-12-31 07374869 2023-12-31 07374869 2023-01-01 2023-12-31 07374869 frs-core:CurrentFinancialInstruments 2023-12-31 07374869 frs-core:Non-currentFinancialInstruments 2023-12-31 07374869 frs-core:CapitalRedemptionReserve 2023-12-31 07374869 frs-core:ShareCapital 2023-12-31 07374869 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 07374869
Northern Sealants Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07374869
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 46,940 20,705
46,940 20,705
CURRENT ASSETS
Debtors 5 182,233 424,818
Cash at bank and in hand 183,486 133,320
365,719 558,138
Creditors: Amounts Falling Due Within One Year 6 (154,973 ) (321,641 )
NET CURRENT ASSETS (LIABILITIES) 210,746 236,497
TOTAL ASSETS LESS CURRENT LIABILITIES 257,686 257,202
Creditors: Amounts Falling Due After More Than One Year 7 - (19,908 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,054 ) (4,876 )
NET ASSETS 253,632 232,418
CAPITAL AND RESERVES
Called up share capital 8 51 102
Capital redemption reserve 51 -
Profit and Loss Account 253,530 232,316
SHAREHOLDERS' FUNDS 253,632 232,418
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Kellett
Director
07/02/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Northern Sealants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07374869 . The registered office is Unit B2 Treefield Industrial Estate, Gelderd Rd, Leeds , West Yorkshire, LS27 7JU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance Method
Motor Vehicles 25% Reducing Balance Method
Fixtures & Fittings 20% Straight Line Method
Computer Equipment 25% Straight Line Method
2.4. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 9)
7 9
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 4,609 47,114 2,570 3,951 58,244
Additions 2,181 41,490 855 305 44,831
Disposals (6,790 ) (19,000 ) - (4,256 ) (30,046 )
As at 31 December 2024 - 69,604 3,425 - 73,029
Depreciation
As at 1 January 2024 697 34,071 817 1,954 37,539
Provided during the period 753 6,216 571 489 8,029
Disposals (1,450 ) (15,586 ) - (2,443 ) (19,479 )
As at 31 December 2024 - 24,701 1,388 - 26,089
Net Book Value
As at 31 December 2024 - 44,903 2,037 - 46,940
As at 1 January 2024 3,912 13,043 1,753 1,997 20,705
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 64,992 389,600
Prepayments and accrued income 14,401 3,163
Other debtors 94,646 -
VAT 8,194 32,055
182,233 424,818
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,619 82,977
Bank loans and overdrafts - 10,015
Corporation tax 136,472 101,576
Other taxes and social security 6,902 14,299
Other creditors 310 -
Accruals and deferred income - 112,150
Directors' loan accounts 670 624
154,973 321,641
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 19,908
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 51 102
9. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the Balance sheet date unpaid contributions of £310 (PY £Nil) were due to the fund. They are included in Other Creditors.
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