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Registered number: 08227429










NORTH 21 CONSULTANCY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
NORTH 21 CONSULTANCY LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2
Statement of Changes in Equity
 
 
3
Notes to the Financial Statements
 
 
4 - 8


 
NORTH 21 CONSULTANCY LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NORTH 21 CONSULTANCY LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North 21 Consultancy Limited for the year ended 30 September 2024 which comprise the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of North 21 Consultancy Limited in accordance with the terms of our engagement letter dated 08 November 2019Our work has been undertaken solely to prepare for your approval the financial statements of North 21 Consultancy Limited and state those matters that we have agreed to state to the director of North 21 Consultancy Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North 21 Consultancy Limited and its director for our work or for this report. 

It is your duty to ensure that North 21 Consultancy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of North 21 Consultancy Limited. You consider that North 21 Consultancy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of North 21 Consultancy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  

BAGINSKY COHEN
CHARTERED ACCOUNTANTS
930 HIGH ROAD
LONDON
N12 9RT
21 February 2025
Page 1

 
NORTH 21 CONSULTANCY LIMITED
REGISTERED NUMBER: 08227429

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

FIXED ASSETS
  

Tangible assets
  
190
285

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
12,633
19,878

Cash at bank and in hand
 7 
81,629
127,373

  
94,262
147,251

Creditors: amounts falling due within one year
 8 
(26,370)
(56,085)

NET CURRENT ASSETS
  
 
 
67,892
 
 
91,166

TOTAL ASSETS LESS CURRENT LIABILITIES
  
68,082
91,451

Creditors: amounts falling due after more than one year
 9 
(4,560)
(9,884)

  

NET ASSETS
  
63,522
81,567


CAPITAL AND RESERVES
  

Called up share capital 
 11 
100
100

Profit and loss account
 12 
63,422
81,467

  
63,522
81,567


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 February 2025.

P A DEBNEY
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
NORTH 21 CONSULTANCY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 OCTOBER 2022
100
46,198
46,298


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
105,269
105,269

Dividends: Equity capital
-
(70,000)
(70,000)



At 1 OCTOBER 2023
100
81,467
81,567


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
61,955
61,955

Dividends: Equity capital
-
(80,000)
(80,000)


AT 30 SEPTEMBER 2024
100
63,422
63,522


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
NORTH 21 CONSULTANCY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.ACCOUNTING POLICIES

 
1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
1.3

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
1.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.5

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
1.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
NORTH 21 CONSULTANCY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)


1.6
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.7

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.8

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.10

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


3.


DIRECTOR'S REMUNERATION

2024
2023
£
£

Director's emoluments
12,540
12,540


Page 5

 
NORTH 21 CONSULTANCY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


TAXATION


2024
2023
£
£

CORPORATION TAX


Current tax on profits for the year
17,708
29,395


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 21.86% (2023 - 22%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
79,663
134,664


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 22%)
17,398
29,626

EFFECTS OF:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
707
578

Capital allowances for year in excess of depreciation
21
21

 Increase (decrease) in taxation due to change in tax rate during the year.
136
12

Marginal relief
(554)
(842)

TOTAL TAX CHARGE FOR THE YEAR
17,708
29,395


5.


DIVIDENDS

2024
2023
£
£

ORDINARY


Dividends
80,000
70,000


6.


DEBTORS

2024
2023
£
£


Other debtors
2,064
10,500

Prepayments and accrued income
10,569
9,378

12,633
19,878


Page 6

 
NORTH 21 CONSULTANCY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
81,629
127,373



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
5,324
4,699

Corporation tax
17,708
29,395

Other taxation and social security
-
246

Other creditors
938
19,345

Accruals and deferred income
2,400
2,400

26,370
56,085



9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
4,560
9,884



10.


LOANS


Analysis of the maturity of loans is given below:


2024
2023
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
5,324
4,699


AMOUNTS FALLING DUE 2-5 YEARS

Bank loans
4,560
9,884


9,884
14,583


Page 7

 
NORTH 21 CONSULTANCY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


RESERVES

Profit and loss account

This includes all current and prior period retained profit and losses. 


Page 8