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Registered number: 12637167
North Star Mortgage & Financial Services Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—7
Page 1
Company Information
Directors Mrs Heather Lewis
Mr David Lewis
Company Number 12637167
Registered Office Unit 1 Green Lake Courtyard
Green Lake Lane
Aldford
Chester
CH3 6HW
Accountants Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of North Star Mortgage & Financial Services Ltd for the year ended 31 December 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of North Star Mortgage & Financial Services Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of North Star Mortgage & Financial Services Ltd , as a body, in accordance with the terms of our engagement letter dated 12 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of North Star Mortgage & Financial Services Ltd and state those matters that we have agreed to state to the directors of North Star Mortgage & Financial Services Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North Star Mortgage & Financial Services Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that North Star Mortgage & Financial Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of North Star Mortgage & Financial Services Ltd . You consider that North Star Mortgage & Financial Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of North Star Mortgage & Financial Services Ltd . 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 financial statements.
Signed
3rd March 2025
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 2
Page 3
Balance Sheet
Registered number: 12637167
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,340 36,160
29,340 36,160
CURRENT ASSETS
Debtors 5 7,113 1,876
Cash at bank and in hand 37,959 9,316
45,072 11,192
Creditors: Amounts Falling Due Within One Year 6 (27,056 ) (12,792 )
NET CURRENT ASSETS (LIABILITIES) 18,016 (1,600 )
TOTAL ASSETS LESS CURRENT LIABILITIES 47,356 34,560
Creditors: Amounts Falling Due After More Than One Year 7 (68,289 ) (30,128 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 - (1,579 )
NET (LIABILITIES)/ASSETS (20,933 ) 2,853
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account (20,935 ) 2,851
SHAREHOLDERS' FUNDS (20,933) 2,853
Page 3
Page 4
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
Mrs Heather Lewis
Director
3rd March 2025
The notes on pages 5 to 7 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
North Star Mortgage & Financial Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12637167 . The registered office is Unit 1 Green Lake Courtyard, Green Lake Lane, Aldford, Chester, CH3
6HW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The trading adress is Unit 1, Green Lake Courtyard, Green Lake Lane, Aldford, Chester, England, CH3 6HW.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, 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
Motor Vehicles 25% Reducing balance
Computer Equipment 33% Straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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.
...CONTINUED
Page 5
Page 6
2.5. Taxation - continued
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.
The company has taxable losses of £26,733 to be carried forward and utilized against future profits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 3,395 50,195 4,444 58,034
Additions 2,251 - 998 3,249
As at 31 December 2024 5,646 50,195 5,442 61,283
Depreciation
As at 1 January 2024 1,517 16,599 3,758 21,874
Provided during the period 1,010 8,399 660 10,069
As at 31 December 2024 2,527 24,998 4,418 31,943
Net Book Value
As at 31 December 2024 3,119 25,197 1,024 29,340
As at 1 January 2024 1,878 33,596 686 36,160
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 885 1,795
Other debtors 6,228 81
7,113 1,876
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,646 4,260
Bank loans and overdrafts 10,341 -
Other creditors 9,250 2,225
Taxation and social security 2,819 6,307
27,056 12,792
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Page 7
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,097 30,128
Bank loans 43,192 -
68,289 30,128
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,646 4,260
Later than one year and not later than five years 25,097 30,128
29,743 34,388
29,743 34,388
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences - 1,579
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.000 each 2 2
Page 7