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REGISTERED NUMBER: SC642537 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

NORTHERN LIGHTS HOME IMPROVEMENTS
LTD

NORTHERN LIGHTS HOME IMPROVEMENTS
LTD (REGISTERED NUMBER: SC642537)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTHERN LIGHTS HOME IMPROVEMENTS
LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTOR: J W Elliott





REGISTERED OFFICE: 21 Bridge Street
Ellon
AB41 9AA





REGISTERED NUMBER: SC642537 (Scotland)





ACCOUNTANTS: Goldwells
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

NORTHERN LIGHTS HOME IMPROVEMENTS
LTD (REGISTERED NUMBER: SC642537)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,177 111,868

CURRENT ASSETS
Stocks 614,366 163,269
Debtors 5 696,842 38,211
Cash at bank 718,856 1,447,749
2,030,064 1,649,229
CREDITORS
Amounts falling due within one year 6 313,102 283,703
NET CURRENT ASSETS 1,716,962 1,365,526
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,808,139

1,477,394

PROVISIONS FOR LIABILITIES 22,794 27,967
NET ASSETS 1,785,345 1,449,427

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,785,344 1,449,426
SHAREHOLDERS' FUNDS 1,785,345 1,449,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NORTHERN LIGHTS HOME IMPROVEMENTS
LTD (REGISTERED NUMBER: SC642537)

BALANCE SHEET - continued
30TH SEPTEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3rd March 2025 and were signed by:





J W Elliott - Director


NORTHERN LIGHTS HOME IMPROVEMENTS
LTD (REGISTERED NUMBER: SC642537)

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

1. STATUTORY INFORMATION

Northern Lights Home Improvements Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery- 25% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

NORTHERN LIGHTS HOME IMPROVEMENTS
LTD (REGISTERED NUMBER: SC642537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st October 2023 86,617 89,148 9,075 184,840
Additions 9,701 - - 9,701
At 30th September 2024 96,318 89,148 9,075 194,541
DEPRECIATION
At 1st October 2023 31,603 39,100 2,269 72,972
Charge for year 16,179 12,512 1,701 30,392
At 30th September 2024 47,782 51,612 3,970 103,364
NET BOOK VALUE
At 30th September 2024 48,536 37,536 5,105 91,177
At 30th September 2023 55,014 50,048 6,806 111,868

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,597 27,375
Other debtors 652,490 250
Prepayments and accrued income 6,755 10,586
696,842 38,211

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 46,043 51,970
Tax 117,312 115,485
Social security and other taxes 2,147 -
VAT 46,897 23,874
Other creditors 3,712 5,300
Directors' current accounts 94,786 84,974
Accrued expenses 2,205 2,100
313,102 283,703

Director's loan account is interest free and there is no fixed repayment terms.