Acorah Software Products - Accounts Production 15.0.600 false true true false 11 December 2023 31 December 2024 31 December 2024 15342887 Mr Paul Henderson Ms Gemma Ryder Mr Keith Waterfield Mr Colin Wilson Mr Simon Vinall iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15342887 2023-12-10 15342887 2024-12-31 15342887 2023-12-11 2024-12-31 15342887 frs-core:CurrentFinancialInstruments 2024-12-31 15342887 frs-core:FurnitureFittings 2024-12-31 15342887 frs-core:FurnitureFittings 2023-12-11 2024-12-31 15342887 frs-core:FurnitureFittings 2023-12-10 15342887 frs-core:ShareCapital 2024-12-31 15342887 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 15342887 frs-bus:PrivateLimitedCompanyLtd 2023-12-11 2024-12-31 15342887 frs-bus:FilletedAccounts 2023-12-11 2024-12-31 15342887 frs-bus:SmallEntities 2023-12-11 2024-12-31 15342887 frs-bus:AuditExempt-NoAccountantsReport 2023-12-11 2024-12-31 15342887 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-11 2024-12-31 15342887 frs-bus:Director1 2023-12-11 2024-12-31 15342887 frs-bus:Director2 2023-12-11 2024-12-31 15342887 frs-bus:Director3 2023-12-11 2024-12-31 15342887 frs-bus:Director4 2023-12-11 2024-12-31 15342887 frs-bus:Director5 2023-12-11 2024-12-31 15342887 frs-countries:EnglandWales 2023-12-11 2024-12-31
Registered number: 15342887
Northsouth Creative Limited
Unaudited Financial Statements
For the Period 11 December 2023 to 31 December 2024
Goldwyns London LLP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 15342887
31 December 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 982
982
CURRENT ASSETS
Debtors 5 5,460
Cash at bank and in hand 27,597
33,057
Creditors: Amounts Falling Due Within One Year 6 (17,847 )
NET CURRENT ASSETS (LIABILITIES) 15,210
TOTAL ASSETS LESS CURRENT LIABILITIES 16,192
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (187 )
NET ASSETS 16,005
CAPITAL AND RESERVES
Called up share capital 8 100
Income Statement 15,905
SHAREHOLDERS' FUNDS 16,005
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For the period 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 Income Statement.
On behalf of the board
Mr Keith Waterfield
Director
24/03/2025
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
Northsouth Creative Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15342887 . The registered office is C/O Goldwyns London LLP, No.1 Royal Exchange, London, EC3V 3DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are prepared 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 financial statements have been prepared under the historical cost convention.
These financial statements for the period ended 31 December 2024 are the first financial statements of Northsouth Creative Limited prepared in accordance with FRS 102 (Section 1A), The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of adoption to FRS 102 (Section 1A) was 11 December 2023.                                                         
The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will  continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements. 
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. 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:
Fixtures & Fittings 15% Reducing Balance
2.5. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.6. Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it related 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 statement of financial position date.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.7. Cash And Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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2.8. Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below: 
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers.These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 5
5
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 11 December 2023 -
Additions 1,155
As at 31 December 2024 1,155
Depreciation
As at 11 December 2023 -
Provided during the period 173
As at 31 December 2024 173
Net Book Value
As at 31 December 2024 982
As at 11 December 2023 -
5. Debtors
31 December 2024
£
Due within one year
Trade debtors 5,400
Shareholders' Loan Account 60
5,460
6. Creditors: Amounts Falling Due Within One Year
31 December 2024
£
Trade creditors 4,128
Corporation tax 7,718
VAT 3,181
Directors' loan accounts 2,820
17,847
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7. Deferred Taxation
The provision for deferred tax is made up as follows:
31 December 2024
£
Other timing differences 187
8. Share Capital
31 December 2024
£
Allotted, Called up and fully paid 100
During the period, the company issued 100 Ordinary Shares for the nominal value of £1 per share.
9. Related Party Transactions
As at the period-end, the shareholders' loan account balance is £60, which is a current asset, is interest free and repayable on demand.
As at the period-end, the Director's Loan account balance of Mr K Waterfield  is £290, which is a current liability, is interest free and repayable on demand.
As at the period-end, the Director's Loan account balance of Mr C Wilson  is £100, which is a current liability, is interest free and repayable on demand.
As at the period-end, the Director's Loan account balance of Mr S T Vinall  is £80, which is a current liability, is interest free and repayable on demand.
As at the period-end, the Director's Loan account balance of Ms G K Ryder  is £100, which is a current liability, is interest free and repayable on demand.
As at the period-end, the Director's Loan account balance of Mr P Henderson  is £2,250, which is a current liability, is interest free and repayable on demand.
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