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Logo On Report
Registered Number: 06997128


 

 

 

NORTHERN STAR FLOORING LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Directors Benjamin Brooker
Russell Gamble
Aaron Scott
Registered Number 06997128
Registered Office Unit 7a
Tokenspire Business Park
Woodmansey
EAST YORKSHIRE
HU17 0TB
Accountants Kendall Accountancy Services Limited
2 Exeter Street
Cottingham
Hull
East Yorkshire
HU16 4LU
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 June 2024.
Directors
The directors who served the company throughout the year were as follows:
Benjamin Brooker
Russell Gamble
Aaron Scott
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Benjamin Brooker
Director

Date approved: 27 March 2025
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Northern Star Flooring Limited for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Northern Star Flooring Limited for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Northern Star Flooring Limited , as a body, in accordance with the terms of our engagement letter dated 27 March 2025. Our work has been undertaken solely to prepare for your approval the accounts of Northern Star Flooring Limited and state those matters that we have agreed to state to the Board of Directors of Northern Star Flooring Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Northern Star Flooring Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Northern Star Flooring Limited 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 of Northern Star Flooring Limited . You consider that Northern Star Flooring Limited 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 Northern Star Flooring 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 accounts
30 June 2024



....................................................
Kendall Accountancy Services Limited
2 Exeter Street
Cottingham
Hull
East Yorkshire
HU16 4LU
27 March 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 3,152,051    2,209,592 
Cost of sales (2,152,988)   (1,510,306)
Gross profit 999,063    699,286 
Administrative expenses (653,504)   (421,613)
Other operating income   4,585 
Operating profit 345,559    282,258 
Interest payable and similar charges (25,658)   (23,979)
Profit/(Loss) on ordinary activities before taxation 319,901    258,279 
Tax on profit on ordinary activities (70,372)   (66,035)
Profit/(Loss) for the financial year 249,529    192,244 
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 2,000    10,000 
Tangible fixed assets 4 136,532    131,076 
138,532    141,076 
Current assets      
Stocks 5 367,000    85,318 
Debtors 6 289,466    271,805 
Cash at bank and in hand 14,428    162,404 
670,894    519,527 
Creditors: amount falling due within one year 7 (644,625)   (463,031)
Net current assets 26,269    56,496 
 
Total assets less current liabilities 164,801    197,572 
Creditors: amount falling due after more than one year 8 (125,043)   (141,894)
Provisions for liabilities 9 (25,990)   (24,905)
Net assets 13,768    30,773 
 

Capital and reserves
     
Called up share capital 10 403    403 
Share premium account 11 12,475    12,475 
Profit and loss account 890    17,895 
Shareholders' funds 13,768    30,773 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 March 2025 and were signed on its behalf by:


-------------------------------
Benjamin Brooker
Director
5
  Equity share capital   Preference share premium   Retained Earnings   Total
£ £ £ £
At 01 July 2022 400  12,475  45,922  58,797 
Profit for the year 192,244  192,244 
Total comprehensive income for the year 192,244  192,244 
Dividends (220,271) (220,271)
Shares issued 3 
Total investments by and distributions to owners 3  (220,271) (220,268)
At 30 June 2023 403  12,475  17,895  30,773 
At 01 July 2023 403  12,475  17,895  30,773 
Profit for the year 249,529  249,529 
Total comprehensive income for the year 249,529  249,529 
Dividends (266,534) (266,534)
Total investments by and distributions to owners (266,534) (266,534)
At 30 June 2024 403  12,475  890  13,768 
6
General Information
Northern Star Flooring Limited is a private company, limited by shares, registered in , registration number 06997128, registration address Unit 7a, Tokenspire Business Park, Woodmansey, EAST YORKSHIRE, HU17 0TB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Preference shares
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the statement of financial position rather than as part of the company's issued share capital.
2.

Average number of employees

Average number of employees during the year was 10 (2023 : 8).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 July 2023 40,000    40,000 
Additions  
Disposals  
At 30 June 2024 40,000    40,000 
Amortisation
At 01 July 2023 30,000    30,000 
Charge for year 8,000    8,000 
On disposals  
At 30 June 2024 38,000    38,000 
Net book values
At 30 June 2024 2,000    2,000 
At 30 June 2023 10,000    10,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 July 2023 103,140    112,891    61,429    7,896    285,356 
Additions 2,312    69,624    4,227      76,163 
Disposals   (19,945)       (19,945)
At 30 June 2024 105,452    162,570    65,656    7,896    341,574 
Depreciation
At 01 July 2023 59,569    45,435    42,824    6,452    154,280 
Charge for year 21,932    31,237    4,642    323    58,134 
On disposals   (7,372)       (7,372)
At 30 June 2024 81,501    69,300    47,466    6,775    205,042 
Net book values
Closing balance as at 30 June 2024 23,951    93,270    18,190    1,121    136,532 
Opening balance as at 01 July 2023 43,571    67,456    18,605    1,444    131,076 


5.

Stocks

2024
£
  2023
£
Work in Progress 330,000   
Stocks 37,000    85,318 
367,000    85,318 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 275,428    269,681 
Other Debtors 14,038    2,124 
289,466    271,805 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 461,433    281,597 
Bank Loans & Overdrafts 34,686    30,794 
Corporation Tax 80,559    66,772 
PAYE & Social Security 27,089    24,834 
Other Creditors 2,503   
Obligations under HP/Financial Leases 13,809    18,655 
Directors' Current Accounts   132 
VAT 24,546    40,247 
644,625    463,031 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 99,027    133,712 
Obligations Under HP/Financial Leases 26,016    8,182 
125,043    141,894 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 24,905    25,438 
Charged to Profit & Loss 1,085    (533)
25,990    24,905 

10.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
400 Class A shares of £1.00 each 400    400 
4 Class B shares of £1.00 each  
404    404 

11.

Share premium account

2024
£
  2023
£
Preference Share Premium b/fwd 12,475    12,475 
12,475    12,475 

7