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REGISTERED NUMBER: 02150498 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

NORTHFIELD MANAGEMENT SERVICES LIMITED

NORTHFIELD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 02150498)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTHFIELD MANAGEMENT SERVICES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: P V Cooper





REGISTERED OFFICE: Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7TL





REGISTERED NUMBER: 02150498 (England and Wales)






NORTHFIELD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 02150498)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,622 16,514

CURRENT ASSETS
Debtors 5 87,595 90,678
Cash at bank 47,774 40,595
135,369 131,273
CREDITORS
Amounts falling due within one year 6 121,400 109,440
NET CURRENT ASSETS 13,969 21,833
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,591

38,347

CREDITORS
Amounts falling due after more than one
year

7

13,253

28,438
NET ASSETS 11,338 9,909

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 11,238 9,809
SHAREHOLDERS' FUNDS 11,338 9,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

NORTHFIELD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 02150498)

BALANCE SHEET - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2025 and were signed by:





P V Cooper - Director


NORTHFIELD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 02150498)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Northfield Management Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the accounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of the estimation means that that the actual outcomes could differ from those estimates.

Turnover
Turnover represents the value of goods and services supplied during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

NORTHFIELD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 02150498)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 and creditors, loans from banks and other third parties, loans to related parties and investments in non-portable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand and other short-term 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.

Creditors
Basic short-term financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

NORTHFIELD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 02150498)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Office
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 51,017 14,960 46,154 27,990 140,121
DEPRECIATION
At 1 April 2023 51,017 14,600 32,453 25,537 123,607
Charge for year - 91 3,495 2,306 5,892
At 31 March 2024 51,017 14,691 35,948 27,843 129,499
NET BOOK VALUE
At 31 March 2024 - 269 10,206 147 10,622
At 31 March 2023 - 360 13,701 2,453 16,514

NORTHFIELD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 02150498)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 29,810
DEPRECIATION
At 1 April 2023 17,234
Charge for year 3,144
At 31 March 2024 20,378
NET BOOK VALUE
At 31 March 2024 9,432
At 31 March 2023 12,576

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 58,369 64,118
Amount recoverable on contract 27,224 24,558
Other debtors 153 153
Prepayments and accrued income 1,849 1,849
87,595 90,678

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,042 17,952
Bounce back loan 10,000 9,800
Hire purchase contracts 5,050 5,743
Trade creditors 7,267 1,000
Corporation tax 26,469 24,525
Social security and other taxes 19,316 15,169
VAT 29,626 31,298
Other creditors 4,605 1,032
Directors' current accounts 399 2,156
Accrued expenses 626 765
121,400 109,440

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bounce back loan 13,253 23,384
Hire purchase contracts - 5,054
13,253 28,438

NORTHFIELD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 02150498)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 5,050 10,797

The hire purchase liability is secured on the asset concerned.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100