REGISTERED NUMBER: |
North Street (Gainsborough) Limited |
Financial Statements for the Year Ended 30th September 2024 |
REGISTERED NUMBER: |
North Street (Gainsborough) Limited |
Financial Statements for the Year Ended 30th September 2024 |
North Street (Gainsborough) Limited (Registered number: 10469846) |
Contents of the Financial Statements |
for the year ended 30th September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
North Street (Gainsborough) Limited |
Company Information |
for the year ended 30th September 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
North Street (Gainsborough) Limited (Registered number: 10469846) |
Balance Sheet |
30th September 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | 7 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
North Street (Gainsborough) Limited (Registered number: 10469846) |
Notes to the Financial Statements |
for the year ended 30th September 2024 |
1. | STATUTORY INFORMATION |
North Street (Gainsborough) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with applicable accounting standards including 'Section 1A "Small Entities" of Financial Reporting Standard 102 the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policies adopted for the recognition of turnover are as follows: |
Turnover from the rental of premises and related service charges are accounted for on a straight line basis over the lease term. The company treats any general incentive for lessees to enter into a lease agreement as a revenue cost and accounts for rental income from the lease commencement date. The cost of all lease incentives is therefore offset against the total rent due. |
Tax |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. In addition deferred tax is only recognised on accelerated capital allowances on plant in Investment properties where the difference in tax treatment is not considered to be permanent in view of the available tax elections on disposal. |
Deferred tax is measured using the tax rates and laws, that have been enacted or substantively enacted by the balance sheet date, that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in other administrative expenses. |
Finance charges |
Finance charges incurred relating directly to the construction of tangible fixed assets are capitalised as part of that asset cost. Capitalisation is limited to the period during which the development is ongoing. |
North Street (Gainsborough) Limited (Registered number: 10469846) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
7. | RESERVES |
Retained |
earnings |
£ |
At 1st October 2023 |
Profit for the year |
Dividends | ( |
) |
At 30th September 2024 |
Retained earnings |
Retained earnings represents cumulative profits and losses net of dividends and other adjustments. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
North Street (Gainsborough) Limited (Registered number: 10469846) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2024 |
10. | CONTROL RELATIONSHIPS |
The company is controlled by Mark Dransfield. |
Ultimate parent company |
The company's parent company is Dransfield Properties Limited. The registered office of this company is the same as can be found on page 1 of these financial statements. |
The company's ultimate parent company is Dransfield Properties Investments Limited. The registered office of this company is the same as can be found on page 1 of these financial statements. |
The smallest group in which the results of the company are consolidated is that headed by Dransfield Properties Limited, and the largest group that headed by Dransfield Properties Investments Limited. The consolidated financial statements of both groups are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ. |