Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.422023-10-01falseNo description of principal activity51truetruefalse 07000478 2023-10-01 2024-09-30 07000478 2022-10-01 2023-09-30 07000478 2024-09-30 07000478 2023-09-30 07000478 c:Director1 2023-10-01 2024-09-30 07000478 d:Buildings d:LongLeaseholdAssets 2023-10-01 2024-09-30 07000478 d:Buildings d:LongLeaseholdAssets 2024-09-30 07000478 d:Buildings d:LongLeaseholdAssets 2023-09-30 07000478 d:PlantMachinery 2023-10-01 2024-09-30 07000478 d:PlantMachinery 2024-09-30 07000478 d:PlantMachinery 2023-09-30 07000478 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07000478 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07000478 d:PatentsTrademarksLicencesConcessionsSimilar 2023-10-01 2024-09-30 07000478 d:ComputerSoftware 2024-09-30 07000478 d:ComputerSoftware 2023-09-30 07000478 d:CurrentFinancialInstruments 2024-09-30 07000478 d:CurrentFinancialInstruments 2023-09-30 07000478 d:Non-currentFinancialInstruments 2024-09-30 07000478 d:Non-currentFinancialInstruments 2023-09-30 07000478 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 07000478 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 07000478 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 07000478 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 07000478 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 07000478 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 07000478 d:ShareCapital 2024-09-30 07000478 d:ShareCapital 2023-09-30 07000478 d:RetainedEarningsAccumulatedLosses 2024-09-30 07000478 d:RetainedEarningsAccumulatedLosses 2023-09-30 07000478 c:FRS102 2023-10-01 2024-09-30 07000478 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 07000478 c:FullAccounts 2023-10-01 2024-09-30 07000478 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07000478 d:ComputerSoftware d:InternallyGeneratedIntangibleAssets 2023-10-01 2024-09-30 07000478 2 2023-10-01 2024-09-30 07000478 d:ComputerSoftware d:OwnedIntangibleAssets 2023-10-01 2024-09-30 07000478 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 07000478










NORTHUMBERLAND EVENTS LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
NORTHUMBERLAND EVENTS LTD
REGISTERED NUMBER: 07000478

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
15,421
-

Tangible fixed assets
 5 
212,456
166,271

  
227,877
166,271

Current assets
  

Stocks
 6 
69,120
66,349

Debtors: amounts falling due after more than one year
 7 
-
49,000

Debtors: amounts falling due within one year
 7 
1,189,211
1,434,347

Cash at bank and in hand
 8 
2,782,724
2,474,542

  
4,041,055
4,024,238

Creditors: amounts falling due within one year
 9 
(4,204,419)
(3,855,622)

Net current (liabilities)/assets
  
 
 
(163,364)
 
 
168,616

Total assets less current liabilities
  
64,513
334,887

Creditors: amounts falling due after more than one year
 10 
(112,000)
(549,000)

  

Net liabilities
  
(47,487)
(214,113)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(47,488)
(214,114)

  
(47,487)
(214,113)

Page 1

 
NORTHUMBERLAND EVENTS LTD
REGISTERED NUMBER: 07000478
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C H Boyd
Director

Date: 4 April 2025

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
NORTHUMBERLAND EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Northumberland Events Ltd is a private company, limited by shares, domiciled in England and Wales, registration number 06863635. The registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net current liabilities of £163,364 (2023: £168,616 current assets) and total net liabilities of £47,487 (2023: £214,113) at the balance sheet date. The shareholder has committed to providing financial support to the company for a period of at least 12 months from the date of the approval of the Financial Statements. The directors has therefore prepared the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
NORTHUMBERLAND EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Brand and website development
-
5
years

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
NORTHUMBERLAND EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
Over the period of the lease
Office equipment
-
33%
per annum on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.14

Creditors

Short-term creditors are measured at the 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.

Page 5

 
NORTHUMBERLAND EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 6

 
NORTHUMBERLAND EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 51 (2023 - 42).


4.


Intangible assets




Brand and website development

£



Cost


Additions
15,682



At 30 September 2024

15,682



Amortisation


Charge for the year 
261



At 30 September 2024

261



Net book value



At 30 September 2024
15,421



At 30 September 2023
-



Page 7

 
NORTHUMBERLAND EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Leasehold improvements
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
718,986
821,568
1,540,554


Additions
62,612
104,494
167,106


Disposals
-
(216,363)
(216,363)



At 30 September 2024

781,598
709,699
1,491,297



Depreciation


At 1 October 2023
621,540
752,743
1,374,283


Charge for the year
81,736
87,151
168,887


Disposals
-
(264,329)
(264,329)



At 30 September 2024

703,276
575,565
1,278,841



Net book value



At 30 September 2024
78,322
134,134
212,456



At 30 September 2023
97,446
68,825
166,271


6.


Stocks

2024
2023
£
£

Catering, liquor and consumables
69,120
66,349


Page 8

 
NORTHUMBERLAND EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Debtors

2024
2023
£
£

Due after more than one year

Prepayments and accrued income
-
49,000


2024
2023
£
£

Due within one year

Trade debtors
85,923
71,552

Amounts owed by group undertakings
573,669
913,995

Other debtors
66,374
46,699

Prepayments and accrued income
463,245
402,101

1,189,211
1,434,347



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,782,724
2,474,542



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
112,000
242,000

Other loans
206,377
253,333

Trade creditors
343,525
322,080

Amounts owed to group undertakings
664,585
-

Corporation tax
72,970
146,078

Other taxation and social security
231,766
217,262

Other creditors
1,587,087
1,582,468

Accruals and deferred income
986,109
1,092,401

4,204,419
3,855,622


Page 9

 
NORTHUMBERLAND EVENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
112,000
549,000



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
112,000
242,000

Other loans
206,377
253,333

Amounts falling due 2-5 years

Bank loans
112,000
549,000

430,377
1,044,333



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £32,510 (2023: £20,472). Contributions totalling £7,268 (2023: £8,595) were payable to the fund at the reporting date and are included in creditors.


13.


Related party transactions

At 30 September 2024, the company was owed £573,669 (2023: £668,247) from Hamilton Boyd Ltd, the parent company and a company of which the directors, C H Boyd and A Brain, are directors. The loan is interest free, unsecured and repayable on demand.
At 30 September 2024, the company owed £664,585 (2023: £227,748 owed from) to Opal Fusion Limited, a fellow subsidiary of parent company and a company of which the directors, C H Boyd and A Brain, are directors. The loan is interest free, unsecured and repayable on demand.


14.


Parent undertaking

The company's parent entity is Hamilton Boyd Limited and the company's registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU. The principal place of business is 8 Northumberland Avenue, London, WC2N 5BY.
 
Page 10