Year Ended
Registration number:
Northman Nutrition Ltd
Balance Sheet
30 September 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 09613126
Northman Nutrition Ltd
Notes to the Financial Statements
Year Ended 30 September 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There are no material departures from FRS 102.
Basis of preparation
These financial statements have been prepared using the historical cost convention, modified to include certain items at fair value.
The functional currency is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates in.
Going concern
The directors are satisfied that the company has adequate resources available to discharge its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements and the company therefore continues to adopt the going concern basis in preparing its financial statements.
In making their assessment, the directors have fully considered the impact of the current economic environment and its potential impact on cash flow and working capital requirements.
Revenue recognition
Revenue is recognised when the risks and rewards associated with the company's products are transferred to the customer, which is either on despatch or delivery, depending on the inco terms agreed with each customer.
Northman Nutrition Ltd
Notes to the Financial Statements
Year Ended 30 September 2024
Foreign currency transactions and balances
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation 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 taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Intangible assets
Goodwill represents the excess of the cost of acquisition of unincorporated business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 6 years.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Northman Nutrition Ltd
Notes to the Financial Statements
Year Ended 30 September 2024
Asset class |
Depreciation method and rate |
Land and buildings |
33% straight line |
Furniture, fittings and equipment |
33% straight line |
Plant and machinery |
33% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Northman Nutrition Ltd
Notes to the Financial Statements
Year Ended 30 September 2024
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 October 2023 (unaudited) |
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At 30 September 2024 |
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Amortisation |
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At 1 October 2023 (unaudited) |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
- |
- |
At 30 September 2023 (unaudited) |
- |
- |
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 October 2023 (unaudited) |
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Additions |
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Disposals |
- |
( |
- |
( |
At 30 September 2024 |
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Depreciation |
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At 1 October 2023 (unaudited) |
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Charge for the year |
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Eliminated on disposal |
- |
( |
- |
( |
At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 (unaudited) |
- |
- |
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Northman Nutrition Ltd
Notes to the Financial Statements
Year Ended 30 September 2024
Stocks |
2024 |
2023 |
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Raw materials and consumables |
97,725 |
171,838 |
Finished goods and goods for resale |
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- |
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Debtors |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Creditors |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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- |
Taxation and social security |
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Accruals and deferred income |
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- |
Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Northman Nutrition Ltd
Notes to the Financial Statements
Year Ended 30 September 2024
Parent and ultimate parent undertaking |
The company's immediate and ultimate parent is
The parent of the group in which these financial statements are consolidated is Rain Nutrience Holding Limited, incorporated in England and Wales. These financial statements are available upon request from Companies House.
Audit report |