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Northman Nutrition Ltd

Annual Report and Financial Statements
Year Ended 30 September 2024

Registration number: 09613126

 

Northman Nutrition Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Northman Nutrition Ltd

Balance Sheet

30 September 2024

Note

2024
£

2023
(unaudited)
£

Fixed assets

 

Tangible assets

5

38,476

1,765

Current assets

 

Stocks

6

99,601

171,838

Debtors

7

352,476

183,274

Cash at bank and in hand

 

38,731

65,729

 

490,808

420,841

Creditors: Amounts falling due within one year

8

(393,543)

(198,897)

Net current assets

 

97,265

221,944

Total assets less current liabilities

 

135,741

223,709

Provisions for liabilities

-

(335)

Net assets

 

135,741

223,374

Capital and reserves

 

Called up share capital

9

100

100

Profit and loss account

135,641

223,274

Shareholders' funds

 

135,741

223,374

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 Board on 14 April 2025 and signed on its behalf by:
 

.........................................
G Dunbar
Director

Company Registration Number: 09613126

 

Northman Nutrition Ltd

Notes to the Financial Statements

Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 21
Flightway Business Park
Dunkeswell
Honiton
England
EX14 4RD

These financial statements were authorised for issue by the Board on 14 April 2025.

2

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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Exchange differences are taken into account in arriving at the operating profit.

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
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

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.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 20).

 

Northman Nutrition Ltd

Notes to the Financial Statements

Year Ended 30 September 2024

4

Intangible assets

Goodwill
£

Total
£

Cost or valuation

At 1 October 2023 (unaudited)

59,995

59,995

At 30 September 2024

59,995

59,995

Amortisation

At 1 October 2023 (unaudited)

59,995

59,995

At 30 September 2024

59,995

59,995

Carrying amount

At 30 September 2024

-

-

At 30 September 2023 (unaudited)

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023 (unaudited)

8,020

12,828

156,101

176,949

Additions

2,862

28,894

14,576

46,332

Disposals

-

(6,839)

-

(6,839)

At 30 September 2024

10,882

34,883

170,677

216,442

Depreciation

At 1 October 2023 (unaudited)

8,020

12,828

154,336

175,184

Charge for the year

636

7,223

1,762

9,621

Eliminated on disposal

-

(6,839)

-

(6,839)

At 30 September 2024

8,656

13,212

156,098

177,966

Carrying amount

At 30 September 2024

2,226

21,671

14,579

38,476

At 30 September 2023 (unaudited)

-

-

1,765

1,765

 

Northman Nutrition Ltd

Notes to the Financial Statements

Year Ended 30 September 2024

6

Stocks

2024
£

2023
(unaudited)
£

Raw materials and consumables

97,725

171,838

Finished goods and goods for resale

1,876

-

99,601

171,838

7

Debtors

2024
£

2023
(unaudited)
£

Trade debtors

329,448

165,100

Prepayments

23,028

18,174

352,476

183,274

8

Creditors

2024
£

2023
(unaudited)
£

Due within one year

Trade creditors

98,282

105,401

Amounts owed to group undertakings

199,146

-

Taxation and social security

57,176

51,029

Accruals and deferred income

15,770

-

Other creditors

23,169

42,467

393,543

198,897

9

Share capital

Allotted, called up and fully paid shares

2024

2023
(unaudited)

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       
 

Northman Nutrition Ltd

Notes to the Financial Statements

Year Ended 30 September 2024

10

Parent and ultimate parent undertaking

The company's immediate and ultimate parent is Rain Nutrience Holding Limited, incorporated in England and Wales.
 

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.

11

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Robert Deare, who signed for and on behalf of PKF Francis Clark on 16 April 2025.