Norseman Group Limited 13152467 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is Management Consultancy Digita Accounts Production Advanced 6.30.9574.0 true true 13152467 2024-02-01 2025-01-31 13152467 2025-01-31 13152467 core:CurrentFinancialInstruments 2025-01-31 13152467 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 13152467 core:FurnitureFittingsToolsEquipment 2025-01-31 13152467 bus:SmallEntities 2024-02-01 2025-01-31 13152467 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 13152467 bus:FilletedAccounts 2024-02-01 2025-01-31 13152467 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 13152467 bus:RegisteredOffice 2024-02-01 2025-01-31 13152467 bus:Director1 2024-02-01 2025-01-31 13152467 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 13152467 core:ComputerEquipment 2024-02-01 2025-01-31 13152467 core:FurnitureFittings 2024-02-01 2025-01-31 13152467 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 13152467 countries:UnitedKingdom 2024-02-01 2025-01-31 13152467 2024-01-31 13152467 core:FurnitureFittingsToolsEquipment 2024-01-31 13152467 2023-02-01 2024-01-31 13152467 2024-01-31 13152467 core:CurrentFinancialInstruments 2024-01-31 13152467 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13152467 core:FurnitureFittingsToolsEquipment 2024-01-31 iso4217:GBP xbrli:pure

Registration number: 13152467

Norseman Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Norseman Group Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Norseman Group Limited

(Registration number: 13152467)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

2,674

4,558

Current assets

 

Debtors

6

57,699

40,392

Cash at bank and in hand

 

7,969

7,687

 

65,668

48,079

Creditors: Amounts falling due within one year

7

(29,754)

(36,932)

Net current assets

 

35,914

11,147

Total assets less current liabilities

 

38,588

15,705

Provisions for liabilities

(508)

(866)

Net assets

 

38,080

14,839

Capital and reserves

 

Called up share capital

20

20

Retained earnings

38,060

14,819

Shareholders' funds

 

38,080

14,839

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 April 2025 and signed on its behalf by:
 

 

Norseman Group Limited

(Registration number: 13152467)
Balance Sheet as at 31 January 2025

Mr M S Norman
Director

   
     
 

Norseman Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Willows
Lynn Road
Walton Highway
Wisbech
PE14 7DF

These financial statements were authorised for issue by the Board on 26 April 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Norseman Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tax

The tax expense for the period comprises current and deferred 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 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Fixtures and fittings

33% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Norseman Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

3,950

3,877

 

Norseman Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2024

11,632

11,632

Additions

2,066

2,066

Disposals

(750)

(750)

At 31 January 2025

12,948

12,948

Depreciation

At 1 February 2024

7,074

7,074

Charge for the year

3,950

3,950

Eliminated on disposal

(750)

(750)

At 31 January 2025

10,274

10,274

Carrying amount

At 31 January 2025

2,674

2,674

At 31 January 2024

4,558

4,558

6

Debtors

Current

2025
£

2024
£

Trade debtors

-

1,140

Prepayments

1,747

587

Other debtors

55,952

38,665

 

57,699

40,392

 

Norseman Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

2,244

9,136

Trade creditors

 

2,246

546

Taxation and social security

 

25,264

27,250

 

29,754

36,932

 

Norseman Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

2,244

9,136