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REGISTERED NUMBER: 01572163 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

NORTHERN SERVICES LIMITED

NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTHERN SERVICES LIMITED

Company Information
for the Year Ended 31 July 2024







DIRECTOR: C P Marsh





REGISTERED OFFICE: 2 Hornes Lane
Staincross
Barnsley
South Yorkshire
S75 6LQ





REGISTERED NUMBER: 01572163 (England and Wales)





ACCOUNTANTS: S Burgess & Co Ltd
11 Slayleigh Avenue
Sheffield
South Yorkshire
S10 3RA

NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,937,984 4,939,818
Investments 5 1,091 991
4,939,075 4,940,809

CURRENT ASSETS
Debtors 6 19,284 11,684
Cash at bank 529,434 368,732
548,718 380,416
CREDITORS
Amounts falling due within one year 7 234,030 230,630
NET CURRENT ASSETS 314,688 149,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,253,763

5,090,595

CREDITORS
Amounts falling due after more than one
year

8

(1,218,711

)

(1,338,043

)

PROVISIONS FOR LIABILITIES 10 (59,053 ) (69,444 )
NET ASSETS 3,975,999 3,683,108

NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)

Balance Sheet - continued
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 12,015 12,015
Non-distributable reserve 12 1,456,057 1,485,855
Capital redemption reserve 12 38,015 38,015
Retained earnings 12 2,469,912 2,147,223
SHAREHOLDERS' FUNDS 3,975,999 3,683,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2025 and were signed by:





C P Marsh - Director


NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Northern Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 comprises the invoiced value of rental income from the company's investment property portfolio, excluding value added tax. Rental income is recognised in accordance with each underlying lease agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investment property
Investment properties for which fair value can be measured reliably without undue cost of effort are measured at fair value at each reporting date, with changes in fair value recognised in the statement of comprehensive income.

Debtors and creditors due within one year
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income within administrative expenses.

Impairment
At each balance sheet date, assets are reviewed to determine whether there is any indication that any of the individual assets have suffered an impairment. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the statement of comprehensive income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Investment and
properties fittings Totals
£    £    £   
COST OR VALUATION
At 1 August 2023 4,930,650 33,559 4,964,209
Additions 39,731 - 39,731
Disposals - (22,098 ) (22,098 )
Revaluations (39,731 ) - (39,731 )
At 31 July 2024 4,930,650 11,461 4,942,111
DEPRECIATION
At 1 August 2023 - 24,391 24,391
Charge for year - 1,834 1,834
Eliminated on disposal - (22,098 ) (22,098 )
At 31 July 2024 - 4,127 4,127
NET BOOK VALUE
At 31 July 2024 4,930,650 7,334 4,937,984
At 31 July 2023 4,930,650 9,168 4,939,818

NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 July 2024 is represented by:

Fixtures
Investment and
properties fittings Totals
£    £    £   
Valuation in 2022 1,513,277 - 1,513,277
Cost 3,417,373 11,461 3,428,834
4,930,650 11,461 4,942,111

Investment properties were valued on an open market basis in February 2022, by Sanderson Weatherall Chartered Surveyors and, in the case of land at Smithy Lane, by Bruton Knowles Chartered Surveyors. The director considers that these valuations represent the market value of the investment properties at the year end.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023 991
Additions 100
At 31 July 2024 1,091
NET BOOK VALUE
At 31 July 2024 1,091
At 31 July 2023 991

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 31 4,684
Amounts owed by group undertakings 19,253 7,000
19,284 11,684

NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 115,000 106,000
Trade creditors 509 344
Corporation tax 82,906 89,118
Social security and other taxes 409 752
VAT 14,493 14,991
Other creditors 15,950 15,425
Accruals & deferred income 4,763 4,000
234,030 230,630

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 1,218,711 1,338,043

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 1,333,711 1,444,043

The bank loans are secured by first legal charges over the specific investment properties of industrial unit, Shawfield Road, Barnsley; 1 Carr Green Lane, Barnsley; Shawfield 3 industrial units, Barnsley; land and buildings at Smithy Lane (south east of Hill End Road), Barnsley. The bank also hold an unlimited debenture.

10. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 59,053 69,444

Deferred
tax
£   
Balance at 1 August 2023 69,444
Provided during year (10,391 )
Balance at 31 July 2024 59,053

NORTHERN SERVICES LIMITED (REGISTERED NUMBER: 01572163)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
12,015 Ordinary £1 12,015 12,015

12. RESERVES
Capital
Retained Non-distributable redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 August 2023 2,147,223 1,485,855 38,015 3,671,093
Profit for the year 349,435 349,435
Dividends (56,544 ) (56,544 )
Re-classification 29,798 (29,798 ) - -
At 31 July 2024 2,469,912 1,456,057 38,015 3,963,984