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REGISTERED NUMBER: 04635154 (England and Wales)














Report of the Directors and

Financial Statements

for the Year Ended 31st December 2024

for

Northern Balance Ltd

Northern Balance Ltd (Registered number: 04635154)






Contents of the Financial Statements
for the year ended 31st December 2024




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


Northern Balance Ltd

Company Information
for the year ended 31st December 2024







DIRECTORS: N. A. Bewell
J. J. R. Chapman
I. A. Roulstone
P. J. Moran



REGISTERED OFFICE: 3 Bamburgh Court
Team Valley Trading Estate
Gateshead
NE11 0TX



REGISTERED NUMBER: 04635154 (England and Wales)



AUDITORS: Sadofskys
Statutory Auditors
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Natwest Bank
1 Victoria Place
Holbeck
Leeds
LS11 5AN

Northern Balance Ltd (Registered number: 04635154)

Report of the Directors
for the year ended 31st December 2024

The directors present their report with the financial statements of the company for the year ended 31st December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of supplying and repairing balance instruments.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1st January 2024 to the date of this report.

The directors shown below were in office at 31st December 2024 but did not hold any interest in the Ordinary shares of £1 each at 1st January 2024 or 31st December 2024.

N. A. Bewell
J. J. R. Chapman
I. A. Roulstone
P. J. Moran

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Sadofskys, will be proposed for re-appointment at the forthcoming Annual General Meeting.


Northern Balance Ltd (Registered number: 04635154)

Report of the Directors
for the year ended 31st December 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





N. A. Bewell - Director


28th March 2025

Report of the Independent Auditors to the Members of
Northern Balance Ltd

Opinion
We have audited the financial statements of Northern Balance Ltd (the 'company') for the year ended 31st December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st December 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Northern Balance Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Northern Balance Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the repairs to electronic and optical equipment sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, UK taxation legislation, and data protection, anti-bribery, employment, environmental, and health and safety legislation, along with industry specific regulations and requirements;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Northern Balance Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Alan Brocklehurst (Senior Statutory Auditor)
for and on behalf of Sadofskys
Statutory Auditors
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX

28th March 2025

Northern Balance Ltd (Registered number: 04635154)

Income Statement
for the year ended 31st December 2024

2024 2023
Notes £    £   

TURNOVER 2,433,664 2,260,074

Cost of sales 853,650 735,484
GROSS PROFIT 1,580,014 1,524,590

Administrative expenses 1,553,173 1,435,160
26,841 89,430

Other operating income 1,543 (64,955 )
OPERATING PROFIT 4 28,384 24,475

Interest receivable and similar income 880 -
29,264 24,475

Interest payable and similar expenses 13,265 -
PROFIT BEFORE TAXATION 15,999 24,475

Tax on profit 5 28,901 16,530
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(12,902

)

7,945

Northern Balance Ltd (Registered number: 04635154)

Balance Sheet
31st December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 6 127,955 143,950
Tangible assets 7 407,739 116,705
535,694 260,655

CURRENT ASSETS
Stocks 92,310 120,727
Debtors 8 716,415 844,259
Cash at bank 346,200 249,213
1,154,925 1,214,199
CREDITORS
Amounts falling due within one year 9 671,070 655,015
NET CURRENT ASSETS 483,855 559,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,019,549

819,839

CREDITORS
Amounts falling due after more than one
year

10

(183,711

)

-

PROVISIONS FOR LIABILITIES (58,077 ) (29,176 )
NET ASSETS 777,761 790,663

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 777,661 790,563
SHAREHOLDERS' FUNDS 777,761 790,663

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

The financial statements were approved by the Board of Directors and authorised for issue on 28th March 2025 and were signed on its behalf by:





N. A. Bewell - Director


Northern Balance Ltd (Registered number: 04635154)

Statement of Changes in Equity
for the year ended 31st December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st January 2023 100 782,618 782,718

Changes in equity
Total comprehensive income - 7,945 7,945
Balance at 31st December 2023 100 790,563 790,663

Changes in equity
Total comprehensive income - (12,902 ) (12,902 )
Balance at 31st December 2024 100 777,661 777,761

Northern Balance Ltd (Registered number: 04635154)

Notes to the Financial Statements
for the year ended 31st December 2024

1. STATUTORY INFORMATION

Northern Balance Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life;

Plant and machinery etc - 20% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, and assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Northern Balance Ltd (Registered number: 04635154)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial statements.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

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 deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

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 Balance Ltd (Registered number: 04635154)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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.

Government grants
Government grants are recognised using the accruals model. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. Grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the assets to which they relate.

A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the company with no future related costs, is credited to income in the period in which it becomes receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 38,015 33,119
Depreciation - assets on hire purchase contracts 56,404 -
Loss/(profit) on disposal of fixed assets 2,410 (1,128 )
Goodwill amortisation 15,995 15,995
Auditors' remuneration 2,450 2,250

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - 9,835

Deferred taxation 28,901 6,695
Tax on profit 28,901 16,530

Northern Balance Ltd (Registered number: 04635154)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

6. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2024
and 31st December 2024 159,945
AMORTISATION
At 1st January 2024 15,995
Charge for year 15,995
At 31st December 2024 31,990
NET BOOK VALUE
At 31st December 2024 127,955
At 31st December 2023 143,950

7. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2024 259,702
Additions 413,863
Disposals (31,000 )
At 31st December 2024 642,565
DEPRECIATION
At 1st January 2024 142,997
Charge for year 94,419
Eliminated on disposal (2,590 )
At 31st December 2024 234,826
NET BOOK VALUE
At 31st December 2024 407,739
At 31st December 2023 116,705

The net book value of tangible fixed assets includes £ 284,119 in respect of assets held under hire purchase contracts.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 270,682 407,568
Amounts owed by group undertakings 386,750 386,750
Other debtors - 1,000
Taxation 14,000 6,415
Prepayments 44,983 42,526
716,415 844,259

Northern Balance Ltd (Registered number: 04635154)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 11) 75,720 -
Trade creditors 152,329 192,071
Amounts owed to group undertakings 301,285 301,285
Social security and other taxes 67,902 91,866
Other creditors 3,480 3,233
Accrued expenses 70,354 66,560
671,070 655,015

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 11) 183,711 -

11. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 75,720 -
Between one and five years 183,711 -
259,431 -

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

13. ULTIMATE PARENT AND CONTROLLING PARTY

The ultimate controlling party is LBO France, a company registered in France (RCS Strasbourg Reg. No. 418354502). The immediate parent company is Gem Scientific 2014 Limited, a company registered in England and Wales (Reg. No. 09304255).

The parent of the largest group for which consolidated financial statements are drawn up is Dutscher Holding. Copies of the consolidated accounts can be obtained from 2C, Rue De Bruxelles, 67170, Bernolsheim, France..

The parent of the smallest group for which consolidated financial statements are drawn up is Scientific Laboratory Supplies Group Limited, whose registered office address is Orchard House, The Square, Hessle, United Kingdom, HU13 0AE.

Dutscher Holding SAS (incorporated in France) is regarded by the directors as being the company's ultimate parent company (RCS Strasbourg Reg. No. 882634660).