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Registered number: 11071150 (England and Wales)














ALBION NORD LIMITED
UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
ALBION NORD LIMITED
 
 
COMPANY INFORMATION


Directors
C C F Clarke 
B R Johnson 
A N Kooperman 
O S L Stride 




Registered number
11071150



Registered office
First Floor
2 Percy Street

London

England

W1T 1DD




Accountants
ZEDRA Corporate Reporting Services (UK) Limited





 
ALBION NORD LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 9


 
ALBION NORD LIMITED
REGISTERED NUMBER:11071150

BALANCE SHEET
AS AT 30 NOVEMBER 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 3 
48,790
48,009

  
48,790
48,009

Current assets
  

Stocks
 4 
58,554
78,320

Debtors: amounts falling due within one year
 5 
344,049
506,586

Bank and cash balances
  
383,378
755,967

  
785,981
1,340,873

Creditors: amounts falling due within one year
 6 
(1,220,185)
(1,349,569)

Net current liabilities
  
 
 
(434,204)
 
 
(8,696)

Total assets less current liabilities
  
(385,414)
39,313

  

Net (liabilities)/assets
  
(385,414)
39,313

Page 1

 
ALBION NORD LIMITED
REGISTERED NUMBER:11071150
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

As restated
2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(385,514)
39,213

  
(385,414)
39,313


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

A N Kooperman
Director

Date: 7 May 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
ALBION NORD LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 December 2022
100
309,283
309,383



Profit for the year
-
29,930
29,930

Dividends: Equity capital
-
(300,000)
(300,000)



At 1 December 2023
100
39,213
39,313



Loss for the year
-
(424,727)
(424,727)


At 30 November 2024
100
(385,514)
(385,414)


Page 3

 
ALBION NORD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

Going concern

The Company is in a net liability position of £385,414 due to the increase in other taxation and social security liabilities and a decrease in cash at bank. The directors have considered this position and the anticipated forecasted cashflows. The directors believe the Company has sufficient working capital requirements to continue operating for a minimum of 12 months from the date of approval of these financial statements. For this reason, the directors continue to adopt the going concern basis. 

 
1.3

Turnover

Turnover is recognised to the extent that it is probable that economic future benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover generated from interior design fees are recognised at the point of delivery to the client. Turnover generated from procurement fees are recognised at the point at which all items have been procured. Turnover is recognised when all of the following conditions are satisfied:
 
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the intercompany service agreement;
the costs incurred under the intercompany service agreement can be measured reliably.

Page 4

 
ALBION NORD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.Accounting policies (continued)

 
1.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
1.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
1.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
1.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
ALBION NORD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.Accounting policies (continued)


1.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line basis and the reducing balance basis..

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Office equipment
-
33%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
1.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

  
1.12

Creditors

Short term creditors are measured at the transaction price. These loans are unsecured, interest free and repayable on demand.

 
1.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
ALBION NORD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 18).


3.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2023
30,012
4,278
63,764
98,054


Additions
12,031
5,811
2,957
20,799



At 30 November 2024

42,043
10,089
66,721
118,853



Depreciation


At 1 December 2023
13,806
2,078
34,161
50,045


Charge for the year on owned assets
6,207
2,850
10,961
20,018



At 30 November 2024

20,013
4,928
45,122
70,063



Net book value



At 30 November 2024
22,030
5,161
21,599
48,790



At 30 November 2023
16,206
2,200
29,603
48,009

Page 7

 
ALBION NORD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Stocks

2024
2023
£
£

Finished goods and goods for resale
58,554
78,320

58,554
78,320



5.


Debtors

2024
2023
£
£


Trade debtors
150,758
329,330

Other debtors
32,142
129,127

Prepayments and accrued income
75,642
48,129

Deferred taxation
85,507
-

344,049
506,586


Included within other debtors due within one year is a loan to a director, amounting to £7,397 (2023 - £NIL). Amounts repaid during the year totalled £NIL.  The amounts are interest free. 


6.


Creditors: Amounts falling due within one year

As restated
2024
2023
£
£

Bank overdrafts
9
17

Other loans
45,495
-

Trade creditors
159,341
54,576

Corporation tax
-
99,191

Other taxation and social security
473,194
276,237

Other creditors
433,330
788,497

Accruals and deferred income
108,816
131,051

1,220,185
1,349,569


Included within other creditors is dividends payable totalling £102,990 (2023: £102,990) which were declared in 2023 but remain unpaid as at the balance sheet date. 
£605,559 has been reclassified from creditors falling due after more than one year to creditors falling due within one year in the comparatives to better reflect the nature of this balance. 

Page 8

 
ALBION NORD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.


Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved.

 
Page 9