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Registration number: 12478486

Northstar Residential Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Northstar Residential Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Northstar Residential Limited

Company Information

Directors

Mr Eugenios Eugenio

Mr Mark Stephen Burke

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd 590 Green Lanes
Palmers Green
London
N13 5RY

 

Northstar Residential Limited

(Registration number: 12478486)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

1,858

587

Current assets

 

Debtors

5

645

166

Cash at bank and in hand

 

39,837

32,135

 

40,482

32,301

Creditors: Amounts falling due within one year

6

(9,143)

(6,272)

Net current assets

 

31,339

26,029

Net assets

 

33,197

26,616

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

33,097

26,516

Shareholders' funds

 

33,197

26,616

For the financial year ending 28 February 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 and 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 8 May 2025 and signed on its behalf by:
 

.........................................
Mr Eugenios Eugenio
Director

 

Northstar Residential Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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:
590 Green Lanes
Palmers Green
London
N13 5RY

These financial statements were authorised for issue by the Board on 8 May 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, unless otherwise stated.

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.

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.

Tax

The tax expense for the period comprises current 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.

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.

 

Northstar Residential Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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

Office Equipment

15% @ Cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Northstar Residential Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

3

Staff numbers

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2024

691

691

Additions

1,618

1,618

At 28 February 2025

2,309

2,309

Depreciation

At 1 March 2024

104

104

Charge for the year

347

347

At 28 February 2025

451

451

Carrying amount

At 28 February 2025

1,858

1,858

At 29 February 2024

587

587

 

Northstar Residential Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

5

Debtors

2025
£

2024
£

Trade debtors

180

-

Prepayments

465

166

645

166

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

2,445

1,428

Taxation and social security

646

-

Accruals and deferred income

984

1,176

Directors loan account

3,568

2,168

Other creditors

1,500

1,500

9,143

6,272

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100

       

8

Related party transactions

Summary of transactions with other related parties


Included in creditors due within one year is an amount of £3,568 (2024: £2,168) owed to the directors of the company.