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REGISTERED NUMBER: SC275179 (Scotland)















Northern Isle Ltd

Financial Statements For The Year Ended 30 November 2024






Northern Isle Ltd (Registered number: SC275179)






Contents of the Financial Statements
For The Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Northern Isle Ltd

Company Information
For The Year Ended 30 November 2024







DIRECTORS: J Drever
Mrs K Drever



REGISTERED OFFICE: Dunira
Maitland Place
Finstown
Orkney
KW17 2EQ



REGISTERED NUMBER: SC275179 (Scotland)



ACCOUNTANTS: The Long Partnership
Chartered Accountants
Chartered Tax Advisers
1 Castle Street
Kirkwall
Orkney
KW15 1HD



BANKERS: The Royal Bank of Scotland
1 Victoria Street
Kirkwall
Orkney
KW15 1DP

Northern Isle Ltd (Registered number: SC275179)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 135,814 155,031
Investment property 5 139,285 139,285
275,099 294,316

CURRENT ASSETS
Stocks 255 1,295
Debtors 6 11,381 28,479
Cash at bank 139,205 78,670
150,841 108,444
CREDITORS
Amounts falling due within one year 7 18,838 9,531
NET CURRENT ASSETS 132,003 98,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

407,102

393,229

PROVISIONS FOR LIABILITIES 14,595 10,071
NET ASSETS 392,507 383,158

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 391,507 382,158
SHAREHOLDERS' FUNDS 392,507 383,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Northern Isle Ltd (Registered number: SC275179)

Balance Sheet - continued
30 November 2024


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 Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:





J Drever - Director


Northern Isle Ltd (Registered number: SC275179)

Notes to the Financial Statements
For The Year Ended 30 November 2024

1. STATUTORY INFORMATION

Northern Isle Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance and 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

Northern Isle Ltd (Registered number: SC275179)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 December 2023 298,055
Additions 1,224
Disposals (2,500 )
At 30 November 2024 296,779
DEPRECIATION
At 1 December 2023 143,024
Charge for year 19,374
Eliminated on disposal (1,433 )
At 30 November 2024 160,965
NET BOOK VALUE
At 30 November 2024 135,814
At 30 November 2023 155,031

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 139,285
NET BOOK VALUE
At 30 November 2024 139,285
At 30 November 2023 139,285

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 1,145 26,098
Other debtors 10,236 2,381
11,381 28,479

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 377 592
Trade creditors 12,943 3,715
Taxation and social security 1,301 163
Other creditors 4,217 5,061
18,838 9,531

Northern Isle Ltd (Registered number: SC275179)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs K Drever.