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REGISTERED NUMBER: SC220343 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

NORTHCOTE SERVICES LIMITED

NORTHCOTE SERVICES LIMITED (REGISTERED NUMBER: SC220343)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 8

NORTHCOTE SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2024







DIRECTOR: Mr G Thomson





SECRETARY: LC Secretaries Limited





REGISTERED OFFICE: Johnstone House
52-54 Rose Street
Aberdeen
AB101HA





REGISTERED NUMBER: SC220343 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS

NORTHCOTE SERVICES LIMITED (REGISTERED NUMBER: SC220343)

BALANCE SHEET
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 27,155 10,787

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 6 406,866 355,596
Cash at bank 35,548 11
444,414 357,607
CREDITORS
Amounts falling due within one year 7 367,859 376,891
NET CURRENT ASSETS/(LIABILITIES) 76,555 (19,284 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,710

(8,497

)

CREDITORS
Amounts falling due after more than one year 8 (7,908 ) (18,219 )

PROVISIONS FOR LIABILITIES (6,789 ) (2,697 )
NET ASSETS/(LIABILITIES) 89,013 (29,413 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 89,012 (29,414 )
SHAREHOLDERS' FUNDS 89,013 (29,413 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 10 July 2025 and were signed by:





Mr G Thomson - Director


NORTHCOTE SERVICES LIMITED (REGISTERED NUMBER: SC220343)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Northcote Services Limited 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 20% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 50% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the proceeds and the carrying value of the asset and is included in the profit and loss account.

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.

NORTHCOTE SERVICES LIMITED (REGISTERED NUMBER: SC220343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtainer under hire purchase contracts are capitalised in the balance sheet. These are depreciation over their estimated useful lives.

The interest is calculated on effective interest method and posted to the profit and loss for the relevant period.

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.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans, are recognised at transaction price.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2023 34,626 31,054 2,273
Additions - 22,486 286
At 31 October 2024 34,626 53,540 2,559
DEPRECIATION
At 1 November 2023 34,626 24,151 2,138
Charge for year - 2,502 153
Transfer to ownership - - -
At 31 October 2024 34,626 26,653 2,291
NET BOOK VALUE
At 31 October 2024 - 26,887 268
At 31 October 2023 - 6,903 135

NORTHCOTE SERVICES LIMITED (REGISTERED NUMBER: SC220343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 93,180 2,423 163,556
Additions - - 22,772
At 31 October 2024 93,180 2,423 186,328
DEPRECIATION
At 1 November 2023 89,431 2,423 152,769
Charge for year 7,498 - 10,153
Transfer to ownership (3,749 ) - (3,749 )
At 31 October 2024 93,180 2,423 159,173
NET BOOK VALUE
At 31 October 2024 - - 27,155
At 31 October 2023 3,749 - 10,787

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2023 14,995
Transfer to ownership (14,995 )
At 31 October 2024 -
DEPRECIATION
At 1 November 2023 11,246
Charge for year 3,749
Transfer to ownership (14,995 )
At 31 October 2024 -
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 3,749

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 359,624 281,041
Other debtors 47,242 74,555
406,866 355,596

NORTHCOTE SERVICES LIMITED (REGISTERED NUMBER: SC220343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,311 14,132
Hire purchase contracts - 658
Trade creditors 111,277 90,444
Tax 9,000 -
Social security and other taxes 4,546 179
VAT 43,624 82,224
Other creditors 18,311 10,896
Directors' current accounts 170,790 170,232
Accrued expenses - 8,126
367,859 376,891

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 7,908 18,219

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 4,077
Bank loans 10,311 10,055
10,311 14,132

Amounts falling due between one and two years:
Bank loans - 1-2 years 7,908 18,219

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 4,077

The company has granted a bond and floating charge in favour of The Royal Bank of Scotland PLC over all present and future property and undertakings of the company.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
Mr G Thomson
Balance outstanding at start of year (170,232 ) (70,698 )
Amounts advanced 1,923 3,469
Amounts repaid (2,481 ) (103,003 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (170,790 ) (170,232 )

NORTHCOTE SERVICES LIMITED (REGISTERED NUMBER: SC220343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

These amounts bear no interest and have no fixed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NORTHCOTE SERVICES LIMITED (REGISTERED NUMBER: SC220343)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Northcote Services Limited for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Northcote Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Northcote Services Limited and state those matters that we have agreed to state to the director of Northcote Services Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Northcote Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Northcote Services Limited. You consider that Northcote Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Northcote Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS


10 July 2025