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Registration number: 07153326

53 Degrees (Northern) Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

53 Degrees (Northern) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

53 Degrees (Northern) Limited

Company Information

Director

Mr Rodney Pallister

Registered office

Dale Side
116 Leeds Road
Harrogate
North Yorkshire
HG2 8HH

 

53 Degrees (Northern) Limited

(Registration number: 07153326)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

934

1,867

Current assets

 

Debtors

5

10,374

-

Cash at bank and in hand

 

59,459

106,999

 

69,833

106,999

Creditors: Amounts falling due within one year

6

(1,000)

(22,567)

Net current assets

 

68,833

84,432

Net assets

 

69,767

86,299

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

69,765

86,297

Shareholders' funds

 

69,767

86,299

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 July 2025
 

.........................................
Mr Rodney Pallister
Director

 

53 Degrees (Northern) Limited

Notes to the 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:
Dale Side
116 Leeds Road
Harrogate
North Yorkshire
HG2 8HH
England

These financial statements were authorised for issue by the director on 25 July 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

53 Degrees (Northern) Limited

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

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.

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

25% Straight line

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.

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.

 

53 Degrees (Northern) Limited

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

3

Staff numbers

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

4

tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2024

4,066

4,066

At 28 February 2025

4,066

4,066

Depreciation

At 1 March 2024

2,199

2,199

Charge for the year

933

933

At 28 February 2025

3,132

3,132

Carrying amount

At 28 February 2025

934

934

At 29 February 2024

1,867

1,867

5

Debtors

Current

2025
£

2024
£

Other debtors

10,374

-

 

10,374

-

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Bank loans and overdrafts

8

-

18,995

trade creditors

 

-

1,873

Taxation and social security

 

-

699

Accruals and deferred income

 

1,000

1,000

 

1,000

22,567

 

53 Degrees (Northern) Limited

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

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

-

18,995

9

Related party transactions

Transactions with the director

2025

At 1 March 2024
£

Advances to director
£

At 28 February 2025
£

Mr Rodney Pallister

Unsecured loan payable by the director to the company, repayable on demand.

(18,995)

28,995

10,000

2024

At 1 March 2023
£

Advances to director
£

At 29 February 2024
£

Mr Rodney Pallister

Unsecured loan payable by the director to the company, repayable on demand.

(20,147)

1,152

(18,995)

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

-

797