3 3 Northern Territory Developments Limited SC773643 false 2024-07-01 2025-06-30 2025-06-30 The principal activity of the company is building and joinery. Digita Accounts Production Advanced 6.30.9574.0 true SC773643 2024-07-01 2025-06-30 SC773643 2025-06-30 SC773643 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-06-30 SC773643 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-06-30 SC773643 core:CurrentFinancialInstruments 2025-06-30 SC773643 core:CurrentFinancialInstruments core:WithinOneYear 2025-06-30 SC773643 core:Non-currentFinancialInstruments core:AfterOneYear 2025-06-30 SC773643 core:FurnitureFittingsToolsEquipment 2025-06-30 SC773643 core:MotorVehicles 2025-06-30 SC773643 bus:SmallEntities 2024-07-01 2025-06-30 SC773643 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 SC773643 bus:FilletedAccounts 2024-07-01 2025-06-30 SC773643 bus:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 SC773643 bus:RegisteredOffice 2024-07-01 2025-06-30 SC773643 bus:Director1 2024-07-01 2025-06-30 SC773643 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 SC773643 core:FurnitureFittingsToolsEquipment 2024-07-01 2025-06-30 SC773643 core:MotorVehicles 2024-07-01 2025-06-30 SC773643 countries:Scotland 2024-07-01 2025-06-30 SC773643 2024-06-30 SC773643 core:FurnitureFittingsToolsEquipment 2024-06-30 SC773643 core:MotorVehicles 2024-06-30 SC773643 2023-06-23 2024-06-30 SC773643 2024-06-30 SC773643 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-06-30 SC773643 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-06-30 SC773643 core:CurrentFinancialInstruments 2024-06-30 SC773643 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 SC773643 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 SC773643 core:FurnitureFittingsToolsEquipment 2024-06-30 SC773643 core:MotorVehicles 2024-06-30 xbrli:pure iso4217:GBP

Registration number: SC773643

Northern Territory Developments Limited

Unaudited Financial Statements

for the Year Ended 30 June 2025

 

Northern Territory Developments Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Northern Territory Developments Limited

(Registration number: SC773643)
Statement of Financial Position as at 30 June 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

35,658

23,255

Current assets

 

Stocks

5

4,500

-

Debtors

6

30,753

25,118

Cash at bank and in hand

 

16,411

27,322

 

51,664

52,440

Creditors: Amounts falling due within one year

7

(56,411)

(39,859)

Net current (liabilities)/assets

 

(4,747)

12,581

Total assets less current liabilities

 

30,911

35,836

Creditors: Amounts falling due after more than one year

7

(5,966)

(18,896)

Provisions for liabilities

(6,775)

-

Net assets

 

18,170

16,940

Capital and reserves

 

Called up share capital

2

2

Retained earnings

18,168

16,938

Shareholders' funds

 

18,170

16,940

For the financial year ending 30 June 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 Income Statement.

Approved and authorised by the Board on 6 August 2025 and signed on its behalf by:
 

 

Northern Territory Developments Limited

(Registration number: SC773643)
Statement of Financial Position as at 30 June 2025

.........................................
Kieran Tennent
Director

 

Northern Territory Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
29 Commercial Street
Dundee
DD1 3DG
Scotland

These financial statements were authorised for issue by the Board on 6 August 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.

The financial statements are prepared in sterling which is the functional currency of the entity.

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 and deferred 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.

 

Northern Territory Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Northern Territory Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

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 income statement 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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Northern Territory Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2024 - 3).

 

Northern Territory Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2024

9,500

16,339

25,839

Additions

-

16,499

16,499

At 30 June 2025

9,500

32,838

42,338

Depreciation

At 1 July 2024

950

1,634

2,584

Charge for the year

950

3,146

4,096

At 30 June 2025

1,900

4,780

6,680

Carrying amount

At 30 June 2025

7,600

28,058

35,658

At 30 June 2024

8,550

14,705

23,255

5

Stocks

2025
£

2024
£

Work in progress

4,500

-

6

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

7,362

25,116

Amounts owed by related parties

50

-

Other debtors

 

23,341

2

   

30,753

25,118

7

Creditors

Creditors: amounts falling due within one year

 

Northern Territory Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

2,557

-

Trade creditors

 

19,122

14,452

Taxation and social security

 

1,344

3,907

Accruals and deferred income

 

1,430

1,296

Other creditors

 

31,958

20,204

 

56,411

39,859

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

5,966

18,896

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Hire purchase contracts

5,966

18,896

Current loans and borrowings

2025
£

2024
£

Hire purchase contracts

2,557

-

9

Dividends

Final dividends paid

2025
£

2024
£

Final dividend of 10,000.00 (2024 - Nil) per each Ordinary

10,000

-