Registered number
07381078
NORTH LONDON ACCOUNTING SERVICES LTD
Filleted Accounts
30 June 2024
NORTH LONDON ACCOUNTING SERVICES LTD
Registered number: 07381078
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 71,169 65,272
Current assets
Debtors 4 36,005 2,491
Cash at bank and in hand 58,660 62,958
94,665 65,449
Creditors: amounts falling due within one year 5 (53,159) (40,586)
Net current assets 41,506 24,863
Total assets less current liabilities 112,675 90,135
Creditors: amounts falling due after more than one year 6 (30,188) (36,655)
Net assets 82,487 53,480
Capital and reserves
Called up share capital 100 100
Profit and loss account 82,387 53,380
Shareholder's funds 82,487 53,480
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
GEORGE LOUCA
Director
Approved by the board on 1 August 2025
NORTH LONDON ACCOUNTING SERVICES LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment 20% reducing Balance
Plant and machinery 20% reducing Balance
Motor Vehicles 20% reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 55,582 27,434 - 83,016
Additions - 1,434 8,360 9,794
At 30 June 2024 55,582 28,868 8,360 92,810
Depreciation
At 1 July 2023 - 17,744 - 17,744
Charge for the year - 2,225 1,672 3,897
At 30 June 2024 - 19,969 1,672 21,641
Net book value
At 30 June 2024 55,582 8,899 6,688 71,169
At 30 June 2023 55,582 9,690 - 65,272
4 Debtors 2024 2023
£ £
Trade debtors 36,005 2,491
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 22,180 21,590
Directors Loan Account 11,124 9,604
Taxation and social security costs 19,855 9,392
53,159 40,586
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,188 36,655
7 Other information
NORTH LONDON ACCOUNTING SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
70 BOUNCES ROAD
EDMONTON
LONDON
N9 8JS
NORTH LONDON ACCOUNTING SERVICES LTD 07381078 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts April 2025 GEORGE LOUCA No description of principal activity 07381078 2022-07-01 2023-06-30 07381078 core:WithinOneYear 2023-06-30 07381078 core:AfterOneYear 2023-06-30 07381078 core:ShareCapital 2023-06-30 07381078 core:RetainedEarningsAccumulatedLosses 2023-06-30 07381078 2023-07-01 2024-06-30 07381078 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07381078 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 07381078 bus:Director40 2023-07-01 2024-06-30 07381078 1 2023-07-01 2024-06-30 07381078 2 2023-07-01 2024-06-30 07381078 core:LandBuildings 2023-07-01 2024-06-30 07381078 core:PlantMachinery 2023-07-01 2024-06-30 07381078 core:Vehicles 2023-07-01 2024-06-30 07381078 countries:England 2023-07-01 2024-06-30 07381078 bus:FRS102 2023-07-01 2024-06-30 07381078 bus:FilletedAccounts 2023-07-01 2024-06-30 07381078 2024-06-30 07381078 core:WithinOneYear 2024-06-30 07381078 core:AfterOneYear 2024-06-30 07381078 core:ShareCapital 2024-06-30 07381078 core:RetainedEarningsAccumulatedLosses 2024-06-30 07381078 core:LandBuildings 2024-06-30 07381078 core:PlantMachinery 2024-06-30 07381078 core:Vehicles 2024-06-30 07381078 2023-06-30 07381078 core:LandBuildings 2023-06-30 07381078 core:PlantMachinery 2023-06-30 07381078 core:Vehicles 2023-06-30 iso4217:GBP xbrli:pure