Northell Partners LTD 31/12/2024 iXBRL

Company registration number: 05022710

Northell Partners LTD

Unaudited filleted abridged financial statements

31 December 2024

Northell Partners LTD

Contents

Directors and other information

Abridged statement of financial position

Statement of changes in equity

Notes to the financial statements

Northell Partners LTD

Directors and other information


Directors
	Peter Verster	(Resigned 17 July 2024)
	George Tiedens	(Appointed 17 July 2024)
	Benjamin Goodband	(Appointed 17 April 2024)
	Kristian Elgey	(Appointed 17 July 2024)


Company number	05022710


Registered office	12th Floor Heron House
	110 Bishopsgate
	London
	EC2N 4AY


Accountant	Accountants Advice Limited
	29 Temple Lane
	Copmanthorpe
	York
	YO23 3TB

Northell Partners LTD

Abridged statement of financial position

31 December 2024

		31/12/24		31/12/23
	Note	£	£	£	£

Fixed assets
Tangible assets	13	32,286		9,045
		_______		_______
			32,286		9,045

Current assets
Stocks		81,600		-
Debtors		261,316		280,681
Cash at bank and in hand		241,455		333,769
		_______		_______
		584,371		614,450
Creditors: amounts falling due
within one year		( 620,773)		( 223,701)
		_______		_______
Net current (liabilities)/assets			( 36,402)		390,749
			_______		_______
Total assets less current liabilities			( 4,116)		399,794


Provisions for liabilities			146		-

			_______		_______
Net (liabilities)/assets			( 3,970)		399,794
			_______		_______

Capital and reserves
Called up share capital			110		110
Profit and loss account			( 4,080)		399,684
			_______		_______
Shareholders (deficit)/funds			( 3,970)		399,794
			_______		_______

For the year ending 31 December 2024 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 financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

George Tiedens

Director

Company registration number: 05022710

Northell Partners LTD

Statement of changes in equity

Year ended 31 December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£


At 17 November 2022	110	332,294	332,404

(Loss)/profit for the year		67,390	67,390
	_______	_______	_______
Total comprehensive income for the year	-	67,390	67,390

	_______	_______	_______
At 31 December 2023 and 1 January 2024	110	399,684	399,794

(Loss)/profit for the year		( 403,764)	( 403,764)
	_______	_______	_______
Total comprehensive income for the year	-	( 403,764)	( 403,764)

	_______	_______	_______
At 31 December 2024	110	( 4,080)	( 3,970)
	_______	_______	_______

Northell Partners LTD

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England & wales. The address of the registered office is 12th Floor Heron House, 110 Bishopsgate, London, EC2N 4AY.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25 %	straight line
Fittings fixtures and equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Limited by guarantee

5. Turnover

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

6. Other operating income

			Year	Period
			ended	ended
			31/12/24	31/12/23

7. Operating loss/profit

Operating loss/profit is stated after charging/(crediting):

	Year	Period
	ended	ended
	31/12/24	31/12/23
	£	£
Depreciation of tangible assets	7,768	2,261
Impairment of trade debtors	(30,576)	42,695
	_______	_______

8. Staff costs

The aggregate payroll costs incurred during the year were:

	Year	Period
	ended	ended
	31/12/24	31/12/23
	£	£
Wages and salaries	1,072,565	297,512
Social security costs	109,705	29,713
Other pension costs	17,298	6,922
	_______	_______
	1,199,568	334,147
	_______	_______

9. Employee numbers

The average number of persons employed by the company during the year amounted to 16 (2023: 6 ).

10. Other interest receivable and similar income

11. Loss/profit before taxation

Loss/profit before taxation is stated after charging/(crediting):

	Year	Period
	ended	ended
	31/12/24	31/12/23
	£	£
Depreciation of tangible assets	7,768	2,261
	_______	_______

12. Tax on loss/profit

Major components of tax income/expense

	Year	Period
	ended	ended
	31/12/24	31/12/23
	£	£
Current tax:
UK current tax expense	-	17,950
Group relief payable / (receivable)	( 53,158)	-
Adjustment in respect of prior periods	( 16,019)	-
	_______	_______
Total current tax	( 69,177)	17,950

Deferred tax:
Origination and reversal of timing differences	( 2,407)	-
Deferred tax - Prior year adjustments	2,261	-
	_______	_______
Total deferred tax	( 146)	-
	_______	_______
Tax on loss/profit	( 69,323)	17,950
	_______	_______

Reconciliation of tax income/expense

The tax assessed on the loss/profit for the year is higher than (2023: lower than) the standard rate of corporation tax in the UK of 25.00 % (2023: 22.33%).

	Year	Period
	ended	ended
	31/12/24	31/12/23
	£	£
(Loss)/profit before taxation	( 473,087)	85,340
	_______	_______

(Loss)/profit multiplied by rate of tax	( 118,272)	19,056
Effect of expenses not deductible for tax purposes	56	( 1,106)
Remeasurement of deferred tax for changes in rates	1,915	-
Deferred tax not recognised on losses etc	44,717	-
Adjustments to tax charge in respoect of previous periods - deferred tax	2,261	-
	_______	_______
Tax on loss/profit	( 69,323)	17,950
	_______	_______

13. Tangible assets


		£
	Cost
	At 1 January 2024	47,862
	Additions	31,009
		_______
	At 31 December 2024	78,871
		_______
	Depreciation
	At 1 January 2024	38,817
	Charge for the year	7,768
		_______
	At 31 December 2024	46,585
		_______
	Carrying amount
	At 31 December 2024	32,286
		_______
	At 31 December 2023	9,045
		_______

At 31 December 2024

At 31 December 2023

14. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	31/12/24	31/12/23
	£	£
Included in provisions (note )	( 146)	-
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	31/12/24	31/12/23
	£	£
Fixed asset timing differences	320	-
Short term timing differences	(466)	-
	_______	_______
	(146)	(-)
	_______	_______