North East Peripherals Ltd - Filleted accounts

Registered number

SC216788

North East Peripherals Ltd

Filleted Accounts

31 January 2025

North East Peripherals Ltd
Registered number:		SC216788
Balance Sheet
as at 31 January 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	4		-			-
Tangible assets	5		182,521			133,563
Investments	6		-			-
			182,521			133,563

Current assets
Stocks		44,502			41,133
Debtors	7	72,486			83,155
Investments held as current assets	8	-			-
Cash at bank and in hand		148,660			196,658
		265,648			320,946

Creditors: amounts falling due within one year	9	(62,136)			(90,513)

Net current assets			203,512			230,433

Total assets less current liabilities			386,033			363,996

Creditors: amounts falling due after more than one year	10		-			-

Provisions for liabilities			-			-


Net assets			386,033			363,996

Capital and reserves
Called up share capital			10			10
Share premium			-			-
Revaluation reserve	12		-			-
Profit and loss account			386,023			363,986

Shareholder's funds			386,033			363,996

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.




Mr Martin Simpson
Director
Approved by the board on 29 October 2025

North East Peripherals Ltd
Notes to the Accounts
for the year ended 31 January 2025


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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Motor Vehicles			25% reducing balance
	Plant and machinery			25% reducing balance
	Fixtures, fittings, tools and equipment			25% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.

	Provisions

	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Exceptional items					2025		2024
£							£




						-		-


3	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					6		6


4	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 February 2024							-
	Additions							-
	Disposals							-
	At 31 January 2025							-

	Amortisation
	At 1 February 2024							-
	Provided during the year							-
	On disposals							-
	At 31 January 2025							-

	Net book value
	At 31 January 2025							-
	At 31 January 2024							-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


5	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 February 2024	103,481		25,167		117,087		245,735
	Additions	78,000		-		-		78,000
	Surplus on revaluation	-		-		-		-
	Disposals	-		-		(27,455)		(27,455)
	At 31 January 2025	181,481		25,167		89,632		296,280

	Depreciation
	At 1 February 2024	-		23,607		88,565		112,172
	Charge for the year	-		520		7,930		8,450
	Surplus on revaluation	-		-		-		-
	On disposals	-		-		(6,863)		(6,863)
	At 31 January 2025	-		24,127		89,632		113,759

	Net book value
	At 31 January 2025	181,481		1,040		-		182,521
	At 31 January 2024	103,481		1,560		28,522		133,563


	Freehold land and buildings:					2025		2024
£							£
	Historical cost					-		-
	Cumulative depreciation based on historical cost					-		-
						-		-
	Included within the net book value of land and buildings above is £50,610 (2017 - £50,610) in respect of freehold land and buildings and £52,871 (2017 - £52,871) in respect of long leasehold land and buildings.


6	Investments
Investments in
subsidiary					Other
undertakings					investments		Total
£					£		£
	Cost
	At 1 February 2024			-		-		-
	Additions			-		-		-
	Revaluation			-		-		-
	Disposals			-		-		-

	At 31 January 2025			-		-		-

	Historical cost
	At 1 February 2024			-		-
	At 31 January 2025			-		-

	[For revalued investments, see FRS 102 paragraphs 1AC.15, 1AC.22 and 1AC.23 for disclosures]


7	Debtors					2025		2024
£							£

	Trade debtors					66,311		75,596
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					-		-
	Deferred tax asset					-		-
	Other debtors					6,175		7,559
						72,486		83,155

	Amounts due after more than one year included above					-		-


8	Investments held as current assets					2025		2024
£							£
	Fair value
	Listed investments					-		-
	Unlisted investments					-		-
						-		-

	Increase/(decrease) in fair value included in the profit and loss account for the financial year
	Listed investments					-		-
	Unlisted investments					-		-
						-		-

	[For revalued investments, see FRS 102 paragraphs 1AC.22 and 1AC.23 for disclosures]


9	Creditors: amounts falling due within one year					2025		2024
£							£

	Non-equity preference shares					-		-
	Bank loans and overdrafts					2,120		302
	Obligations under finance lease and hire purchase contracts					-		15,023
	Trade creditors					34,437		59,731
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					-		-
	Taxation and social security costs					22,462		14,228
	Other creditors					3,117		1,229
						62,136		90,513


10	Creditors: amounts falling due after one year					2025		2024
£							£

	Non-equity preference shares					-		-
	Bank loans					-		-
	Obligations under finance lease and hire purchase contracts					-		-
	Trade creditors					-		-
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					-		-
	Other creditors					-		-
						-		-


11	Loans					2025		2024
£							£
	Creditors include:
	Amounts payable otherwise than by instalment falling due for payment after more than five years					-		-
	Instalments falling due for payment after more than five years					-		-
						-		-


	Secured bank loans					-		-

	[Give an indication of the nature and form of the security for the bank loans]


12	Revaluation reserve					2025		2024
£							£

	At 1 February 2024					-		-
	Gain on revaluation of land and buildings					-		-
	Deferred taxation arising on the revaluation of land and buildings					-		-

	At 31 January 2025					-		-


13	Events after the reporting date




14	Capital commitments					2025		2024
£							£

	Amounts contracted for but not provided in the accounts					-		-


15	Pension commitments




16	Other financial commitments					2025		2024
£							£

	Total future minimum payments under non-cancellable operating leases					-		-


17	Contingent liabilities




18	Off-balance sheet arrangements




19	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr Martin Simpson
	Directors Loan	(1,735)		21,826		(20,600)		(509)

	During the year the company provided the director with an interest free loan, which is unsecured,repayable on demand and shown under other debtors

		(1,735)		21,826		(20,600)		(509)


20	Guarantees made by the company on behalf of directors
	Main terms			Maximum	Amount paid
liability					and incurred
£					£
	Mr Martin Simpson
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-


				-		-


21	Related party transactions




22	Controlling party




23	Other information

	North East Peripherals Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
	675-677 George Street

	Aberdeen

	AB25 3XP