Company Registration No. NI033080 (Northern Ireland)
North Finance Limited
Unaudited accounts
for the year ended 31 March 2024
North Finance Limited
Unaudited accounts
Contents
North Finance Limited
Company Information
for the year ended 31 March 2024
Directors
Mr N J Cowden
Mr J Cowden
Company Number
NI033080 (Northern Ireland)
Registered Office
203 York Road
Belfast
County Antrim
BT15 3BH
Accountants
H Downey and Company
Incorporated Financial Accountants
65 Eglantine Avenue
Belfast
Antrim
BT9 6EW
North Finance Limited
Statement of financial position
as at 31 March 2024
Tangible assets
23,629
24,988
Cash at bank and in hand
7,072
6,893
Creditors: amounts falling due within one year
(176,564)
(194,143)
Net current assets
55,443
48,460
Called up share capital
139,000
139,000
Profit and loss account
(59,928)
(65,552)
Shareholders' funds
79,072
73,448
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by
Mr N J Cowden
Director
Company Registration No. NI033080
North Finance Limited
Notes to the Accounts
for the year ended 31 March 2024
North Finance Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI033080. The registered office is 203 York Road, Belfast, County Antrim, BT15 3BH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
25,514
5,605
82,071
113,190
At 31 March 2024
25,514
5,605
82,071
113,190
At 1 April 2023
4,261
5,605
78,336
88,202
Charge for the year
425
-
934
1,359
At 31 March 2024
4,686
5,605
79,270
89,561
At 31 March 2024
20,828
-
2,801
23,629
At 31 March 2023
21,253
-
3,735
24,988
Amounts falling due within one year
Trade debtors
222,973
224,795
Accrued income and prepayments
1,962
1,962
North Finance Limited
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
9,267
12,277
Taxes and social security
4,199
27,843
Other creditors
2,482
3,712
Loans from directors
104,871
84,649
Deferred income
47,879
57,225
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Average number of employees
During the year the average number of employees was 4 (2023: 4).