REGISTERED NUMBER: 00516927 (England and Wales)

C B North & Sons Storage Limited

Unaudited Financial Statements for the Year Ended 31st March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A C North

R J North

K S North

SECRETARY:

K S North

REGISTERED OFFICE:

65 Hedon Road

Hull

East Yorkshire

HU9 1LW

REGISTERED NUMBER:

00516927 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

563,250

476,250

563,250

476,250

CURRENT ASSETS

Debtors

6

1,944

3,620

Cash at bank

39,938

28,792

41,882

32,412

CREDITORS

Amounts falling due within one year

7

10,622

18,195

NET CURRENT ASSETS

31,260

14,217

TOTAL ASSETS LESS CURRENT LIABILITIES

594,510

490,467

PROVISIONS FOR LIABILITIES

25,873

17,077

NET ASSETS

568,637

473,390

CAPITAL AND RESERVES

Called up share capital

100

100

Non-distributable reserves

9

224,699

146,495

Retained earnings

9

343,838

326,795

SHAREHOLDERS' FUNDS

568,637

473,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th December 2025 and were signed on its behalf by:

R J North - Director

1.	STATUTORY INFORMATION

C B North & Sons Storage Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of value added tax and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rent receivable

Rent receivable under operating leases is credited to the profit and loss account on a straight line basis over the period of the lease.

Interest receivable

Interest income is recognised using the effective interest method.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - straight line over 7 years

Investment property

Investment properties for which fair value can be measured reliably are measured at fair value at each reporting date with changes to fair value recognised in profit or loss.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past recording periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 substantially enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactions price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2024

and 31st March 2025

7,000

DEPRECIATION

At 1st April 2024

and 31st March 2025

7,000

NET BOOK VALUE

At 31st March 2025

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

476,250

Revaluations

87,000

At 31st March 2025

563,250

NET BOOK VALUE

At 31st March 2025

563,250

At 31st March 2024

476,250

Fair value at 31st March 2025 is represented by:

£

Valuation in 2006

75,322

Valuation in 2017

47,000

Valuation in 2021

41,250

Valuation in 2025

87,000

Cost

312,678

563,250

Fair value has been assessed by the directors at 31st March 2025 at open market value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,761

2,397

Other debtors

183

1,223

1,944

3,620

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

4,621

Trade creditors

294

-

Taxation and social security

5,521

7,954

Other creditors

4,807

5,620

10,622

18,195

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

-

4,621

The loan is secured by a legal charge over the freehold properties.

9.

RESERVES

Called up share capital

Called up share capital represents the nominal value of shares that have been issued

Non-distributable reserves

Non-distributable reserves represent cumulative fair value gains on investment properties at fair value, net of relevant deferred tax provisions..

Retained earnings

Retained earnings represents cumulative profits and losses net of dividends and other adjustments.