NORTHERN VACUUMS LIMITED


Directors	ETHERIDGE, Gerald William
	ETHERIDGE, Harold Grant
	ETHERIDGE, Joan Isobel


Company Secretary	ETHERIDGE, Gerald William


Registered Address	10 Abbey St
	Carlisle
	CA3 8TX


Registered Number	00575688 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or the rendering of services. Turnover from the sale of goods is recognized when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognized 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.

Turnover policy

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/or the rendering of services.

Turnover from the sale of goods is recognized when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognized 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.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of financial position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	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
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Fixtures and fittings	15	-
Vehicles	25	-

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 Income Statement.

	Finance leases and hire purchase contracts
	Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease.

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognized immediately in the Income Statement.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	14		15

3.	Tangible fixed assets

	Land & buildings	Vehicles	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 April 24	398,489	146,340	20,888	565,717
At 31 March 25	398,489	146,340	20,888	565,717
Depreciation and impairment
At 01 April 24	191,481	93,404	19,425	304,310
Charge for year	7,968	13,235	220	21,423
At 31 March 25	199,449	106,639	19,645	325,733
Net book value
At 31 March 25	199,040	39,701	1,243	239,984
At 31 March 24	207,008	52,936	1,463	261,407

4.	Fixed asset investments
	Other investments relate to a 0.12% shareholding in Combined Independent Holdings Limited, a company registered in England and Wales. On 31 March 2024 this investment was revalued on a fair value basis and it is the opinion of the directors that this valuation has not materiality altered at the reporting date.

	Other investments¹	Total
	£	£
Cost or valuation
At 01 April 24	86,215	86,215
Revaluations	3,177	3,177
At 31 March 25	89,392	89,392
Net book value
At 31 March 25	89,392	89,392
At 31 March 24	86,215	86,215

	Notes
	¹Other investments other than loans

5.	Stocks

	2025	2024
	£	£
Finished goods	472,564	502,146
Total	472,564	502,146

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	75,107	67,099
Prepayments and accrued income	7,055	10,724
Total	82,162	77,823


	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.

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	161,062	107,845
Taxation and social security	44,856	63,088
Other creditors	37,199	59,109
Accrued liabilities and deferred income	45,060	47,736
Total	288,177	277,778


	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.

8.	Provisions for liabilities
	The provision for deferred tax arises from the fair value adjustment on investments of £20,000 with the remainder being accelerated capital allowances claimed in respect of tangible assets.

	2025	2024
	£	£
Net deferred tax liability (asset)	32,000	34,000
Total	32,000	34,000

9.	Pension commitments
	The pension cost charge represents contributions payable by the company to the fund and amounted to £13,943 (2024 - £9,325) and £10,080 (2024 - £35,080) for employees and directors respectively.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		239,984		261,407
Investments	4		89,392		86,215
			329,376		347,622
Current assets
Stocks	5	472,564		502,146
Debtors	6	82,162		77,823
Cash at bank and on hand		228,135		225,007
		782,861		804,976
Creditors amounts falling due within one year	7	(288,177)		(277,778)
Net current assets (liabilities)			494,684		527,198
Total assets less current liabilities			824,060		874,820
Provisions for liabilities	8		(32,000)		(34,000)
Net assets			792,060		840,820
Capital and reserves
Called up share capital			887		887
Revaluation reserve			58,670		55,493
Other reserves			113		113
Profit and loss account			732,390		784,327
Shareholders' funds			792,060		840,820