First North Property Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12309568 (England and Wales)

Financial Statements

for the Year Ended 30 November 2025

for

First North Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

H L Anderson

REGISTERED OFFICE:

55 Oldfield Road

Stoke Newington

London

N16 0RR

REGISTERED NUMBER:

12309568 (England and Wales)

Fixed assets

Tangible assets

3

74,560

Current assets

Cash at bank

571

384

Creditors

Amounts falling due within one year

4

(11,030

)

(5,705

)

Net current liabilities

(10,459

)

(5,321

)

Total assets less current liabilities

64,101

69,239

Creditors

Amounts falling due after more than one year

5

(96,476

)

(104,870

)

Net liabilities

(32,375

)

(35,631

)

Capital and reserves

Called up share capital

1

Retained earnings

8

(32,376

)

(35,632

)

(32,375

)

(35,631

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 May 2026 and were signed by:

H L Anderson - Director

1.	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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

Not Depreciated

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

GOING CONCERN

The financial statements have been prepared on a going concern basis, the directors believe this assumption to be appropriate based on the continuing financial support of the company's directors.

If the going concern basis was not appropriate, adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

3.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 December 2024

and 30 November 2025

74,560

NET BOOK VALUE

At 30 November 2025

74,560

At 30 November 2024

74,560

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Directors' current accounts

10,286

5,025

Accrued expenses

744

680

11,030

5,705

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR

2025

2024

£

Bank loans (see note 6)

63,696

Other creditors

32,780

41,174

96,476

104,870

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

63,696

6.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

63,696

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

63,696

The company has provided a legal mortgage over its property and a floating charge over ancillary assets as

continuing security for all present and future liabilities.

8.

RESERVES

Retained

earnings

£

At 1 December 2024

(35,632

)

Profit for the year

3,256

At 30 November 2025

(32,376

)