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Registered number: 11783696
66 NORTH UK LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2025
Accounts and Legal Consultants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 11783696
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 70,514 105,771
Tangible Assets 5 1,002,497 1,503,377
1,073,011 1,609,148
CURRENT ASSETS
Stocks 6 321,612 344,777
Debtors 7 3,639,912 891,575
Cash at bank and in hand 13,913 24,795
3,975,437 1,261,147
Creditors: Amounts Falling Due Within One Year 8 (159,517 ) (6,455,723 )
NET CURRENT ASSETS (LIABILITIES) 3,815,920 (5,194,576 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,888,931 (3,585,428 )
NET ASSETS/(LIABILITIES) 4,888,931 (3,585,428 )
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 4,887,931 (3,586,428 )
SHAREHOLDERS' FUNDS 4,888,931 (3,585,428)
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For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Helgi Oskarsson
Director
24/09/2026
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
66 NORTH UK LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11783696 . The registered office is Unit 2 100 Regent St., 66 North Office, London, W1B 5SR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The accounts are presented in £ sterling.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are professional fees related to an acquired lease. It is amortised to the profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20%
Fixtures & Fittings 20%
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
...CONTINUED
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2.7. Financial Instruments - continued
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2024: 13)
13 13
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4. Intangible Assets
Other
£
Cost
As at 1 January 2025 176,285
As at 31 December 2025 176,285
Amortisation
As at 1 January 2025 70,514
Provided during the period 35,257
As at 31 December 2025 105,771
Net Book Value
As at 31 December 2025 70,514
As at 1 January 2025 105,771
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2025 92,024 2,418,354 2,510,378
Additions - 1,237 1,237
As at 31 December 2025 92,024 2,419,591 2,511,615
Depreciation
As at 1 January 2025 37,844 969,157 1,007,001
Provided during the period 18,405 483,712 502,117
As at 31 December 2025 56,249 1,452,869 1,509,118
Net Book Value
As at 31 December 2025 35,775 966,722 1,002,497
As at 1 January 2025 54,180 1,449,197 1,503,377
6. Stocks
2025 2024
£ £
Stock 321,612 344,777
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7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 6,198 5,624
Prepayments and accrued income 294,756 269,455
Other debtors 191,620 160,178
Amounts owed by group undertakings 2,697,338 -
3,189,912 435,257
Due after more than one year
Other debtors 450,000 456,318
3,639,912 891,575
Short term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 29,952 104,188
Other taxes and social security 110,478 7,148
Other creditors 19,087 6,811
Amounts owed to group undertakings - 6,337,576
159,517 6,455,723
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Related Party Transactions
Details of transactions between the company and related parties are disclosed below. The following balances were outstanding at the end of the reporting period:
Sjóklæðagerðin hf 2025: £2,697,338 
This amount is disclosed in Amounts owed by group undertakings.
Business with related parties has been done on a similar basis as business with unrelated parties
The amounts outstanding are unsecured and will be settled in cash. No guarantees have been given or received. No expense has been recognised in the current or prior years for bad or doubtful debts in respect of the amounts owed by related parties.
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11. Ultimate Controlling Party
66 North UK Limited is 100% owned by Sjóklæðagerðin hf of:
11 Midhrauni
Gardabae
210
Iceland
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