| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2026 |
| for |
| North's Shoes Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2026 |
| for |
| North's Shoes Limited |
| North's Shoes Limited (Registered number: 00505065) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2026 |
| Page |
| Chartered accountants' report | 1 |
| Statement of financial position | 2 | to | 3 |
| Notes to the financial statements | 4 | to | 9 |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| North's Shoes Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North's Shoes Limited for the year ended 31 January 2026 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of North's Shoes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of North's Shoes Limited and state those matters that we have agreed to state to the Board of Directors of North's Shoes Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North's Shoes Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that North's Shoes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of North's Shoes Limited. You consider that North's Shoes Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of North's Shoes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 22 St George's Street |
| Stamford |
| Lincolnshire |
| PE9 2BU |
| North's Shoes Limited (Registered number: 00505065) |
| Statement of Financial Position |
| 31 January 2026 |
| 2026 | 2025 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Intangible assets | 5 |
| Tangible assets | 6 |
| Current assets |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 9 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 13 |
| Retained earnings |
| Shareholders' funds |
| North's Shoes Limited (Registered number: 00505065) |
| Statement of Financial Position - continued |
| 31 January 2026 |
| 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 were approved by the Board of Directors and authorised for issue on |
| North's Shoes Limited (Registered number: 00505065) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2026 |
| 1. | Statutory information |
| North's Shoes Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible asset includes directly attributable incremental costs incurred in their acquisition and installation. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| North's Shoes Limited (Registered number: 00505065) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 3. | Accounting policies - continued |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation. Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Trade debtors |
| Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. |
| Trade creditors |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. |
| North's Shoes Limited (Registered number: 00505065) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 3. | Accounting policies - continued |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
| Borrowings |
| Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. |
| Dividends |
| Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared. |
| Share Capital |
| Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. |
| Going concern |
| The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon an improvement in the company's trading position and continued financial support from its directors, shareholders and related companies and partnerships. The financial statements do not include any adjustments that would arise if such support is not continuing. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| 5. | Intangible fixed assets |
| Website |
| Goodwill | development | Totals |
| £ | £ | £ |
| Cost |
| At 1 February 2025 |
| and 31 January 2026 |
| Amortisation |
| At 1 February 2025 |
| Amortisation for year |
| At 31 January 2026 |
| Net book value |
| At 31 January 2026 |
| At 31 January 2025 |
| North's Shoes Limited (Registered number: 00505065) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 6. | Tangible fixed assets |
| Fixtures |
| Short | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 February 2025 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 January 2026 |
| Depreciation |
| At 1 February 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 January 2026 |
| Net book value |
| At 31 January 2026 |
| At 31 January 2025 |
| 7. | Stocks |
| 2026 | 2025 |
| £ | £ |
| Stocks |
| 8. | Debtors: amounts falling due within one year |
| 2026 | 2025 |
| £ | £ |
| Trade debtors |
| Amounts owed by participating interests | 2,250 | 4,500 |
| Other debtors |
| Directors' loan accounts | 2,447 | 4,154 |
| Prepayments |
| 9. | Creditors: amounts falling due within one year |
| 2026 | 2025 |
| £ | £ |
| Bank loans and overdrafts (see note 11) |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax | ( |
) |
| Social security and other taxes |
| VAT | 19,197 | 39,771 |
| Accrued expenses |
| North's Shoes Limited (Registered number: 00505065) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 10. | Creditors: amounts falling due after more than one year |
| 2026 | 2025 |
| £ | £ |
| Bank loans (see note 11) |
| Hire purchase contracts |
| 11. | Loans |
| An analysis of the maturity of loans is given below: |
| 2026 | 2025 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 12. | Secured debts |
| The following secured debts are included within creditors: |
| 2026 | 2025 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 60,116 | 23,698 |
| Obligations under finance lease and hire purchase contracts are secured on assets financed. |
| Bounce Back loan is guaranteed by the Government. |
| 13. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2026 | 2025 |
| value: | £ | £ |
| Ordinary | £1 | 2,000 | 2,000 |
| Ordinary A | £1 | 2,300 | 2,300 |
| Ordinary B | £1 | 700 | 700 |
| 5,000 | 5,000 |
| 14. | Capital commitments |
| 2026 | 2025 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| The commitment is in respect of Stamford shop rental obligation. |
| North's Shoes Limited (Registered number: 00505065) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 15. | Directors' advances, credits and guarantees |
| The following advances and credits to directors subsisted during the years ended 31 January 2026 and 31 January 2025: |
| 2026 | 2025 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |