Northcause Limited - Accounts to registrar (filleted) - small 18.2
Northcause Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| NORTHCAUSE LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 |
| NORTHCAUSE LIMITED (REGISTERED NUMBER: 10352705) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| NORTHCAUSE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Exchange |
| 5 Bank Street |
| Bury |
| BL9 0DN |
| NORTHCAUSE LIMITED (REGISTERED NUMBER: 10352705) |
| STATEMENT OF FINANCIAL POSITION |
| 30 JUNE 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| 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. |
| 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 on |
| NORTHCAUSE LIMITED (REGISTERED NUMBER: 10352705) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2019 |
| 1. | STATUTORY INFORMATION |
| Northcause Limited is a private company, limited by shares, registered in England and Wales. The company's |
| registered number is 10352705 and its registered office address is 20 Aldwych Avenue, Rusholme, Manchester, |
| M14 5NL. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The director has considered the business risks and believes that the company is well placed to manage these risks |
| successfully, thus the going concern basis of accounting has been adopted in preparing these financial statements. |
| Critical accounting estimates and judgements |
| In the application of the company's accounting policies, the director is required to make estimates and |
| judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ |
| from these estimates. |
| Estimating the value of investment property is considered to be a key judgement. |
| Revenue |
| Revenue comprises the aggregate of the fair value of rental services provided. Revenue is recognised as those |
| services that are provided to the occupants of the properties. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| fair value is recognised in profit or loss. |
| Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial |
| assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
| parties and loans to related parties. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
| objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised |
| in the income statement. |
| Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost. |
| 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. |
| NORTHCAUSE LIMITED (REGISTERED NUMBER: 10352705) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| Additions |
| At 30 June 2019 |
| NET BOOK VALUE |
| At 30 June 2019 |
| The directors consider the fair value of the investment property to be equal to its cost as at 30 June 2019. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | SECURED DEBTS |
| The amounts owed to related parties are secured by a fixed, floating and negative charge over the undertaking |
| and all property and assets present and future. |
| NORTHCAUSE LIMITED (REGISTERED NUMBER: 10352705) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2019 |
| 8. | RELATED PARTY DISCLOSURES |
| Included within other debtors are amounts totalling £120,988 (2018: £11,138) due from related companies. |
| Included within trade creditors at the year end are amounts due to related companies totalling £36 (2018 £Nil). |
| Included within other creditors are amounts totalling £21,001 (2018: £11,001) due to related companies. |