Northern Zeitgeist Limited - Accounts to registrar (filleted) - small 18.2

Northern Zeitgeist Limited - Accounts to registrar (filleted) - small 18.2

NORTHERN ZEITGEIST LIMITED - Company Information

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REGISTERED NUMBER: 07860501 (England and Wales)















Financial Statements for the Year Ended 31 January 2020

for

Northern Zeitgeist Limited
Northern Zeitgeist Limited (Registered number: 07860501)






Contents of the Financial Statements
for the Year Ended 31 January 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Northern Zeitgeist Limited

Company Information
for the Year Ended 31 January 2020







DIRECTOR: R McGinnis





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 07860501 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW
Page 1
Northern Zeitgeist Limited (Registered number: 07860501)

Balance Sheet
31 January 2020

31.1.20 31.1.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,157 17,146
Investments 5 2,195 2,195
14,352 19,341

CURRENT ASSETS
Debtors 6 793,772 812,497
Cash at bank 338,622 267,213
1,132,394 1,079,710
CREDITORS
Amounts falling due within one year 7 6,385 20,874
NET CURRENT ASSETS 1,126,009 1,058,836
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,140,361
1,078,177

PROVISIONS FOR LIABILITIES 2,310 3,258
NET ASSETS 1,138,051 1,074,919

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,137,951 1,074,819
SHAREHOLDERS' FUNDS 1,138,051 1,074,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 notes form part of these financial statements

Page 2 continued...
Northern Zeitgeist Limited (Registered number: 07860501)

Balance Sheet - continued
31 January 2020


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 14 October 2020 and were signed by:





R McGinnis - Director


The notes form part of these financial statements

Page 3
Northern Zeitgeist Limited (Registered number: 07860501)

Notes to the Financial Statements
for the Year Ended 31 January 2020

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover represents income from the fair value of the organisation of events, excluding value added tax. Income is recognised in the accounting period in which the events are organised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Investments in subsidiaries
Investments included in the company balance sheet are recorded at cost less any provisions for impairment and relate to investments in subsidiary undertakings.

Financial instruments
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 profit and loss.

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.


Page 4 continued...
Northern Zeitgeist Limited (Registered number: 07860501)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2020

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - 2 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2019 49,018
Additions 1,277
At 31 January 2020 50,295
DEPRECIATION
At 1 February 2019 31,872
Charge for year 6,266
At 31 January 2020 38,138
NET BOOK VALUE
At 31 January 2020 12,157
At 31 January 2019 17,146

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 February 2019
and 31 January 2020 100 2,095 2,195
NET BOOK VALUE
At 31 January 2020 100 2,095 2,195
At 31 January 2019 100 2,095 2,195

Page 5 continued...
Northern Zeitgeist Limited (Registered number: 07860501)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2020

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.20 31.1.19
£    £   
Other debtors 793,772 812,497

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.20 31.1.19
£    £   
Taxation and social security 498 19,558
Other creditors 5,887 1,316
6,385 20,874

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr R McGinnis, the director operates a current account to which transactions of a private nature are charged. Included in other debtors at 31st January 2020 is £157,358 (£123,024 2019). The loan is repayable on demand and included interest at 2.5%.

9. RELATED PARTY DISCLOSURES

Included in other debtors at 31st January 2020 is £418,898 owed from related parties. All loans are repayable on demand and interest free.

Page 6