Northeast Business Growth Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 13160060 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2023

for

NORTHEAST BUSINESS GROWTH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P A Cook

REGISTERED OFFICE:

Beaufront Park

Anick Road

Hexham

Northumberland

NE46 4TU

REGISTERED NUMBER:

13160060 (England and Wales)

ACCOUNTANTS:

Fyfe Moir & Associates

1st Floor, 5 Abercrombie Crt

Prospect Road,

Westhill

Aberdeenshire

Grampian

AB32 6FE

FIXED ASSETS

Intangible assets

4

43,200

48,600

Tangible assets

5

3,841

329

47,041

48,929

CURRENT ASSETS

Debtors

6

7,238

3,071

Cash at bank

23,513

37,350

30,751

40,421

CREDITORS

Amounts falling due within one year

7

105,531

107,098

NET CURRENT LIABILITIES

(74,780

)

(66,677

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,739

)

(17,748

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(27,740

)

(17,749

)

SHAREHOLDERS' FUNDS

(27,739

)

(17,748

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 17 March 2023 and were signed by:

P A Cook - Director

1.	STATUTORY INFORMATION

Northeast Business Growth Ltd 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.

2.	ACCOUNTING POLICIES

Going concern

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.

Although technically insolvent the company is being supported by the director.

Turnover

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

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Computer equipment

-

25% on 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 February 2022

and 31 January 2023

54,000

AMORTISATION

At 1 February 2022

5,400

Amortisation for year

5,400

At 31 January 2023

10,800

NET BOOK VALUE

At 31 January 2023

43,200

At 31 January 2022

48,600

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 February 2022

416

Additions

4,102

At 31 January 2023

4,518

DEPRECIATION

At 1 February 2022

87

Charge for year

590

At 31 January 2023

677

NET BOOK VALUE

At 31 January 2023

3,841

At 31 January 2022

329

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade debtors

7,164

2,494

Other debtors

74

577

7,238

3,071

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade creditors

42,730

64,946

Social security and other taxes

-

100

VAT

1,002

159

Directors' current accounts

58,871

40,412

Accrued expenses

2,928

1,481

105,531

107,098