Northlands Commercial Limited - Accounts to registrar - small 17.2

Northlands Commercial Limited - Accounts to registrar - small 17.2

NORTHLANDS COMMERCIAL LIMITED - Company Information

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REGISTERED NUMBER: 00708579 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

NORTHLANDS COMMERCIAL LIMITED

NORTHLANDS COMMERCIAL LIMITED (REGISTERED NUMBER: 00708579)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

NORTHLANDS COMMERCIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTORS: Dr K Pettit
D G F Young





SECRETARY: Dr K Pettit





REGISTERED OFFICE: C/O Kelley and Lowe Limited
Gwynfa House
677 Princes Road
Dartford
Kent
DA2 6EF





REGISTERED NUMBER: 00708579 (England and Wales)





ACCOUNTANTS: Kelley & Lowe Limited
Gwynfa House
677 Princes Road
Dartford
Kent
DA2 6EF
Page 1
NORTHLANDS COMMERCIAL LIMITED (REGISTERED NUMBER: 00708579)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 300,000 300,000

CURRENT ASSETS
Debtors 4 400 1,200
Cash at bank 62,838 82,538
63,238 83,738
CREDITORS
Amounts falling due within one year 5 6,733 10,459
NET CURRENT ASSETS 56,505 73,279
TOTAL ASSETS LESS CURRENT
LIABILITIES
356,505
373,279

PROVISIONS FOR LIABILITIES 50,664 50,664
NET ASSETS 305,841 322,615

CAPITAL AND RESERVES
Called up share capital 77 77
Profit and loss - Not
distributable 235,738 235,738
Retained earnings 70,026 86,800
SHAREHOLDERS' FUNDS 305,841 322,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

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 notes form part of these financial statements

Page 2 continued...
NORTHLANDS COMMERCIAL LIMITED (REGISTERED NUMBER: 00708579)

BALANCE SHEET - continued
31 DECEMBER 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 September 2017 and were signed on
its behalf by:





Dr K Pettit - Director


The notes form part of these financial statements

Page 3
NORTHLANDS COMMERCIAL LIMITED (REGISTERED NUMBER: 00708579)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016


1. STATUTORY INFORMATION

Northlands Commercial 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

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.

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2016
and 31 December 2016 300,000
NET BOOK VALUE
At 31 December 2016 300,000
At 31 December 2015 300,000

The investment property was valued on an open market basis by the directors.

Page 4 continued...
NORTHLANDS COMMERCIAL LIMITED (REGISTERED NUMBER: 00708579)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 400 1,200

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Taxation and social security 619 4,207
Other creditors 6,114 6,252
6,733 10,459

6. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D G F Young.

7. FIRST YEAR ADOPTION OF FRS 102

Northlands Commercial Limited is required to adopt Financial Reporting Standard 102 for its
accounting period ended 31 December 2016. As the company qualifies as small under the new
thresholds it has chosen to apply Section 1A.

The company's date of transition is 1 January 2015 and as required by FRS 102 it has re-evaluated
reserves at 31 December 2015 and the profit and loss account for the year then ended in accordance
with the new Accounting Regulations. The only change to comparative as a result of the adoption of
FRS102 arises in relation to investment property. Previously, the company did not recognise changes
in value of the investment property. Under FRS102, valuation adjustments are recognised as part of
the profit and loss.

Accordingly, the balance on the non distributable profit and loss at 1 January 2015 is £235,738.
reflecting the increase in value as at that date.

The company has not taken advantage of any transitional reliefs in adopting FRS 102.

Page 5
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NORTHLANDS COMMERCIAL LIMITED


The following reproduces the text of the report prepared for the directors and members 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 Balance Sheet. 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 Northlands Commercial Limited for the year ended 31 December 2016 which
comprise the Income Statement, Balance Sheet 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 Northlands Commercial 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 Northlands Commercial Limited and state those matters that we have agreed to state to the Board of Directors of Northlands Commercial 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 Northlands Commercial Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Northlands Commercial 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 profit of Northlands Commercial Limited. You consider that Northlands Commercial 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 Northlands Commercial 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.






Kelley & Lowe Limited
Gwynfa House
677 Princes Road
Dartford
Kent
DA2 6EF


29 September 2017

This page does not form part of the statutory financial statements

Page 6