REGISTERED NUMBER: 08767325 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2017

for

NORTHLACE LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Director:

P B Bullock

Registered office:

145-157 St John Street

Clerkenwell

London

EC1V 4PY

Registered number:

08767325 (England and Wales)

Accountants:

Haines Watts (Westbury) LLP

145-157 St John Street

Clerkenwell

London

EC1V 4PY

Fixed assets

Tangible assets

3

628,640

408,121

Current assets

Debtors

4

16,403

14,603

Cash at bank

1,224

135

17,627

14,738

Creditors

Amounts falling due within one year

5

71,578

45,558

Net current liabilities

(53,951

)

(30,820

)

Total assets less current liabilities

574,689

377,301

Creditors

Amounts falling due after more than one year

6

(298,425

)

(298,425

)

Provisions for liabilities

(44,652

)

(9,418

)

Net assets

231,612

69,458

Capital and reserves

Called up share capital

2

2

Retained earnings

231,610

69,456

231,612

69,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director on 20 August 2018 and were signed by:

P B Bullock - Director

1.	Statutory information

Northlace 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 as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 November 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 1 December 2015.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Land & buildings Freehold 2% on buildings only

No depreciation is provided in repect of freehold land.

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.	Tangible fixed assets

Freehold

property

£

Cost or valuation

At 1 December 2016

421,266

Additions

36,700

Revaluations

182,034

At 30 November 2017

640,000

Depreciation

At 1 December 2016

13,145

Charge for year

11,360

Revaluation adjustments

(13,145

)

At 30 November 2017

11,360

Net book value

At 30 November 2017

628,640

At 30 November 2016

408,121

Cost or valuation at 30 November 2017 is represented by:

Freehold

property

£

Valuation in 2017

640,000

4.

Debtors: amounts falling due within one year

2017

2016

£

£

Trade debtors

2,662

2,662

Other debtors

13,741

11,941

16,403

14,603

5.

Creditors: amounts falling due within one year

2017

2016

£

£

Trade creditors

-

5,990

Other creditors

71,578

39,568

71,578

45,558

6.

Creditors: amounts falling due after more than one year

2017

2016

£

£

Other creditors

298,425

298,425

Amounts falling due in more than five years:

Repayable by instalments

Long term loans b/f

298,425

298,425

7.	First year adoption