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REGISTERED NUMBER: 09146388 (England and Wales)















Financial Statements for the Year Ended 31 December 2021

for

New Era Products Limited

New Era Products Limited (Registered number: 09146388)

Contents of the Financial Statements
for the Year Ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


New Era Products Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: I Biggin





REGISTERED OFFICE: Unit 4
SBC House
Restmor Way
Wallington
Surrey
SM6 7AH





REGISTERED NUMBER: 09146388 (England and Wales)





ACCOUNTANTS: CSL Partnership Limited
Chartered Certified Accountants
238 Station Road
Addlestone
Surrey
KT15 2PS

New Era Products Limited (Registered number: 09146388)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £   
CURRENT ASSETS
Inventories 358,801 147,265
Debtors 5 130,199 90,096
Cash at bank 360,632 137,688
849,632 375,049
CREDITORS
Amounts falling due within one year 6 (424,830 ) (278,256 )
NET CURRENT ASSETS 424,802 96,793
TOTAL ASSETS LESS CURRENT LIABILITIES 424,802 96,793

CREDITORS
Amounts falling due after more than one
year

7

(23,917

)

(30,917

)
NET ASSETS 400,885 65,876

CAPITAL AND RESERVES
Called up share capital 2,001 2,001
Retained earnings 398,884 63,875
400,885 65,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 5 September 2022 and were signed by:




I Biggin - Director


New Era Products Limited (Registered number: 09146388)

Notes to the Financial Statements
for the Year Ended 31 December 2021


1. STATUTORY INFORMATION

New Era Products 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.

Revenue
Revenue is measured at fair value and represents revenues receivable under contracts net of value added tax. Where contractual obligations have been partially performed at the balance sheet date, revenue is recognised to the extent that the company has obtained the right to consideration through its performance.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

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.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

New Era Products Limited (Registered number: 09146388)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 20,921
AMORTISATION
At 1 January 2021
and 31 December 2021 20,921
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 130,199 77,854
Other debtors - 1,463
VAT - 7,602
Prepayments - 3,177
130,199 90,096

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 7,000 4,083
Trade creditors 241,658 177,192
Tax 79,263 17,940
Social security and other taxes 6,376 3,853
Pensions creditor - 5,000
VAT 39,595 -
Other creditors 40,188 58,188
Directors' current accounts 7,000 7,000
Accrued expenses 3,750 5,000
424,830 278,256

New Era Products Limited (Registered number: 09146388)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans - 1-2 years 7,000 7,000
Bank loans - 2-5 years 16,917 23,917
23,917 30,917

8. RELATED PARTY DISCLOSURES

At the year end the director was owed £7,000 (2020- £7,000) in respect of his director's loan accounts. The loan is interest free and repayable on demand.