IRIS Accounts Production v23.2.0.158 09436436 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094364362022-03-31094364362023-03-31094364362022-04-012023-03-31094364362021-03-31094364362021-04-012022-03-31094364362022-03-3109436436ns10:Originalns15:EnglandWales2022-04-012023-03-3109436436ns14:PoundSterlingns10:Original2022-04-012023-03-3109436436ns10:Originalns10:Director12022-04-012023-03-3109436436ns10:Original2022-04-012023-03-3109436436ns10:Original2023-03-3109436436ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3109436436ns10:Originalns10:SmallEntities2022-04-012023-03-3109436436ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3109436436ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3109436436ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3109436436ns10:Originalns10:FullAccounts2022-04-012023-03-3109436436ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3109436436ns10:Originalns10:Director22022-04-012023-03-3109436436ns10:Originalns10:RegisteredOffice2022-04-012023-03-3109436436ns10:Original2022-03-3109436436ns10:Originalns5:CurrentFinancialInstruments2023-03-3109436436ns10:Originalns5:CurrentFinancialInstruments2022-03-3109436436ns10:Originalns5:Non-currentFinancialInstruments2023-03-3109436436ns10:Originalns5:Non-currentFinancialInstruments2022-03-3109436436ns5:ShareCapitalns10:Original2023-03-3109436436ns5:ShareCapitalns10:Original2022-03-3109436436ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3109436436ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3109436436ns10:Original2021-04-012022-03-3109436436ns10:Originalns5:FurnitureFittings2022-03-3109436436ns10:Originalns5:FurnitureFittings2023-03-3109436436ns10:Originalns5:FurnitureFittings2022-03-3109436436ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3109436436ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3109436436ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-03-3109436436ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3109436436ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-03-3109436436ns10:Originalns10:OrdinaryShareClass12023-03-3109436436ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3109436436ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 09436436 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Newlands Motor Company Ltd

Newlands Motor Company Ltd (Registered number: 09436436)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Newlands Motor Company Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr A B Potts
Mrs A J Potts





REGISTERED OFFICE: Unit 7
Mulberry Place
Pinnell Road
Eltham
London
SE9 6AR





REGISTERED NUMBER: 09436436 (England and Wales)





ACCOUNTANTS: Nichols & Co ( Accountancy ) Limited
Chartered Accountants
Unit 7
Mulberry Place
Pinnell Road
Eltham
London
SE9 6AR

Newlands Motor Company Ltd (Registered number: 09436436)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £ £
CURRENT ASSETS
Stocks 175,935 229,628
Debtors 5 35,359 28,331
211,294 257,959
CREDITORS
Amounts falling due within one year 6 (80,719 ) (143,223 )
NET CURRENT ASSETS 130,575 114,736
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,575

114,736

CREDITORS
Amounts falling due after more than one
year

7

(24,167

)

(34,167

)
NET ASSETS 106,408 80,569

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 106,406 80,567
SHAREHOLDERS' FUNDS 106,408 80,569

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 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 Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:




Mr A B Potts - Director


Newlands Motor Company Ltd (Registered number: 09436436)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Newlands Motor Company 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

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.

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 each asset over its estimated useful life.

Computer equipment 33% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance

STOCKS
Stocks 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
Contributions to defined contribution plans are expensed in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Newlands Motor Company Ltd (Registered number: 09436436)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 April 2022
and 31 March 2023 5,707
DEPRECIATION
At 1 April 2022
and 31 March 2023 5,707
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Trade debtors 30,925 24,040
Prepayments and accrued income 4,434 4,291
35,359 28,331

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Bank loans and overdrafts (see note 8) 2,715 24,254
Other loans (see note 8) 10,000 10,000
Trade creditors - 12,649
Corporation tax 12,277 5,948
Social security and other taxes 1,042 1,021
VAT 9,004 7,077
Other creditors - 1,042
Directors' current accounts 32,418 66,066
Accruals and deferred income 13,263 15,166
80,719 143,223

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£ £
Other loans (see note 8) 24,167 34,167

Newlands Motor Company Ltd (Registered number: 09436436)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£ £
Amounts falling due within one year or on demand:
Bank overdrafts 2,715 24,254
Government loan < 1 year 10,000 10,000
12,715 34,254

Amounts falling due between one and two years:
Government loan - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Government loan - 2-5 years 14,167 24,167

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £ £
2 Ordinary £1 2 2

10. RESERVES
Retained
earnings
£

At 1 April 2022 80,567
Profit for the year 52,339
Dividends (26,500 )
At 31 March 2023 106,406

11. RELATED PARTY DISCLOSURES

Included in creditors falling due within one year is an amount owed to the directors totalling £32,418 (2022: £66,066), representing the balance of the trade and business assets introduced to the company from Newlands Motor Company, an unincorporated partnership established in 1997. Mr A B Potts, a director of the company, was formerly a partner in Newlands Motor Company.

The directors have provided personal guarantees totalling £50,000 in connection with the company's banking facilities.

12. CONTROLLING PARTY

The company is controlled by its directors.