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Company Registration No. 13350681 (England and Wales)
Newgate Civil Engineering Ltd Unaudited accounts for the year ended 31 March 2023
Newgate Civil Engineering Ltd Unaudited accounts Contents
Page
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Newgate Civil Engineering Ltd Company Information for the year ended 31 March 2023
Directors
Kelvin John Page Nigel Robinson-Hutchinson
Company Number
13350681 (England and Wales)
Registered Office
Rowan Tree Farm Blackwell Hall Lane, Ley Hill Chesham HP5 1UN
Accountants
GO4 Accountancy Solutions Ltd 12 Saxon Court High Street Iver Bucks SL0 9PW
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Newgate Civil Engineering Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
140,092 
41,789 
Current assets
Inventories
15,000 
4,851 
Debtors
222,462 
210,610 
Cash at bank and in hand
83,819 
105,843 
321,281 
321,304 
Creditors: amounts falling due within one year
(389,319)
(350,605)
Net current liabilities
(68,038)
(29,301)
Total assets less current liabilities
72,054 
12,488 
Creditors: amounts falling due after more than one year
(32,204)
2,743 
Provisions for liabilities
Deferred tax
(26,403)
(5,115)
Net assets
13,447 
10,116 
Capital and reserves
Called up share capital
90 
100 
Profit and loss account
13,357 
10,016 
Shareholders' funds
13,447 
10,116 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2023 and were signed on its behalf by
Kelvin John Page Director Company Registration No. 13350681
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Newgate Civil Engineering Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Newgate Civil Engineering Ltd is a private company, limited by shares, registered in England and Wales, registration number 13350681. The registered office is Rowan Tree Farm, Blackwell Hall Lane, Ley Hill, Chesham, HP5 1UN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completing of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably - it is probable that the Company will receive the consideration due under the contract - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the cost incurred and the cost to complete the contract can be measured reliably.
Interest income
Interest income is recognised in profit or loss using the effective interest method.
Finance cost
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Presentation currency
The accounts are presented in £ sterling.
Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Newgate Civil Engineering Ltd Notes to the Accounts for the year ended 31 March 2023
Pensions
The Company operates a defined contrinution plan for its employees. A defines contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly inequity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that: - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available from them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets and depreciation
Tabgible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their residual value over their estimated useful lives, on a reducing balance basis and on cost. Depreciation is provided on the following basis:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Computer equipment
33% on cost
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction cost, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Newgate Civil Engineering Ltd Notes to the Accounts for the year ended 31 March 2023
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance sheet.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary share. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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Newgate Civil Engineering Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2022
13,734 
15,316 
13,699 
4,818 
47,567 
Additions
- 
3,905 
134,244 
1,500 
139,649 
Disposals
(13,734)
- 
- 
- 
(13,734)
At 31 March 2023
- 
19,221 
147,943 
6,318 
173,482 
Depreciation
At 1 April 2022
- 
1,888 
2,284 
1,606 
5,778 
Charge for the year
- 
4,032 
21,474 
2,106 
27,612 
At 31 March 2023
- 
5,920 
23,758 
3,712 
33,390 
Net book value
At 31 March 2023
- 
13,301 
124,185 
2,606 
140,092 
At 31 March 2022
13,734 
13,428 
11,415 
3,212 
41,789 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
25,599 
29,063 
Trade debtors
156,042 
118,876 
Accrued income and prepayments
28,084 
58,921 
Other debtors
12,737 
3,750 
222,462 
210,610 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
43,463 
- 
Trade creditors
328,571 
19,030 
Taxes and social security
(19,825)
2,464 
Other creditors
37,200 
320,892 
Loans from directors
(90)
(100)
Accruals
- 
8,319 
389,319 
350,605 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
32,204 
- 
Taxes and social security
- 
(2,743)
32,204 
(2,743)
8
Transactions with related parties
At the balance sheet date the company owed £320,891.50 to companies under common control.
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Newgate Civil Engineering Ltd Notes to the Accounts for the year ended 31 March 2023
9
Average number of employees
During the year the average number of employees was 2 (2022: 1).
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