Registered number
01640212
Newnham Engineering (Plymouth) Limited
Unaudited Filleted Accounts
30 June 2023
Newnham Engineering (Plymouth) Limited
Registered number: 01640212
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 382,920 391,455
Current assets
Stocks 9,600 9,300
Debtors 4 128,038 127,190
Cash at bank and in hand 317,709 300,534
455,347 437,024
Creditors: amounts falling due within one year 5 (628,266) (550,020)
Net current liabilities (172,919) (112,996)
Total assets less current liabilities 210,001 278,459
Provisions for liabilities (2,887) (3,631)
Net assets 207,114 274,828
Capital and reserves
Called up share capital 20 20
Profit and loss account 207,094 274,808
Shareholders' funds 207,114 274,828
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Vincent
Director
Approved by the board on 25 September 2023
Newnham Engineering (Plymouth) Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 512,682 345,394 5,999 864,075
At 30 June 2023 512,682 345,394 5,999 864,075
Depreciation
At 1 July 2022 140,337 328,182 4,101 472,620
Charge for the year 4,618 3,443 474 8,535
At 30 June 2023 144,955 331,625 4,575 481,155
Net book value
At 30 June 2023 367,727 13,769 1,424 382,920
At 30 June 2022 372,345 17,212 1,898 391,455
4 Debtors 2023 2022
£ £
Trade debtors 115,772 120,406
Other debtors 12,266 6,784
128,038 127,190
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 37,625 20,845
Taxation and social security costs 57,782 61,251
Other creditors 532,859 467,924
628,266 550,020
6 Other information
Newnham Engineering (Plymouth) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Galileo Close
Newnham Industrial Estate
Plympton
Plymouth
PL7 4JW
Newnham Engineering (Plymouth) Limited 01640212 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts April 2022 Mr J Vincent No description of principal activity 01640212 2021-07-01 2022-06-30 01640212 core:WithinOneYear 2022-06-30 01640212 core:ShareCapital 2022-06-30 01640212 core:RetainedEarningsAccumulatedLosses 2022-06-30 01640212 2022-07-01 2023-06-30 01640212 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 01640212 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 01640212 bus:Director40 2022-07-01 2023-06-30 01640212 1 2022-07-01 2023-06-30 01640212 2 2022-07-01 2023-06-30 01640212 core:LandBuildings 2022-07-01 2023-06-30 01640212 core:PlantMachinery 2022-07-01 2023-06-30 01640212 core:Vehicles 2022-07-01 2023-06-30 01640212 countries:England 2022-07-01 2023-06-30 01640212 bus:FRS102 2022-07-01 2023-06-30 01640212 bus:FullAccounts 2022-07-01 2023-06-30 01640212 2023-06-30 01640212 core:WithinOneYear 2023-06-30 01640212 core:ShareCapital 2023-06-30 01640212 core:RetainedEarningsAccumulatedLosses 2023-06-30 01640212 core:LandBuildings 2023-06-30 01640212 core:PlantMachinery 2023-06-30 01640212 core:Vehicles 2023-06-30 01640212 2022-06-30 01640212 core:LandBuildings 2022-06-30 01640212 core:PlantMachinery 2022-06-30 01640212 core:Vehicles 2022-06-30 iso4217:GBP xbrli:pure