Registered number
05142751
Newmark Limited
Filleted Accounts
31 May 2023
Newmark Limited
Registered number: 05142751
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 70,069 87,585
Current assets
Stocks 515,000 575,000
Debtors 4 445,869 346,433
Cash at bank and in hand 9,863 -
970,732 921,433
Creditors: amounts falling due within one year 5 (543,211) (609,130)
Net current assets 427,521 312,303
Total assets less current liabilities 497,590 399,888
Creditors: amounts falling due after more than one year 6 (30,748) (40,432)
Net assets 466,842 359,456
Capital and reserves
Called up share capital 150 5
Profit and loss account 466,692 359,451
Shareholders' funds 466,842 359,456
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.
Huseyin Dag
Director
Approved by the board on 16 October 2023
Newmark Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
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
Leasehold land and buildings over the lease term
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 15 15
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 114,425 184,692 299,117
At 31 May 2023 114,425 184,692 299,117
Depreciation
At 1 June 2022 92,259 119,273 211,532
Charge for the year 4,432 13,084 17,516
At 31 May 2023 96,691 132,357 229,048
Net book value
At 31 May 2023 17,734 52,335 70,069
At 31 May 2022 22,166 65,419 87,585
4 Debtors 2023 2022
£ £
Trade debtors 398,304 310,783
Other debtors 47,565 35,650
445,869 346,433
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 46,461 92,410
Trade creditors 240,139 263,017
Corporation tax 32,184 31,933
Other taxes and social security costs 45,117 29,485
Other creditors 179,310 192,285
543,211 609,130
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,748 40,494
Obligations under finance lease and hire purchase contracts - (62)
30,748 40,432
7 Controlling party
Huseyin Dag , company directors controls the company by virtue of holding 50% of the issued share capital for each, holding 50 Ordinary Shares. There is other shareholders with with following shares :

Rahime Dag 30 Ordinary Share - 30%
Orhan Dag 20 Ordinary Share - 20%
Hobby Home London Limited 50B Ordinary Shares - (Only Dividend Rights)
8 Other information
Newmark Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Clock House Parade
North Circular Road
London
N13 6BG
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