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REGISTERED NUMBER: 09011514 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

NEW FOREST METALWORK LIMITED

NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Balance sheet 1

Notes to the financial statements 3


NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 2,000 4,000
Tangible assets 5 47,560 33,305
49,560 37,305

Current assets
Stocks 17,233 16,675
Debtors 6 40,212 53,050
Cash at bank 196,983 110,750
254,428 180,475
Creditors
Amounts falling due within one year 7 112,937 65,457
Net current assets 141,491 115,018
Total assets less current liabilities 191,051 152,323

Creditors
Amounts falling due after more than one year 8 - (1,594 )

Provisions for liabilities 9 (6,566 ) (3,067 )
Net assets 184,485 147,662

Capital and reserves
Called up share capital 10 100 100
Retained earnings 184,385 147,562
Shareholders' funds 184,485 147,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

BALANCE SHEET - continued
30 APRIL 2023


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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:




Mr S Wallis - Director



Mrs L Wallis - Director


NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. Statutory information

New Forest Metalwork Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09011514. The registered office and business address is The Barn, Snails Lane, Blashford, Ringwood, Hampshire, BH24 3PG.

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 represents amounts receivable, excluding value added tax, in respect of services provided in the ordinary course of business. Turnover is recognised as soon as the service has been provided to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 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.

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.

NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. Accounting policies - continued

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 9 (2022 - 9 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 May 2022
and 30 April 2023 20,000
Amortisation
At 1 May 2022 16,000
Charge for year 2,000
At 30 April 2023 18,000
Net book value
At 30 April 2023 2,000
At 30 April 2022 4,000

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 May 2022 23,457 648 62,357 6,313 92,775
Additions 377 - 28,583 - 28,960
Disposals - - (10,864 ) - (10,864 )
At 30 April 2023 23,834 648 80,076 6,313 110,871
Depreciation
At 1 May 2022 18,500 561 35,138 5,271 59,470
Charge for year 1,334 22 11,005 521 12,882
Eliminated on disposal - - (9,041 ) - (9,041 )
At 30 April 2023 19,834 583 37,102 5,792 63,311
Net book value
At 30 April 2023 4,000 65 42,974 521 47,560
At 30 April 2022 4,957 87 27,219 1,042 33,305

NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
Cost
At 1 May 2022
and 30 April 2023 25,495
Depreciation
At 1 May 2022 8,330
Charge for year 4,165
At 30 April 2023 12,495
Net book value
At 30 April 2023 13,000
At 30 April 2022 17,165

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 25,414 42,141
Other debtors 7,982 5,027
Prepayments 6,816 5,882
40,212 53,050

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Finance leases 1,594 1,519
Trade creditors 21,840 31,367
Tax 15,951 1,866
Social security and other taxes 3,560 3,031
Pension 1,182 733
VAT 15,692 18,487
Other creditors 2,572 -
Directors' current accounts 38,962 734
Accruals and deferred income 11,584 7,720
112,937 65,457

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Finance leases - 1,594

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax 6,566 3,067

NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


9. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 May 2022 3,067
Provided during year 3,499
Balance at 30 April 2023 6,566

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 100

11. Ultimate controlling party

The company is controlled by its directors, Mr and Mrs Wallis, who each own 50% of the issued share capital.