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REGISTERED NUMBER: 00545271 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

NEWMONT ENGINEERING COMPANY LIMITED

NEWMONT ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00545271)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWMONT ENGINEERING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: R G Chand



SECRETARY: S Gaddu



REGISTERED OFFICE: 7 Fleming Way
Isleworth
TW7 6EU



REGISTERED NUMBER: 00545271 (England and Wales)



ACCOUNTANTS: Armstrongs
Chartered Accountants and Tax Advisers
1&2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX



BANKERS: HSBC Bank Plc
46 The Broadway
Ealing
London
W5 5JR

NEWMONT ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00545271)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,263 84,973

CURRENT ASSETS
Stocks 801,646 405,453
Debtors 5 662,778 418,296
Cash at bank 74,111 48,143
1,538,535 871,892
CREDITORS
Amounts falling due within one year 6 782,361 431,565
NET CURRENT ASSETS 756,174 440,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

786,437

525,300

CREDITORS
Amounts falling due after more than one
year

7

62,874

178,383
NET ASSETS 723,563 346,917

CAPITAL AND RESERVES
Called up share capital 10 66,000 66,000
Capital redemption reserve 11 40,000 40,000
Retained earnings 11 617,563 240,917
SHAREHOLDERS' FUNDS 723,563 346,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NEWMONT ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00545271)

BALANCE SHEET - continued
31 DECEMBER 2022


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 director and authorised for issue on 19 October 2023 and were signed by:





R G Chand - Director


NEWMONT ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00545271)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Newmont Engineering Company Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 20% on cost
Computer equipment - 33% on cost

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.

Deferred tax
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

NEWMONT ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00545271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2021 - 21 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2022 2,589,694 105,981 2,695,675
Additions - 2,937 2,937
At 31 December 2022 2,589,694 108,918 2,698,612
DEPRECIATION
At 1 January 2022 2,506,637 104,065 2,610,702
Charge for year 55,224 2,423 57,647
At 31 December 2022 2,561,861 106,488 2,668,349
NET BOOK VALUE
At 31 December 2022 27,833 2,430 30,263
At 31 December 2021 83,057 1,916 84,973

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 492,157 285,887
Other debtors 170,621 132,409
662,778 418,296

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 83,333 83,333
Hire purchase contracts (see note 8) 32,205 39,801
Trade creditors 246,726 111,970
Amounts owed to group undertakings 187,250 56,250
Taxation and social security 132,834 40,265
Other creditors 100,013 99,946
782,361 431,565

NEWMONT ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00545271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 62,874 146,207
Hire purchase contracts (see note 8) - 32,176
62,874 178,383

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year 32,205 39,801
Between one and five years - 32,176
32,205 71,977

Non-cancellable operating leases
2022 2021
£    £   
Within one year 75,000 14,167
Between one and five years 300,000 325,833
375,000 340,000

9. SECURED DEBTS

The bank loans are secured through a fixed and floating charge over all the assets of the Company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
66,000 Ordinary 1 66,000 66,000

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2022 240,917 40,000 280,917
Profit for the year 376,646 376,646
At 31 December 2022 617,563 40,000 657,563

NEWMONT ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00545271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

12. RELATED PARTY DISCLOSURES

During the period, rent of £12,109 was payable to the former directors either directly or through a business in which one of the former directors is principal.
The amount owing to the current director in respect of loans outstanding at 31st December 2022 was £75,000 (£75,000 at 31/12/22).

13. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Ci-Tdc Limited and the ultimate controlling party is R G Chand