REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
for |
Newman Business Solutions Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
for |
Newman Business Solutions Limited |
Newman Business Solutions Limited (Registered number: 01477094) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Newman Business Solutions Limited |
Company Information |
for the Year Ended 28 February 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Thatcher House |
12 Mount Ephraim |
Tunbridge Wells |
Kent |
TN4 8AS |
Newman Business Solutions Limited (Registered number: 01477094) |
Balance Sheet |
28 February 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Newman Business Solutions Limited (Registered number: 01477094) |
Balance Sheet - continued |
28 February 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Newman Business Solutions Limited (Registered number: 01477094) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | STATUTORY INFORMATION |
Newman Business Solutions Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is represented by the sale of goods and services, excluding value added tax. |
GOODWILL |
Goodwill, being the amount paid in connection with the acquisition of businesses in 2000, 2002 and 2003, has been fully amortised over its estimated useful life of three years. |
TANGIBLE FIXED ASSETS |
Plant and machinery | - |
Office Equipment | - |
Motor vehicles | - |
STOCKS |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
HIRE PURCHASE AND LEASING COMMITMENTS |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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. |
Newman Business Solutions Limited (Registered number: 01477094) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
2. | ACCOUNTING POLICIES - continued |
DEFERRED TAX |
Deferred tax is not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date as these are considered immaterial. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 March 2022 |
and 28 February 2023 |
AMORTISATION |
At 1 March 2022 |
and 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Office | Motor |
property | machinery | Equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 March 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 28 February 2023 |
DEPRECIATION |
At 1 March 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
Newman Business Solutions Limited (Registered number: 01477094) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 March 2022 |
Transfer to ownership | (13,680 | ) |
At 28 February 2023 |
DEPRECIATION |
At 1 March 2022 |
Charge for year |
Transfer to ownership | (26,627 | ) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
6. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
2023 | 2022 |
£ | £ |
Newman Computers Ltd (Shares) | 100 | 100 |
Drexsell-Newman Ltd (Shares) | 2 | 2 |
Newman Business Machines (Worthing) Ltd (Shares) | 100 | 100 |
Southern Technical Services Ltd (Shares) | 100 | 100 |
Newman Business Machines & Supplies Ltd (Shares) | 2 | 2 |
Investment HBBM | 187,514 | - |
187,818 | 304 |
Newman Business Solutions Limited (Registered number: 01477094) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
6. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
Newman Business Solutions Limited (Registered number: 01477094) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
6. | FIXED ASSET INVESTMENTS - continued |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2023 |
£ |
Aggregate capital and reserves |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Tax |
Bad Debt Provision | ( |
) | ( |
) |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Corporation tax | ( |
) |
Social security and other tax |
VAT | 97,936 | 107,876 |
Other creditors |
Due to Subsidiary Companies | 50,202 | 202 |
Newman Business Solutions Limited (Registered number: 01477094) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 2-5 years |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
28.02.21 | 29.02.20 |
Number: | Class: | Nominal value: | £ | £ |
1,000 | Ordinary A Shares | £1 | 1,000 | 1,000 |
100 | Ordinary B Shares | £1 | 100 | 100 |
4 | Ordinary C Shares | £1 | 4 | 4 |
1 | Ordinary D Shares | £1 | 1 | 1 |
1 | Ordinary E Shares | £1 | 1 | 1 |
1 | Ordinary F Shares | £1 | 1 | 1 |
A shares have full voting, dividends and winding-up rights. |
Both B & C shares have voting rights only on resolution relating to B & C shares. On winding up, B & C shares are only valued at £1. |
D.E & F shares do not hold any voting rights. |
11. | RELATED PARTY DISCLOSURES |
The Directors received Dividends during the year. |
12. | ULTIMATE CONTROLLING PARTY |
Mr A Deadman is the ultimate controlling party due to his majority shareholding in the company. |