Company registration number 02206950 (England and Wales)
NEWMANS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
NEWMANS LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 5
NEWMANS LIMITED
COMPANY INFORMATION
- 1 -
Director
A Hope
Company number
02206950
Registered office
First Floor Offices, Unit C Stowe Court
Stowe Street
Lichfield
England
WS13 6AQ
Accountants
Haslehursts Limited
88 Hill Village Road
Four Oaks
Sutton Coldfield
West Midlands
B75 5BE
NEWMANS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,224
10,232
Current assets
Stocks
-
400
Debtors
4
13,640
31,497
Cash at bank and in hand
43,156
35,808
56,796
67,705
Creditors: amounts falling due within one year
5
(21,661)
(29,279)
Net current assets
35,135
38,426
Total assets less current liabilities
42,359
48,658
Provisions for liabilities
7
(1,373)
(1,944)
Net assets
40,986
46,714
Capital and reserves
Called up share capital
6
1,000
1,000
Profit and loss reserves
39,986
45,714
Total equity
40,986
46,714
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 24 November 2023
A Hope
Director
Company registration number 02206950 (England and Wales)
NEWMANS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Newmans Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor Offices, Unit C Stowe Court, Stowe Street, Lichfield, England, WS13 6AQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
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 equipment
20% on cost
1.4
Stocks
Stocks are valued at the lower of costs and net realisable value, after making due allowance obsolete and slow moving items
1.5
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 direct equity.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have enacted or substantively enacted by the balance sheet date.
NEWMANS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.
Timing difference arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statement. Deferred tax is measured using tax rates and law that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that us probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.6
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 and loss in the period to which they relate
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
242,795
Additions
741
At 31 March 2023
243,536
Depreciation and impairment
At 1 April 2022
232,563
Depreciation charged in the year
3,749
At 31 March 2023
236,312
Carrying amount
At 31 March 2023
7,224
At 31 March 2022
10,232
NEWMANS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
12,738
30,630
Other debtors
902
867
13,640
31,497
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
626
4,517
Corporation tax
6,525
7,517
Other taxation and social security
8,016
10,915
Other creditors
6,494
6,330
21,661
29,279
6
Called up share capital
Nominal Value
2023
2022
Alloted,
£
£
Number:
Class:
1,000
Ordinary
£1
1,000
1,000
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
1,373
1,944