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REGISTERED NUMBER: 01477094 (England and Wales)










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: Mrs M.P. Deadman
A.P. Deadman
J.S. McCarthy





SECRETARY: Mrs M.P. Deadman





REGISTERED OFFICE: Newman House
Farningham Road
Crowborough
East Sussex
TN6 2JR





REGISTERED NUMBER: 01477094 (England and Wales)





ACCOUNTANTS: Ward Mackenzie Ltd
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 5 705,524 730,900
Investments 6 187,818 304
893,342 731,204

CURRENT ASSETS
Stocks 276,730 312,278
Debtors 7 550,559 540,962
Cash at bank and in hand 116,243 261,952
943,532 1,115,192
CREDITORS
Amounts falling due within one year 8 (587,405 ) (465,831 )
NET CURRENT ASSETS 356,127 649,361
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,249,469

1,380,565

CREDITORS
Amounts falling due after more than one year 9 (34,022 ) (43,689 )
NET ASSETS 1,215,447 1,336,876

CAPITAL AND RESERVES
Called up share capital 10 1,107 1,107
Retained earnings 1,214,340 1,335,769
SHAREHOLDERS' FUNDS 1,215,447 1,336,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Newman Business Solutions Limited (Registered number: 01477094)

Balance Sheet - continued
28 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:





A.P. Deadman - Director


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 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.

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 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
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 - 33% on cost and 10% on cost
Office Equipment - 25% on cost and 10% on cost
Motor vehicles - 16.6% 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.

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 44 (2022 - 43 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 85,607
AMORTISATION
At 1 March 2022
and 28 February 2023 85,607
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 619,037 21,957 580,540 194,053 1,415,587
Additions - - 30,421 - 30,421
Disposals - - (7,017 ) (45,431 ) (52,448 )
At 28 February 2023 619,037 21,957 603,944 148,622 1,393,560
DEPRECIATION
At 1 March 2022 - 21,863 520,039 142,785 684,687
Charge for year - 94 37,893 17,810 55,797
Eliminated on disposal - - (7,017 ) (45,431 ) (52,448 )
At 28 February 2023 - 21,957 550,915 115,164 688,036
NET BOOK VALUE
At 28 February 2023 619,037 - 53,029 33,458 705,524
At 28 February 2022 619,037 94 60,501 51,268 730,900

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 69,764
Transfer to ownership (13,680 )
At 28 February 2023 56,084
DEPRECIATION
At 1 March 2022 28,936
Charge for year 11,630
Transfer to ownership (26,627 )
At 28 February 2023 13,939
NET BOOK VALUE
At 28 February 2023 42,145
At 28 February 2022 40,828

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:

Newman Computers Limited
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (30,481 ) (30,481 )

Drexsell-Newman Limited
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 2 2

Newman Business Machines (Worthing) Limited
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 100 100

Southern Technical Services Limited
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 100 100

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

Newman Business Machines & Supplies Ltd
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 2 2

HBBM Limited
Registered office:
Nature of business: Trading
%
Class of shares: holding
Ordinary share
2023
£   
Aggregate capital and reserves 152,339

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 540,626 530,506
Other debtors 3 3
Tax 8,122 -
Bad Debt Provision (6,877 ) (6,877 )
Prepayments 8,685 17,330
550,559 540,962

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 12,914
Trade creditors 184,452 130,132
Corporation tax (5,990 ) 44,227
Social security and other tax 60,440 58,645
VAT 97,936 107,876
Other creditors 200,365 111,835
Due to Subsidiary Companies 50,202 202
587,405 465,831

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 34,022 43,689

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.