NEWDALE LIMITED

Company Registration Number:
NI018978 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

NEWDALE LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

NEWDALE LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 1,749,300 1,815,201
Total fixed assets: 1,749,300 1,815,201
Current assets
Debtors:   5,500 5,500
Cash at bank and in hand: 519 1,198
Total current assets: 6,019 6,698
Creditors: amounts falling due within one year:   (899,996) (917,327)
Net current assets (liabilities): (893,977) (910,629)
Total assets less current liabilities: 855,323 904,572
Creditors: amounts falling due after more than one year:   (298,395) (400,029)
Total net assets (liabilities): 556,928 504,543
Capital and reserves
Called up share capital: 75 75
Profit and loss account: 556,853 504,468
Shareholders funds: 556,928 504,543

The notes form part of these financial statements

NEWDALE LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 December 2023
and signed on behalf of the board by:

Name: Robert O'Hare
Status: Director

The notes form part of these financial statements

NEWDALE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoice value of goods supplied by the company exclusive of trade discounts and value added tax.

Tangible fixed assets and depreciation policy

Tangible assets are stated at cost or at valuation less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets less their estimated residual value over their expected useful lives. Land and buildings freehold two percent straight line. Plant and machinery twenty percent reducing balance.The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Other accounting policies

Trade and other debtorsTrade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.Borrowing costsBorrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.Trade and other creditorsTrade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial in which case they are stated at cost.TaxationCurrent tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.Ordinary share capitalThe ordinary share capital of the company is presented as equity.

NEWDALE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

NEWDALE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 3,326,217
Additions 617
At 31 March 2023 3,326,834
Depreciation
At 01 April 2022 1,511,016
Charge for year 66,518
At 31 March 2023 1,577,534
Net book value
At 31 March 2023 1,749,300
At 31 March 2022 1,815,201