Registered number
04131551
NEWROSE PERSONNEL LIMITED
Filleted Accounts
31 May 2023
NEWROSE PERSONNEL LIMITED
Registered number: 04131551
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 34,269 45,511
Current assets
Debtors 4 255,481 278,527
Cash at bank and in hand 234,013 271,918
489,494 550,445
Creditors: amounts falling due within one year 5 (137,628) (190,406)
Net current assets 351,866 360,039
Total assets less current liabilities 386,135 405,550
Creditors: amounts falling due after more than one year 6 (36,304) (42,854)
Provisions for liabilities (8,567) (8,647)
Net assets 341,264 354,049
Capital and reserves
Called up share capital 100 100
Profit and loss account 341,164 353,949
Shareholder's funds 341,264 354,049
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M J Rose
Director
Approved by the board on 19 February 2024
NEWROSE PERSONNEL LIMITED
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 15-25% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 21
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 27,233 70,448 97,681
At 31 May 2023 27,233 70,448 97,681
Depreciation
At 1 June 2022 21,349 30,821 52,170
Charge for the year 1,335 9,907 11,242
At 31 May 2023 22,684 40,728 63,412
Net book value
At 31 May 2023 4,549 29,720 34,269
At 31 May 2022 5,884 39,627 45,511
4 Debtors 2023 2022
£ £
Trade debtors - 432
Amounts owed by group undertakings and undertakings in which the company has a participating interest 250,000 260,000
Other debtors 5,481 18,095
255,481 278,527
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 6,549 6,549
Trade creditors 53,847 77,096
Taxation and social security costs 34,859 56,773
Other creditors 42,373 49,988
137,628 190,406
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 36,304 42,854
7 Controlling party
The company is owned and controlled by the director.
8 Other information
NEWROSE PERSONNEL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Laurel Bank
Main Road
East Morton
West Yorkshire
BD20 5TE
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