1 June 2022 v2024.5.2 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activity0falsetruexbrli:purexbrli:sharesiso4217:GBP120175092022-06-012023-05-31120175092023-05-31120175092022-05-3112017509core:WithinOneYear2023-05-3112017509core:WithinOneYear2022-05-3112017509core:ShareCapital2023-05-3112017509core:ShareCapital2022-05-3112017509bus:Director12022-06-012023-05-3112017509bus:RegisteredOffice2022-06-012023-05-3112017509core:CostValuation2022-06-0112017509core:AdditionsToInvestments2023-05-3112017509core:CostValuation2023-05-311201750912022-06-012023-05-31120175092021-06-012022-05-3112017509countries:EnglandWales2022-06-012023-05-3112017509bus:AuditExempt-NoAccountantsReport2022-06-012023-05-3112017509bus:PrivateLimitedCompanyLtd2022-06-012023-05-3112017509bus:SmallEntities2022-06-012023-05-3112017509bus:FullAccounts2022-06-012023-05-31
Company registration number:
12017509
NewmannetIT Limited
Unaudited Filleted Financial Statements for the year ended
31 May 2023
NewmannetIT Limited
Statement of Financial Position
31 May 2023
20232022
Note££
Fixed assets    
Investments 5
33,327
 
25,867
 
Current assets    
Debtors 6
3,020
  -  
Cash at bank and in hand
141
 
253
 
3,161
 
253
 
Creditors: amounts falling due within one year 7
(36,483
)
(26,115
)
Net current liabilities
(33,322
)
(25,862
)
Total assets less current liabilities 5   5  
Capital and reserves    
Called up share capital
5
 
5
 
Profit and loss account -   -  
Shareholders funds
5
 
5
 
For the year ending
31 May 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • 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;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
23 February 2024
, and are signed on behalf of the board by:
Mr J Newman
Director
Company registration number:
12017509
NewmannetIT Limited
Notes to the Financial Statements
Year ended
31 May 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Bramhall House, 14 Ack Lane East
,
Bramhall
,
Stockport
,
SK7 2BY
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2022: nil).

5 Investments

Other investments
£
Cost  
At
1 June 2022
25,867
 
Additions
7,460
 
At
31 May 2023
33,327
 
Impairment  
At
1 June 2022
and
31 May 2023
-  
Carrying amount  
At
31 May 2023
33,327
 
At 31 May 2022
25,867
 

6 Debtors

20232022
££
Other debtors
3,020
  -  

7 Creditors: amounts falling due within one year

20232022
££
Taxation and social security
36,483
 
23,581
 
Other creditors -  
2,534
 
36,483
 
26,115
 

8 Director's advances, credit and guarantees

During the period under review, NewmannetIT Limited made an unsecured, interest free loan to Mr J Newman. The sum of the loan at the reporting period was £3,020. The loan is repayable on demand and in full.