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Registered number: 04517277
New Tech Lubes Limited
ACCOUNTS
FOR THE YEAR ENDED 30/09/2023
Prepared By:
Lindrick Accountancy Services Ltd
205 Outgang Lane
Dinnington
Sheffield
S25 3QY
New Tech Lubes Limited
ACCOUNTS
FOR THE YEAR ENDED 30/09/2023
DIRECTORS
Andrew Stephen
David Desmond Finch
Laura Thorndyke
REGISTERED OFFICE
Unit 3, Harrison Drive Industrial Estate
Langold
Worksop
Notts
S81 9RL
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 04517277
ACCOUNTANTS
Lindrick Accountancy Services Ltd
205 Outgang Lane
Dinnington
Sheffield
S25 3QY
New Tech Lubes Limited
ACCOUNTS
FOR THEYEARENDED30/09/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
New Tech Lubes Limited
BALANCE SHEET AT 30/09/2023
20232022
Notes££
FIXED ASSETS
Tangible assets324,97836,585
CURRENT ASSETS
Stock119,191111,680
Debtors5190,954145,860
Cash at bank and in hand259,569201,136
569,714458,676
CREDITORS: Amounts falling due within one year6137,998132,887
NET CURRENT ASSETS431,716325,789
TOTAL ASSETS LESS CURRENT LIABILITIES456,694362,374
PROVISIONS FOR LIABILITIES AND CHARGES76,6966,696
NET ASSETS449,998355,678
CAPITAL AND RESERVES
Called up share capital84040
Profit and loss account449,958355,638
SHAREHOLDERS' FUNDS449,998355,678
For the year ending 30/09/2023 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 04/04/2024 and signed on their behalf by
.............................
David Desmond Finch
Director
New Tech Lubes Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/09/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinery 25%
Fixtures and Fittings 25%
Equipment 25%
Motor Cars 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.
New Tech Lubes Limited
2. EMPLOYEES
20232022
No.No.
Average number of employees109
3. TANGIBLE FIXED ASSETS
Plant and
Machinery Etc.Total
££
Cost
At 01/10/2022187,024187,024
Disposals(32,769)(32,769)
At 30/09/2023154,255154,255
Depreciation
At 01/10/2022150,439150,439
Disposals(29,488)(29,488)
For the year8,3268,326
At 30/09/2023129,277129,277
Net Book Amounts
At 30/09/202324,97824,978
At 30/09/202236,58536,585
4. STOCK 20232022
££
Stock comprises:
Stock119,191111,680
119,191111,680
5. DEBTORS 20232022
££
Amounts falling due within one year:
Trade debtors185,430136,641
Other debtors5,5249,219
190,954145,860
New Tech Lubes Limited
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Trade creditors57,24526,577
Taxation and social security73,62945,417
Other creditors7,12457,425
137,998129,419
7. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation6,6966,696
6,6966,696
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
17 Ordinary shares of £1 each1717
17 Class A shares of £1 each1717
2 Class B shares of £1 each22
2 Class C shares of £1 each22
2 Class D shares of £1 each22
4040