REGISTERED NUMBER: |
Newton Bright Ltd |
Financial Statements for the Year Ended 31st August 2023 |
REGISTERED NUMBER: |
Newton Bright Ltd |
Financial Statements for the Year Ended 31st August 2023 |
Newton Bright Ltd (Registered number: 12171739) |
Contents of the Financial Statements |
for the Year Ended 31st August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Newton Bright Ltd |
Company Information |
for the Year Ended 31st August 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Engine House |
77 Station Road |
Petersfield |
Hampshire |
GU32 3FQ |
Newton Bright Ltd (Registered number: 12171739) |
Balance Sheet |
31st August 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
Newton Bright Ltd (Registered number: 12171739) |
Balance Sheet - continued |
31st August 2023 |
2023 | 2022 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Newton Bright Ltd (Registered number: 12171739) |
Notes to the Financial Statements |
for the Year Ended 31st August 2023 |
1. | STATEMENT OF COMPLIANCE |
Newton Bright Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Windsor House, Bayshill Road, Cheltenham, Gloucestershire, GL50 3AT. The registration number is 12171739. |
The financial statements are presented in sterling, the functional currency of the company, and rounded to the nearest pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
The financial statements have been prepared under the historical convention. |
The financial statements have been prepared on the going concern basis as the director has confirmed he will continue to provide the financial and other support required by the company. |
Turnover |
Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes for the provision of education services. |
Goodwill |
Goodwill, being the amount of estimated consideration for the acquisition of the trade in 2019, is being amortised over its estimated useful life of 4 years. |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. |
Cash and cash equivalents |
These comprise cash at bank and other short term liquid investments. |
Debtors |
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Newton Bright Ltd (Registered number: 12171739) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Newton Bright Ltd (Registered number: 12171739) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st September 2022 |
Disposals | ( |
) |
At 31st August 2023 |
AMORTISATION |
At 1st September 2022 |
Eliminated on disposal | ( |
) |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st September 2022 |
Additions |
At 31st August 2023 |
DEPRECIATION |
At 1st September 2022 |
Charge for year |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
Newton Bright Ltd (Registered number: 12171739) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Tax |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Other creditors |
Accruals and deferred income |
A bounce back loan totalling £29,929 (2022:£40,493) is 100% secured by the government. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank Loan > 1 year | 20,752 | 30,746 |
Other creditors |
9. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Share capital 1 | 1 | 100 | 100 |
These shares are unpaid as at 31st August 2023. |
Newton Bright Ltd (Registered number: 12171739) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2023 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1st September 2022 | ( |
) |
Profit for the year |
At 31st August 2023 | ( |
) |
11. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |