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REGISTERED NUMBER: 04836632 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Newark Interiors Limited

Newark Interiors Limited (Registered number: 04836632)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Newark Interiors Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J O Hemmings
Miss D V Forsey





REGISTERED OFFICE: 6 London Road
Newark
Nottinghamshire
NG24 1TW





REGISTERED NUMBER: 04836632 (England and Wales)





ACCOUNTANTS: Bostockwhite Limited
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ

Newark Interiors Limited (Registered number: 04836632)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 131,660 49,458
131,660 49,458

CURRENT ASSETS
Stocks 63,258 69,580
Debtors 6 153,060 145,551
Cash at bank and in hand 103,380 219,946
319,698 435,077
CREDITORS
Amounts falling due within one year 7 221,549 373,207
NET CURRENT ASSETS 98,149 61,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

229,809

111,328

CREDITORS
Amounts falling due after more than one year 8 (35,823 ) -

PROVISIONS FOR LIABILITIES (27,007 ) (4,857 )
NET ASSETS 166,979 106,471

CAPITAL AND RESERVES
Called up share capital 1,125 1,125
Retained earnings 165,854 105,346
SHAREHOLDERS' FUNDS 166,979 106,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Newark Interiors Limited (Registered number: 04836632)

Balance Sheet - continued
31 December 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by:





Miss D V Forsey - Director


Newark Interiors Limited (Registered number: 04836632)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Newark Interiors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Website development - 20% on cost
Fixtures and fittings - 33% on cost and 15% on cost
Motor vehicles - 25% on cost

Tangible fixed assets are initially recognised at cost which is the purchase price plus any directly attributable costs. Subsequently, tangible fixed assets are measured at cost less accumulated depreciation and impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Newark Interiors Limited (Registered number: 04836632)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 16 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 47,000
AMORTISATION
At 1 January 2023
and 31 December 2023 47,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Newark Interiors Limited (Registered number: 04836632)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Website Plant and and
development machinery fittings
£    £    £   
COST
At 1 January 2023 19,100 58,736 7,038
Additions - 31,200 -
Disposals - - -
At 31 December 2023 19,100 89,936 7,038
DEPRECIATION
At 1 January 2023 19,100 21,193 7,038
Charge for year - 8,261 -
Eliminated on disposal - - -
At 31 December 2023 19,100 29,454 7,038
NET BOOK VALUE
At 31 December 2023 - 60,482 -
At 31 December 2022 - 37,543 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 87,215 15,665 187,754
Additions 67,090 - 98,290
Disposals (19,299 ) - (19,299 )
At 31 December 2023 135,006 15,665 266,745
DEPRECIATION
At 1 January 2023 76,832 14,133 138,296
Charge for year 6,693 1,134 16,088
Eliminated on disposal (19,299 ) - (19,299 )
At 31 December 2023 64,226 15,267 135,085
NET BOOK VALUE
At 31 December 2023 70,780 398 131,660
At 31 December 2022 10,383 1,532 49,458

Newark Interiors Limited (Registered number: 04836632)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 31,909 35,336
Other debtors 121,151 110,215
153,060 145,551

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 4,831 15,625
Hire purchase contracts 17,682 -
Trade creditors 132,353 259,666
Taxation and social security 22,986 19,446
Other creditors 43,697 78,470
221,549 373,207

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 35,823 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 53,505 -

The hire purchase debts are secured over the assets to which the debts relate.