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Company Registration No. 12087089 (England and Wales)
Newbold Spirit Co. Limited Unaudited accounts for the year ended 31 July 2023
Newbold Spirit Co. Limited Unaudited accounts Contents
Page
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Newbold Spirit Co. Limited Company Information for the year ended 31 July 2023
Directors
Mrs Victoria Black Mr Ian Black
Company Number
12087089 (England and Wales)
Registered Office
Union House 111 New Union Street Coventry West Midlands CV1 2NT United Kingdom
Accountants
JS Accountancy Services Measham Business Centre 56 High Street/Queens Street Measham Derbyshire DE12 7HZ
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Newbold Spirit Co. Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
- 
7,197 
Debtors
- 
1,496 
Cash at bank and in hand
527 
2,356 
527 
11,049 
Creditors: amounts falling due within one year
(24,201)
(27,070)
Net current liabilities
(23,674)
(16,021)
Total assets less current liabilities
(23,674)
(16,021)
Creditors: amounts falling due after more than one year
(1,803)
(2,605)
Net liabilities
(25,477)
(18,626)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(25,479)
(18,628)
Shareholders' funds
(25,477)
(18,626)
For the year ending 31 July 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by
Mrs Victoria Black Director Company Registration No. 12087089
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Newbold Spirit Co. Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Newbold Spirit Co. Limited is a private company, limited by shares, registered in England and Wales, registration number 12087089. The registered office is Union House, 111 New Union Street, Coventry, West Midlands, CV1 2NT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
122 
Trade debtors
- 
1,374 
- 
1,496 
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Newbold Spirit Co. Limited Notes to the Accounts for the year ended 31 July 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
800 
800 
VAT
58 
- 
Trade creditors
- 
1,408 
Loans from directors
22,830 
24,349 
Accruals
513 
513 
24,201 
27,070 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
1,803 
2,605 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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