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REGISTERED NUMBER: 00402192 (England and Wales)















Unaudited Financial Statements

for the Year Ended 5th April 2024

for

Newards Limited

Newards Limited (Registered number: 00402192)

Contents of the Financial Statements
for the Year Ended 5th April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Newards Limited

Company Information
for the Year Ended 5th April 2024







DIRECTORS: D M R Ward
N A R Ward



SECRETARY: N A R Ward



REGISTERED OFFICE: Enterprise Trading Estate
Guiness Road
Trafford Park
Manchester
M17 1SG



REGISTERED NUMBER: 00402192 (England and Wales)



ACCOUNTANTS: Newey Associates
88 Leicester Drive
Shirebrook Park
Glossop
Derbyshire
SK13 8SH



SOLICITORS: Nexus Solicitors
Carlton House
16 - 18 Albert Square
Manchester
M2 5PE

Newards Limited (Registered number: 00402192)

Balance Sheet
5th April 2024

5.4.24 5.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,799 15,092

CURRENT ASSETS
Stocks 138,368 103,892
Debtors 5 180,578 229,415
Cash at bank 12,561 56,693
331,507 390,000
CREDITORS
Amounts falling due within one year 6 271,482 302,248
NET CURRENT ASSETS 60,025 87,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,824

102,844

CREDITORS
Amounts falling due after more than one
year

7

22,500

32,500
NET ASSETS 51,324 70,344

CAPITAL AND RESERVES
Called up share capital 600 600
Capital redemption reserve 796 796
Retained earnings 49,928 68,948
SHAREHOLDERS' FUNDS 51,324 70,344

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 2024 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.

Newards Limited (Registered number: 00402192)

Balance Sheet - continued
5th April 2024


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 18th July 2024 and were signed on its behalf by:





D M R Ward - Director


Newards Limited (Registered number: 00402192)

Notes to the Financial Statements
for the Year Ended 5th April 2024


1. STATUTORY INFORMATION

Newards 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Newards Limited (Registered number: 00402192)

Notes to the Financial Statements - continued
for the Year Ended 5th April 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 6th April 2023 47,658 39,738 18,793 106,189
Additions 229 1,234 4,500 5,963
Disposals - - (6,769 ) (6,769 )
At 5th April 2024 47,887 40,972 16,524 105,383
DEPRECIATION
At 6th April 2023 45,111 37,315 8,671 91,097
Charge for year 556 365 2,762 3,683
Eliminated on disposal - - (3,196 ) (3,196 )
At 5th April 2024 45,667 37,680 8,237 91,584
NET BOOK VALUE
At 5th April 2024 2,220 3,292 8,287 13,799
At 5th April 2023 2,547 2,423 10,122 15,092

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Trade debtors 159,056 232,581
Other debtors 10,551 10,567
Staff Loans - 35
VAT 10,971 9,734
Prepayments - (23,502 )
180,578 229,415

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Trade creditors 113,317 163,849
Social security and other taxes 7,222 7,117
CIS Tax 2,556 2,935
Other creditors 3,647 8,555
Pension scheme Loan 83,323 58,325
Pensions Due 180 204
Directors' current accounts 53,601 54,377
Accrued expenses 7,636 6,886
271,482 302,248

Newards Limited (Registered number: 00402192)

Notes to the Financial Statements - continued
for the Year Ended 5th April 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
5.4.24 5.4.23
£    £   
Barclays Business Loan 22,500 32,500

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 5th April 2024 and 5th April 2023:

5.4.24 5.4.23
£    £   
D M R Ward
Balance outstanding at start of year - -
Amounts advanced 242 -
Amounts repaid (242 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

N A R Ward
Balance outstanding at start of year (54,377 ) (54,439 )
Amounts advanced 1,018 62
Amounts repaid (242 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (53,601 ) (54,377 )

9. RELATED PARTY DISCLOSURES

During the year the Company paid £19,500 to the Newards Pension Scheme in the form of Rent.