Company registration number 05247402 (England and Wales)
Newbery Electricals Limited
Annual report and unaudited financial statements
For the year ended 31 October 2023
Pages for filing with registrar
Newbery Electricals Limited
Contents
Page
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 5
Newbery Electricals Limited
Director's report
For the year ended 31 October 2023
- 1 -

The director presents his annual report and financial statements for the year ended 31 October 2023.

Principal activities
The principal activity of the company continued to be that of electrical contractors.
Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

A J Newbery
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
A J Newbery
Director
26 July 2024
Newbery Electricals Limited
Balance sheet
As at 31 October 2023
31 October 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
400
800
Tangible assets
4
8,580
15,797
8,980
16,597
Current assets
Stocks
750
750
Debtors
5
8,195
3,294
Cash at bank and in hand
70,228
79,327
79,173
83,371
Creditors: amounts falling due within one year
6
(34,963)
(46,758)
Net current assets
44,210
36,613
Total assets less current liabilities
53,190
53,210
Provisions for liabilities
(1,630)
(3,001)
Net assets
51,560
50,209
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
51,460
50,109
Shareholders' funds
51,560
50,209

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 26 July 2024
A J Newbery
Director
Company Registration No. 05247402
Newbery Electricals Limited
Notes to the financial statements
For the year ended 31 October 2023
- 3 -
1
Accounting policies
Company information

Newbery Electricals Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4a Greenhill Road, Greenhill, Herne Bay, Kent, CT6 7PN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, net of discounts and value added taxes.

1.3
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal instalments over its estimated useful life of twenty years.

1.4
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% straight line basis
Fixtures, fittings & equipment
25% straight line basis
Motor vehicles
25% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the net book value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and net realisable value.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Deferred tax is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

Newbery Electricals Limited
Notes to the financial statements (continued)
For the year ended 31 October 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
8,000
Amortisation
At 1 November 2022
7,200
Charged for the year
400
At 31 October 2023
7,600
Net book value
At 31 October 2023
400
At 31 October 2022
800
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2022 and 31 October 2023
670
2,620
27,459
30,749
Depreciation and impairment
At 1 November 2022
670
2,268
12,014
14,952
Depreciation charged in the year
-
0
352
6,865
7,217
At 31 October 2023
670
2,620
18,879
22,169
Carrying amount
At 31 October 2023
-
0
-
0
8,580
8,580
At 31 October 2022
-
0
352
15,445
15,797
Newbery Electricals Limited
Notes to the financial statements (continued)
For the year ended 31 October 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
7,866
3,007
Prepayments and accrued income
329
287
8,195
3,294
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,357
4,996
Corporation tax
19,173
12,022
Other taxation and social security
3,940
1,788
Other creditors
4,643
25,102
Accruals and deferred income
2,850
2,850
34,963
46,758
7
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
"A" Ordinary of £1 each
51
51
"B" Ordinary of £1 each
49
49
100
100
8
Directors' transactions

Dividends totalling £33,000 (2022 - £15,000) were paid in the year in respect of shares held by the company's directors.

The directors' loan accounts were not overdrawn during the year.

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