Company registration number 00847025 (England and Wales)
NEWTONS INDUSTRIES (LIVERPOOL) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NEWTONS INDUSTRIES (LIVERPOOL) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
NEWTONS INDUSTRIES (LIVERPOOL) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
225
Investment property
4
3,861,399
3,861,399
3,861,624
3,861,399
Current assets
Debtors
5
69,586
58,059
Cash at bank and in hand
165,805
197,953
235,391
256,012
Creditors: amounts falling due within one year
6
(81,048)
(79,553)
Net current assets
154,343
176,459
Total assets less current liabilities
4,015,967
4,037,858
Provisions for liabilities
(720,711)
(720,711)
Net assets
3,295,256
3,317,147
Capital and reserves
Called up share capital
8,100
8,100
Share premium account
100
100
Capital redemption reserve
24,016
24,016
Profit and loss reserves
3,263,040
3,284,931
Total equity
3,295,256
3,317,147
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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.
NEWTONS INDUSTRIES (LIVERPOOL) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 August 2024 and are signed on its behalf by:
Mr PS M Newton
Director
Company registration number 00847025 (England and Wales)
NEWTONS INDUSTRIES (LIVERPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Newtons Industries (Liverpool) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 122 South Street, Liverpool, United Kingdom, L8 3TN.
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents gross invoiced sales of services.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
Fixtures and fittings
10% straight line method
Computers
15% reducing balance method
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Pension costs and other post-retirement benefits
Payments in respect of other post-retirement benefits are charged to profit or loss in the period to which they relate.
NEWTONS INDUSTRIES (LIVERPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 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
4
5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
34,878
Additions
300
At 31 December 2023
35,178
Depreciation and impairment
At 1 January 2023
34,878
Depreciation charged in the year
75
At 31 December 2023
34,953
Carrying amount
At 31 December 2023
225
At 31 December 2022
4
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
3,861,399
The historical cost of the investment property was £95,893.
The directors have based their valuation of the investment properties as at 31st December 2021 on movements in market value in the area local to where the properties are situated.
NEWTONS INDUSTRIES (LIVERPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
12,247
9,239
Other debtors
57,339
48,820
69,586
58,059
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
7,010
5,465
Corporation tax
(2)
210
Other taxation and social security
1,808
1,646
Other creditors
72,232
72,232
81,048
79,553