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REGISTERED NUMBER: 09011514 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

NEW FOREST METALWORK LIMITED

NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Balance sheet 1

Notes to the financial statements 3


NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - 2,000
Tangible assets 5 36,040 47,560
36,040 49,560

Current assets
Stocks 20,505 17,233
Debtors 6 27,648 40,212
Cash at bank 122,038 196,983
170,191 254,428
Creditors
Amounts falling due within one year 7 102,254 112,937
Net current assets 67,937 141,491
Total assets less current liabilities 103,977 191,051

Provisions for liabilities 8 4,822 6,566
Net assets 99,155 184,485

Capital and reserves
Called up share capital 9 100 100
Retained earnings 99,055 184,385
Shareholders' funds 99,155 184,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

BALANCE SHEET - continued
30 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2024 and were signed on its behalf by:




Mr S Wallis - Director



Mrs L Wallis - Director


NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. Statutory information

New Forest Metalwork Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09011514. The registered office and business address is The Barn, Snails Lane, Blashford, Ringwood, Hampshire, BH24 3PG.

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 represents amounts receivable, excluding value added tax, in respect of services provided in the ordinary course of business. Turnover is recognised as soon as the service has been provided to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 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.

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.

NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. Accounting policies - continued

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 9 (2023 - 9 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 May 2023
and 30 April 2024 20,000
Amortisation
At 1 May 2023 18,000
Charge for year 2,000
At 30 April 2024 20,000
Net book value
At 30 April 2024 -
At 30 April 2023 2,000

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 May 2023 23,834 648 80,076 6,313 110,871
Additions - - - 924 924
At 30 April 2024 23,834 648 80,076 7,237 111,795
Depreciation
At 1 May 2023 19,834 583 37,102 5,792 63,311
Charge for year 1,000 16 10,676 752 12,444
At 30 April 2024 20,834 599 47,778 6,544 75,755
Net book value
At 30 April 2024 3,000 49 32,298 693 36,040
At 30 April 2023 4,000 65 42,974 521 47,560

NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
Cost
At 1 May 2023 25,495
Transfer to ownership (25,495 )
At 30 April 2024 -
Depreciation
At 1 May 2023 12,495
Transfer to ownership (12,495 )
At 30 April 2024 -
Net book value
At 30 April 2024 -
At 30 April 2023 13,000

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 4,140 25,414
Other debtors 7,982 7,982
Tax 6,777 -
Prepayments 8,749 6,816
27,648 40,212

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Finance leases - 1,594
Trade creditors 25,672 21,840
Tax - 15,951
Social security and other taxes 2,072 3,560
Pension 757 1,182
VAT 12,592 15,692
Other creditors 2,334 2,572
Directors' current accounts 40,553 38,962
Accruals and deferred income 18,274 11,584
102,254 112,937

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 4,822 6,566

NEW FOREST METALWORK LIMITED (REGISTERED NUMBER: 09011514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


8. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 May 2023 6,566
Provided during year (1,744 )
Balance at 30 April 2024 4,822

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

10. Ultimate controlling party

The company is controlled by its directors, Mr and Mrs Wallis, who each own 50% of the issued share capital.