REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023 |
FOR |
NEWBURN POWER RENTAL LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023 |
FOR |
NEWBURN POWER RENTAL LIMITED |
NEWBURN POWER RENTAL LIMITED (REGISTERED NUMBER: 02275832) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
NEWBURN POWER RENTAL LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
First Floor, Unit 12 |
Pennine Business Park |
Longbow Close, Bradley |
Huddersfield |
West Yorkshire |
HD2 1GQ |
NEWBURN POWER RENTAL LIMITED (REGISTERED NUMBER: 02275832) |
BALANCE SHEET |
30 NOVEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Profit and loss account |
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. |
NEWBURN POWER RENTAL LIMITED (REGISTERED NUMBER: 02275832) |
BALANCE SHEET - continued |
30 NOVEMBER 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
NEWBURN POWER RENTAL LIMITED (REGISTERED NUMBER: 02275832) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
Newburn Power Rental Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
GOODWILL |
Goodwill has been amortised evenly over its estimated useful life of 10 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 |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
STOCKS |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
TAXATION |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
NEWBURN POWER RENTAL LIMITED (REGISTERED NUMBER: 02275832) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
INCOME RECOGNITION |
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them. |
HIRE PURCHASE AND LEASING COMMITMENTS |
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the leases. The benefits of lease incentives are recognised in the profit and loss account over the shorter of the lease period and the period to the next rent review at which the rent is expected to be reset to market rates. |
FINANCE COST OF DEBT |
The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Intellectual |
Goodwill | property | Totals |
£ | £ | £ |
COST |
At 30 November 2022 |
and 30 November 2023 |
AMORTISATION |
At 30 November 2022 |
and 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 29 November 2022 |
NEWBURN POWER RENTAL LIMITED (REGISTERED NUMBER: 02275832) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 30 November 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 November 2023 |
DEPRECIATION |
At 30 November 2022 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 29 November 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group company |
Amounts owed by related party |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Invoice financing |
Hire purchase contracts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
The obligations under invoice financing are secured by a charge on the company's assets. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts (see note 9) |
NEWBURN POWER RENTAL LIMITED (REGISTERED NUMBER: 02275832) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023 |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase | contracts |
2023 | 2022 |
£ | £ |
Gross obligations repayable: |
Within one year |
Between one and five years |
Finance charges repayable: |
Within one year |
Between one and five years |
Net obligations repayable: |
Within one year |
Between one and five years |
At 30 November 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £5,987 (2022 - £89,589). |
The obligations under finance leases and hire purchase contracts are secured by a charge on the assets purchased under these agreements. |
10. | PENSION COMMITMENTS |
The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £49,476 (2022: £47,338). Contributions totalling £1,116 (2022: £1,936) were payable to the fund at the year end and are included in creditors. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is Bristock Limited, a company incorporated in England and Wales. |