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REGISTERED NUMBER: 03088038 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NEWTON & FROST FENCING LTD

NEWTON & FROST FENCING LTD (REGISTERED NUMBER: 03088038)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWTON & FROST FENCING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: I Frost
Mrs S A Frost
I E Croft





SECRETARY: I Frost





REGISTERED OFFICE: Downsview Yard
North Corner
Horam
Heathfield
East Sussex
TN21 9HJ





REGISTERED NUMBER: 03088038 (England and Wales)

NEWTON & FROST FENCING LTD (REGISTERED NUMBER: 03088038)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 330,775 296,815
330,775 296,815

CURRENT ASSETS
Stocks 684,644 616,533
Debtors 6 770,389 904,959
Cash at bank and in hand 3,590 259,317
1,458,623 1,780,809
CREDITORS
Amounts falling due within one year 7 (805,154 ) (761,631 )
NET CURRENT ASSETS 653,469 1,019,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

984,244

1,315,993

CREDITORS
Amounts falling due after more than one
year

8

(338,709

)

(329,042

)

PROVISIONS FOR LIABILITIES (43,330 ) (60,004 )
NET ASSETS 602,205 926,947

NEWTON & FROST FENCING LTD (REGISTERED NUMBER: 03088038)

BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 10 200,000 200,000
Share premium 220,746 220,746
Retained earnings 181,459 506,201
602,205 926,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 30 May 2024 and were signed on its behalf by:





I Frost - Director


NEWTON & FROST FENCING LTD (REGISTERED NUMBER: 03088038)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Newton & Frost Fencing Ltd 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.

Goodwill
Goodwill relates to the amount paid in connection with the acquisition of the business in 1996 and has been fully amortised.

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 - 33% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 25% on cost

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

NEWTON & FROST FENCING LTD (REGISTERED NUMBER: 03088038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

NEWTON & FROST FENCING LTD (REGISTERED NUMBER: 03088038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2022 - 56 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 100,000
AMORTISATION
At 1 January 2023
and 31 December 2023 100,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 346,042 98,425 525,598 44,881 1,014,946
Additions - 3,526 178,112 1,433 183,071
Disposals - - (112,172 ) - (112,172 )
Reclassification/transfer - - (67,680 ) - (67,680 )
At 31 December 2023 346,042 101,951 523,858 46,314 1,018,165
DEPRECIATION
At 1 January 2023 276,020 67,955 337,312 36,844 718,131
Charge for year 17,506 10,859 107,544 2,833 138,742
Eliminated on disposal - - (101,803 ) - (101,803 )
Reclassification/transfer - - (67,680 ) - (67,680 )
At 31 December 2023 293,526 78,814 275,373 39,677 687,390
NET BOOK VALUE
At 31 December 2023 52,516 23,137 248,485 6,637 330,775
At 31 December 2022 70,022 30,470 188,286 8,037 296,815

NEWTON & FROST FENCING LTD (REGISTERED NUMBER: 03088038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 178,112
Reclassification/transfer 107,978
At 31 December 2023 286,090
DEPRECIATION
Charge for year 77,416
At 31 December 2023 77,416
NET BOOK VALUE
At 31 December 2023 208,674

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 261,677 246,504
Amounts recoverable on contract 382,565 479,824
Other debtors 39,770 69,833
VAT 21,224 38,591
Prepayments 38,065 39,834
743,301 874,586

Amounts falling due after more than one year:
Trade debtors 27,088 30,373

Aggregate amounts 770,389 904,959

NEWTON & FROST FENCING LTD (REGISTERED NUMBER: 03088038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 157,328 10,000
Other loans 60,000 63,347
Hire purchase contracts 81,812 63,243
Trade creditors 440,612 487,850
Tax (21,488 ) 41,176
Social security and other taxes 72,296 81,239
Directors' current accounts 94 276
Accrued expenses 14,500 14,500
805,154 761,631

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 8,333 18,333
Other loans - 1-2 years 60,000 60,000
Preference shares 30,000 30,000
Other loans - 2-5 years 63,663 114,085
Hire purchase contracts 166,713 96,624
338,709 329,042

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other Loans - 234,085

Other loans relate to pension fund loans secured by a fixed and floating charge over all of the company's assets. The directors Mr I Frost and Mrs S Frost are trustees and members of the company's self administered pension scheme.

NEWTON & FROST FENCING LTD (REGISTERED NUMBER: 03088038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. CALLED UP SHARE CAPITAL

2023 2022
£ £

Ordinary £1 A Shares 170,000 170,000
Ordinary £1 B Shares 10,000 10,000
Ordinary £1 C Shares 10,000 10,000
Ordinary £1 D Shares 10,000 10,000
Preference Shares 30,000 30,000
230,000 230,000

A resolution varying the share class and rights was passed on 24 September 2021.

11. RELATED PARTY DISCLOSURES

During the year the company paid rent of £60,000 (2022: £60,000) on an open market basis to the company's self administered pension scheme, of which both Mr I Frost and Mrs S Frost are trustees.