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REGISTERED NUMBER: 06543572 (England and Wales)






















New Month Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31st December 2023






New Month Limited (Registered number: 06543572)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


New Month Limited

Company Information
for the year ended 31st December 2023







DIRECTORS: P T Simpson
N Butler
J J Swaby
R E Thorpe
M T Hill





REGISTERED OFFICE: Plot 56/57
Grange Lane North
Scunthorpe
North Lincolnshire
DN16 1BN





REGISTERED NUMBER: 06543572 (England and Wales)





AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

New Month Limited (Registered number: 06543572)

Strategic Report
for the year ended 31st December 2023

The directors present their strategic report for the year ended 31st December 2023.

REVIEW OF BUSINESS
This company is an intermediary holding company within the group of companies headed by Newbegin
Corporation Limited.

The principal activity of the group headed by this company continued to be that of commercial vehicle body building, trailer chassis manufacturing and repairs. The company has had a vastly improved year in 2023 on the back of the directors implementing a new business system to monitor production KPI's in addition to the existing monthly and annual financial reports, sales reports and cash flow reports. The company has a strong order book for 2024.

Both performance and the future outlook have continued to improve with the group headed by this company trading profitably post year-end and the directors are confident that the company can maintain this going forward based on a long term strategy and continue to monitor the level of future orders, production costs, overheads, assets, investment in equipment and cash resources which they consider to be key performance indicators (KPI's).

PRINCIPAL RISKS AND UNCERTAINTIES
The groups' operations expose it to competitive, legislative and financial risks that include credit risk and liquidity risk. The company has in place a strong risk management programme that aims to eliminate adverse effects of the financial performance of the company.

ON BEHALF OF THE BOARD:





R E Thorpe - Director


2nd September 2024

New Month Limited (Registered number: 06543572)

Report of the Directors
for the year ended 31st December 2023

The directors present their report with the financial statements of the company for the year ended 31st December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a holding company.

DIVIDENDS
No dividends will be distributed for the year ended 31st December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report.

P T Simpson
N Butler
J J Swaby
R E Thorpe

Other changes in directors holding office are as follows:

M T Hill was appointed as a director after 31st December 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

New Month Limited (Registered number: 06543572)

Report of the Directors
for the year ended 31st December 2023


AUDITORS
The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R E Thorpe - Director


2nd September 2024

Report of the Independent Auditors to the Members of
New Month Limited

Opinion
We have audited the financial statements of New Month Limited (the 'company') for the year ended 31st December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st December 2023;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
New Month Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
New Month Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the limited liability partnership, including the Companies Act 2006, anti-bribery, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the limited liability partnership's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
- agreeing financial statement disclosures to underlying supporting documentation;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with relevant regulators and the limited liability partnership's legal advisors.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities; including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
New Month Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Michael Stocks ACA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

2nd September 2024

New Month Limited (Registered number: 06543572)

Income Statement
for the year ended 31st December 2023

2023 2022
Notes £    £   

TURNOVER - -
OPERATING PROFIT and
PROFIT BEFORE TAXATION - -

Tax on profit 4 - -
PROFIT FOR THE FINANCIAL YEAR - -

New Month Limited (Registered number: 06543572)

Other Comprehensive Income
for the year ended 31st December 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR - -


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

-

-

New Month Limited (Registered number: 06543572)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 4,385 4,385
Investments 6 4,673,250 4,673,250
4,677,635 4,677,635

CURRENT ASSETS
Cash at bank 1 1

CREDITORS
Amounts falling due within one year 7 2,118,465 2,118,465
NET CURRENT LIABILITIES (2,118,464 ) (2,118,464 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,559,171

2,559,171

CAPITAL AND RESERVES
Called up share capital 8 534,346 534,346
Share premium 9 15,902 15,902
Capital redemption reserve 9 7 7
Other reserves 9 105,561 105,561
Retained earnings 9 1,903,355 1,903,355
SHAREHOLDERS' FUNDS 2,559,171 2,559,171

The financial statements were approved by the Board of Directors and authorised for issue on 2nd September 2024 and were signed on its behalf by:





R E Thorpe - Director


New Month Limited (Registered number: 06543572)

Statement of Changes in Equity
for the year ended 31st December 2023

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1st January 2022 534,346 1,903,355 15,902

Changes in equity
Balance at 31st December 2022 534,346 1,903,355 15,902

Changes in equity
Balance at 31st December 2023 534,346 1,903,355 15,902
Capital
redemption Other Total
reserve reserves equity
£    £    £   
Balance at 1st January 2022 7 105,561 2,559,171

Changes in equity
Balance at 31st December 2022 7 105,561 2,559,171

Changes in equity
Balance at 31st December 2023 7 105,561 2,559,171

New Month Limited (Registered number: 06543572)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

New Month Limited 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
The financial statements have been prepared in accordance with applicable accounting standards
including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirement of paragraph 33.7.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured ar cost less any accumulated amortisation and any accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31st December 2023 nor for the year ended 31st December 2022.

The average number of employees during the year was as follows:
2023 2022

Directors 4 4

2023 2022
£    £   
Directors' remuneration - -

New Month Limited (Registered number: 06543572)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31st December 2023 nor for the year ended 31st December 2022.

5. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1st January 2023
and 31st December 2023 4,385
NET BOOK VALUE
At 31st December 2023 4,385
At 31st December 2022 4,385

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 4,673,250
NET BOOK VALUE
At 31st December 2023 4,673,250
At 31st December 2022 4,673,250

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Weightlifter Bodies Limited
Registered office: Grange Lane North, Scunthorpe, North Lincolnshire, DN16 1BN
Nature of business: Manufacture of bespoke commercial vehicle bodies
%
Class of shares: holding
Ordinary 100.00

P.P.G. Fabrications Limited
Registered office: Grange Lane North, Scunthorpe, North Lincolnshire, DN16 1BN
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 2,118,465 2,118,465

New Month Limited (Registered number: 06543572)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
534,346 Ordinary 1 534,346 534,346

9. RESERVES
Capital
Retained Share redemption Other
earnings premium reserve reserves Totals
£    £    £    £    £   

At 1st January 2023 1,903,355 15,902 7 105,561 2,024,825
Profit for the year - - - - -
At 31st December 2023 1,903,355 15,902 7 105,561 2,024,825

Retained Earnings
The retained earnings represents cumulative profits and losses net of dividends and other adjustments.

Share Premium
The share premium account represents the premium arising on the issue of shares net of issue costs.

Capital Redemption Reserve
The capital redemption reserve records the nominal value of shares purchased by the company.

10. ULTIMATE PARENT COMPANY

The company's parent company is Grange Cross Limited Limited. the registered office of this company is Newbegin House, Geneva Way, Leeds Road, Hull, HU7 0DG.

The company's ultimate parent company is Newbegin Corporation Limited. The registered office of this company is Newbegin House Geneva Way, Leads Road, Hull, HU7 0DG.

The largest and smallest group in which the results of the company to 31 December 2023 are consolidated is that headed by Newbegin Corporation Limited. The consolidated financial statements of the group are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

11. CONTINGENT LIABILITIES

There is a cross guarantee with other group company's in respect of bank and other borrowings. At 31st December 2023 the potential net liability of the company under the arrangement was £4,880,200 (2022 £6,037,608).

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. ULTIMATE CONTROLLING PARTY

The company is not controlled by any one party.