Newent Developments Limited 13792882 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is 41201 - Construction of commercial buildings Digita Accounts Production Advanced 6.30.9574.0 true true 13792882 2023-01-01 2023-12-31 13792882 2023-12-31 13792882 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13792882 1 2023-12-31 13792882 bus:SmallEntities 2023-01-01 2023-12-31 13792882 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13792882 bus:FilletedAccounts 2023-01-01 2023-12-31 13792882 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13792882 bus:RegisteredOffice 2023-01-01 2023-12-31 13792882 bus:Director1 2023-01-01 2023-12-31 13792882 bus:Director2 2023-01-01 2023-12-31 13792882 bus:Director3 2023-01-01 2023-12-31 13792882 bus:Director5 2023-01-01 2023-12-31 13792882 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13792882 core:OtherRelatedParties 2023-01-01 2023-12-31 13792882 countries:AllCountries 2023-01-01 2023-12-31 13792882 1 2023-01-01 2023-12-31 13792882 1 2022-12-31 13792882 2021-12-10 2022-12-31 13792882 2022-12-31 13792882 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13792882 1 2022-12-31 13792882 1 2021-12-10 2022-12-31 13792882 1 2021-12-09 iso4217:GBP xbrli:pure

Registration number: 13792882

Newent Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Newent Developments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Newent Developments Limited

Company Information

Directors

Mr N A Heaton

Mr J T Barnfield

Mr C A Barnfield

Mr D A R Heaton

Registered office

The Site
24 Chosen View Road
Cheltenham
Gloucestershire
GL51 9LT

Accountants

Regulatory Accounting Ltd
T/A Optimum Professional Services
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

Newent Developments Limited

(Registration number: 13792882)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

70,532

24,301

Cash at bank and in hand

 

538

2,122

 

71,070

26,423

Creditors: Amounts falling due within one year

5

(72,926)

(27,295)

Net liabilities

 

(1,856)

(872)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(1,956)

(972)

Shareholders' deficit

 

(1,856)

(872)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 September 2024 and signed on its behalf by:
 

.........................................
Mr J T Barnfield
Director

 

Newent Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & wales.

The address of its registered office is:
The Site
24 Chosen View Road
Cheltenham
Gloucestershire
GL51 9LT
England

These financial statements were authorised for issue by the Board on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have considered the risks and issues concerning the company and it's activities and no material
uncertainties that may cast significant doubt about the company's ability to continue as a going concern have
been identified.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Newent Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 2).

4

Stocks

2023
£

2022
£

Other inventories

70,532

24,301

 

Newent Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,500

600

Other creditors

71,426

26,695

72,926

27,295

6

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

26,695

(14,847)

11,847

 

2022

At 10 December 2021
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

-

(100)

26,795

26,695

 

Summary of transactions with other related parties

Métier Homes Limited: There is a balance of £59,578 due to Métier Homes from Newent Developments Ltd. The companies are related due to similar ownership.