Registered number
03293280
NEWSTONE INTERNATIONAL LIMITED
Filleted Accounts
31 March 2024
M JAFFER & CO
Chartered Certified Accountants
Stanmore BIC
Stanmore Place, Howard Road
Stanmore. HA7 1GB
NEWSTONE INTERNATIONAL LIMITED
Registered number: 03293280
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 730 912
Investments 4 1 1
731 913
Current assets
Stocks 5,874,433 4,273,479
Debtors 5 1,441,277 1,441,714
Cash at bank 115,798 229,663
7,431,508 5,944,856
Creditors: amounts falling due within one year 6 (2,869,505) (1,882,425)
Net current assets 4,562,003 4,062,431
Total assets less current liabilities 4,562,734 4,063,344
Creditors: amounts falling due after more than one year 7 4,056,791 4,056,791
Capital and reserves
Called up share capital 3 3
Share premium 148,802 148,802
Profit and loss account 357,138 (142,252)
Shareholders' funds 4,562,734 4,063,344
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Deborah Joan Wides
Director
Approved by the board on 24 September 2024
NEWSTONE INTERNATIONAL LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable and net of discounts. Turnover includes revenue earned from the sale of stocks and shares, dividends and exchange gains.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and shares
Stocks and shares are measured at the lower of cost and market value. Cost is determined using the average method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the average rate of exchange for the year. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 8,969
At 31 March 2024 8,969
Depreciation
At 1 April 2023 8,057
Charge for the year 182
At 31 March 2024 8,239
Net book value
At 31 March 2024 730
At 31 March 2023 912
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 1
At 31 March 2024 1
This investment represents 100% of the share capital of the following wholly owned subsidiary company:
Capital and reserves Profit after tax for the year
Company Shares held
Class % £ £
Crestmoore Property Limited Ordinary 100 158,008 6,025
The company own's a leasehold investment property which was purchased at a value of £1,600,000. The company's principal activity is the provision of furnished lettings.
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,441,277 1,441,714
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank overdraft 227,274 -
Director's account 2,627,195 1,869,113
Other creditors 15,036 13,312
2,869,505 1,882,425
7 Creditors: amounts falling due after one year 2024 2023
£ £
Loan from Mark McMullen Trust 4,056,791 4,056,791
The beneficiaries of Mark McMullen trust are Alice Kliman and Zoe Kliman absolutely.
8 Controlling party
The company is controlled jointly by Mrs. DJ Wides, the sole director, and her husband, Mr. BM Wides by virtue of their ability to act in concert in respect of the operational and financial policies of the company.
9 Other information
NEWSTONE INTERNATIONAL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
London
HA7 1JS
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