2022-08-012023-07-302023-07-30falseSC270583NEWBEANS 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NEWBEANS LTD

Registered Number
SC270583
(Scotland)

Unaudited Financial Statements for the Period ended
30 July 2023

NEWBEANS LTD
Company Information
for the period from 1 August 2022 to 30 July 2023

Director

Mark Wilson

Company Secretary

Mark Wilson

Registered Address

272 Bath Street
Glasgow
G2 4RJ

Registered Number

SC270583 (Scotland)
NEWBEANS LTD
Balance Sheet as at
30 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3288,563288,563
Tangible assets42150
288,565288,713
Current assets
Debtors557932,618
Cash at bank and on hand1,55818,901
2,13751,519
Creditors amounts falling due within one year6(112,794)(129,119)
Net current assets (liabilities)(110,657)(77,600)
Total assets less current liabilities177,908211,113
Creditors amounts falling due after one year7(80,369)(92,901)
Provisions for liabilities-(29)
Net assets97,539118,183
Capital and reserves
Called up share capital70,00070,000
Profit and loss account27,53948,183
Shareholders' funds97,539118,183
The financial statements were approved and authorised for issue by the Director on 24 October 2024, and are signed on its behalf by:
Mark Wilson
Director
Registered Company No. SC270583
NEWBEANS LTD
Notes to the Financial Statements
for the period ended 30 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The financial statements have been prepared on the going concern basis. The director finds it appropriate for the financial statements to be prepared on this basis despite the net current liability position of the company. The company is reliant upon the continued support of the director who has confirmed he will not withdraw his directors loan account to the detriment of other creditors.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixed assets are stated at cost, being purchase price, less accumulated depreciation.

Straight line (years)
Office Equipment3
2.Average number of employees

20232022
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 August 22288,563288,563
At 30 July 23288,563288,563
Net book value
At 30 July 23288,563288,563
At 31 July 22288,563288,563
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 August 224,1044,104
At 30 July 234,1044,104
Depreciation and impairment
At 01 August 223,9543,954
Charge for year148148
At 30 July 234,1024,102
Net book value
At 30 July 2322
At 31 July 22150150
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables-16,088
Other debtors41916,530
Prepayments and accrued income160-
Total57932,618
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-5,984
Bank borrowings and overdrafts11,07918,568
Other creditors100,571103,422
Accrued liabilities and deferred income1,1441,145
Total112,794129,119
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts80,36992,901
Total80,36992,901