2023-01-01 08694540 2023-12-31 08694540 2023-01-01 2023-12-31 08694540 2022-12-31 08694540 2022-01-01 2022-12-31 08694540 uk-core:WithinOneYear 2022-12-31 08694540 uk-core:WithinOneYear 2023-12-31 08694540 uk-core:AfterOneYear 2022-12-31 08694540 uk-core:AfterOneYear 2023-12-31 08694540 uk-core:ShareCapital 2023-12-31 08694540 uk-core:ShareCapital 2022-12-31 08694540 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 08694540 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 08694540 uk-bus:Director1 2023-01-01 2023-12-31 08694540 uk-core:PlantMachinery 2023-01-01 2023-12-31 08694540 uk-core:ToolsEquipment 2023-01-01 2023-12-31 08694540 uk-core:FurnitureFittings 2023-01-01 2023-12-31 08694540 uk-core:ToolsEquipment 2022-12-31 08694540 uk-core:FurnitureFittings 2022-12-31 08694540 uk-core:PlantMachinery 2022-12-31 08694540 uk-core:PlantMachinery 2023-12-31 08694540 uk-core:FurnitureFittings 2023-12-31 08694540 uk-core:ToolsEquipment 2023-12-31 08694540 uk-core:WithinOneYear 2023-12-31 08694540 uk-core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure 08694540 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08694540 uk-bus:FRS102 2023-01-01 2023-12-31 08694540 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 08694540 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Newtech Worldwide Limited
Registered Number:08694540
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2023
Newtech Worldwide Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
08694540
As at 31 December 2023
Newtech Worldwide Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
100,342
39,769
2
100,342
39,769
Current assets
Inventories
396,474
542,460
3
Trade and other receivables
2,016,326
1,922,255
4
1,109
Cash and cash equivalents
7,566
2,472,281
2,413,909
Trade and other payables: amounts falling due within one
year
(1,563,930)
(1,730,994)
5
849,979
741,287
Net current assets
Total assets less current liabilities
841,629
889,748
Trade and other payables: amounts falling due after more
than one year
(156,975)
(128,146)
6
713,483
Net assets
732,773
Capital and reserves
Called up share capital
2
2
Retained earnings
713,481
732,771
713,483
732,773
Shareholders' funds
For the year ended 31 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Jaimeet Singh Bhogal Director
These financial statements were approved and authorised for issue by the Board on 11 September 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2023
Newtech Worldwide Limited
Notes to the Financial Statements
Statutory Information
Newtech Worldwide Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 08694540.
Registered address:
Unit 12, Isis Trading Estate,
Stratton Road,
Swindon,
England,
SN1 2PG.
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
15% Reducing balance
Computer equipment
15% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 31 December 2023
Newtech Worldwide Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 January 2023
53,502
19,035
11,411
23,056
82,066
280
8,795
72,991
Additions
At 31 December 2023
96,047
20,206
19,315
135,568
Provision for depreciation and impairment
At 01 January 2023
13,733
5,939
4,336
3,458
Charge for year
21,493
2,006
2,380
17,107
At 31 December 2023
35,226
7,945
6,716
20,565
At 31 December 2023
Net book value
75,482
13,490
11,370
100,342
At 31 December 2022
19,598
7,075
13,096
39,769
3. Inventories
2022
2023
£
£
Stocks
542,460
396,474
4. Trade and other receivables
2022
2023
£
£
Trade debtors
1,148,228
1,117,266
Other debtors
774,027
899,060
2,016,326
1,922,255
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
53,809
245,339
Trade creditors
513,840
303,142
Taxation and social security
23,205
44,601
Other creditors
1,140,140
970,848
1,730,994
1,563,930
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6
For the year ended 31 December 2023
Newtech Worldwide Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Other creditors
128,146
156,975
7. Average number of persons employed
During the year the average number of employees was 9 (2022 : 9)
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