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REGISTERED NUMBER: SC585970 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Newlands Wholesale Ltd

Newlands Wholesale Ltd (Registered number: SC585970)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Newlands Wholesale Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Ms H C K Newlands
G Rendall
J Rendall





REGISTERED OFFICE: 3/4 Cunningham Road
Springkerse Industrial Estate
Stirling
FK7 7SW





REGISTERED NUMBER: SC585970 (Scotland)





ACCOUNTANTS: Advantage Accounting (Scotland) Ltd
Pavilion 2
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU

Newlands Wholesale Ltd (Registered number: SC585970)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 73,095 66,073

CURRENT ASSETS
Stocks 13,200 12,510
Debtors 5 91,965 79,097
Cash at bank and in hand 40,865 16,909
146,030 108,516
CREDITORS
Amounts falling due within one year 6 148,765 98,767
NET CURRENT (LIABILITIES)/ASSETS (2,735 ) 9,749
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,360

75,822

CREDITORS
Amounts falling due after more than one
year

7

(59,858

)

(59,610

)

PROVISIONS FOR LIABILITIES (9,910 ) (9,895 )
NET ASSETS 592 6,317

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 492 6,217
SHAREHOLDERS' FUNDS 592 6,317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Newlands Wholesale Ltd (Registered number: SC585970)

Balance Sheet - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





J Rendall - Director


Newlands Wholesale Ltd (Registered number: SC585970)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Newlands Wholesale Ltd is a private company, limited by shares , registered in Scotland. 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost, 20% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

Newlands Wholesale Ltd (Registered number: SC585970)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 104,812
Additions 38,732
At 31 January 2024 143,544
DEPRECIATION
At 1 February 2023 38,739
Charge for year 31,710
At 31 January 2024 70,449
NET BOOK VALUE
At 31 January 2024 73,095
At 31 January 2023 66,073

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 6,468 -
Amounts owed by associates 34,500 64,000
Other debtors 50,997 15,097
91,965 79,097

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 8,519 8,519
Hire purchase contracts 14,375 11,481
Trade creditors 99,542 38,212
Amounts owed to associates 424 22,493
Taxation and social security 23,039 16,194
Other creditors 2,866 1,868
148,765 98,767

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 11,949 19,272
Hire purchase contracts 47,909 40,338
59,858 59,610

Newlands Wholesale Ltd (Registered number: SC585970)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. SECURED DEBTS

The Royal Bank of Scotland PLC holds a floating charge over the assets of
the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
Ms H C K Newlands
Balance outstanding at start of year (417 ) -
Amounts advanced 38,382 23,583
Amounts repaid (19,840 ) (24,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,125 (417 )

J Rendall
Balance outstanding at start of year (810 ) -
Amounts advanced 35,767 22,190
Amounts repaid (19,840 ) (23,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,117 (810 )

G Rendall
Balance outstanding at start of year (640 ) -
Amounts advanced 34,304 20,360
Amounts repaid (20,200 ) (21,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,464 (640 )

Amounts due to directors are interest free and unsecured.