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REGISTERED NUMBER: 07254560 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2024

for

The New Boot Limited

The New Boot Limited (Registered number: 07254560)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The New Boot Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: N J Cox
Mrs J D Dexter
Mrs C E Stevens
L W Stringfellow
M L Vian
S Davidson





REGISTERED OFFICE: 7 Merlin Courtyard
Gatehouse Close
Aylesbury
Buckinghamshire
HP19 8DP





REGISTERED NUMBER: 07254560 (England and Wales)





ACCOUNTANTS: Danton Partners
7 Merlin Courtyard
Gatehouse Close
Aylesbury
Buckinghamshire
HP19 8DP

The New Boot Limited (Registered number: 07254560)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 450,945 451,985
450,945 451,985

CURRENT ASSETS
Debtors 6 362 548
Cash in hand 15,622 11,459
15,984 12,007
CREDITORS
Amounts falling due within one year 7 25,936 23,123
NET CURRENT LIABILITIES (9,952 ) (11,116 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

440,993

440,869

CREDITORS
Amounts falling due after more than one
year

8

(352,318

)

(372,655

)

PROVISIONS FOR LIABILITIES 10 (947 ) (1,231 )
NET ASSETS 87,728 66,983

CAPITAL AND RESERVES
Called up share capital 11 645 645
Retained earnings 12 87,083 66,338
SHAREHOLDERS' FUNDS 87,728 66,983

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

The New Boot Limited (Registered number: 07254560)

Balance Sheet - continued
31 May 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 15 August 2024 and were signed on its behalf by:





L W Stringfellow - Director


The New Boot Limited (Registered number: 07254560)

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

1. STATUTORY INFORMATION

The New Boot Limited is a private company, limited by shares , registered in England and Wales. 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, representing rental income, is recognised consistently with the right to receive consideration in exchange for the use of the company asset.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance

Government grants
Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure.
Apart from the 2.5% rate of interest charged on the Bounce Back loan the company has not benefitted from any other forms of COVID19 business support assistance.

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.

The New Boot Limited (Registered number: 07254560)

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

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 59,000
AMORTISATION
At 1 June 2023
and 31 May 2024 59,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 445,054 16,000 461,054
DEPRECIATION
At 1 June 2023 - 9,069 9,069
Charge for year - 1,040 1,040
At 31 May 2024 - 10,109 10,109
NET BOOK VALUE
At 31 May 2024 445,054 5,891 450,945
At 31 May 2023 445,054 6,931 451,985

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 362 548

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loan 1,736 1,697
Taxation and social security 5,043 3,101
Other creditors 19,157 18,325
25,936 23,123

The New Boot Limited (Registered number: 07254560)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 2,083 3,821
Other creditors 350,235 368,834
352,318 372,655

In December 2022 the company arranged two loans of £10,000 each from shareholders.
The £20,000 was used immediately to make a partial repayment of the Benefactors Loan.
These loans, which are unsecured, are scheduled to be repaid by monthly repayments over a maximum period of 90 months from drawdown.
Interest is payable at the rate of 2.5% per annum above the Bank of England base rate.

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 3,819 5,518

The company borrowed £8,500 under the Bounce Back Loan Scheme in July 2020.

UK Government paid any interest payable in the first 12 months through a Business Interruption Payment to the lender, and lenders benefit from a 100% government backed guarantee.

The government has set the interest rate for this loan at 2.5% per annum and the repayment term is fixed at six years. No repayments were due during the first 12 months.The company remains 100% liable to repay the full loan amount,as well as interest, after the first year.

10. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax
Accelerated capital allowances 947 1,231

Deferred
tax
£   
Balance at 1 June 2023 1,231
Movements in year
Accelerated capital allowances (284 )
Balance at 31 May 2024 947

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
645 Ordinary £1 645 645

The New Boot Limited (Registered number: 07254560)

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

12. RESERVES
Retained
earnings
£   

At 1 June 2023 66,338
Profit for the year 20,745
At 31 May 2024 87,083

13. TRANSACTIONS WITH THE DIRECTORS

In the company's first year, and subsequently, it received interest free loans from each shareholder. These loans were made on issue of each share and on the basis that they will only be repaid when the company is in a financial position to do so. The following balances relate to the directors in office at the balance sheet date and are included within the shareholders loans.

N J Cox£5,988
Mrs J D Dexter£9,980
L W Stringfellow£499
Mrs C E Stevens£1,497
M L Vian£2,495

14. RELATED PARTY DISCLOSURES

In the company's first year, and subsequently, it received interest free loans from each shareholder. These loans were made on issue of each share and on the basis that repayment will only be made when the company is in a financial position to do so. No repayment of the loans has been made during the year. At the year end the total amount loaned to the company was £321,855 (2023 - £321,855) which is shown as a long term liability. Details of the individual balances can be obtained from the directors on request.

15. CONTROL

The company is not under the control of any one shareholder.