1 July 2023 false No description of principal activity Taxfiler 2024.6 12031155business:PrivateLimitedCompanyLtd2023-07-012024-06-30 120311552023-06-30 120311552023-07-012024-06-30 12031155business:AuditExemptWithAccountantsReport2023-07-012024-06-30 12031155business:FilletedAccounts2023-07-012024-06-30 120311552024-06-30 12031155business:Director12023-07-012024-06-30 12031155business:Director22023-07-012024-06-30 12031155business:RegisteredOffice2023-07-012024-06-30 120311552023-06-30 12031155core:WithinOneYear2024-06-30 12031155core:WithinOneYear2023-06-30 12031155core:AfterOneYear2024-06-30 12031155core:AfterOneYear2023-06-30 12031155core:ShareCapitalcore:PreviouslyStatedAmount2024-06-30 12031155core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 12031155core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-06-30 12031155core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 12031155core:PreviouslyStatedAmount2024-06-30 12031155core:PreviouslyStatedAmount2023-06-30 12031155business:SmallEntities2023-07-012024-06-30 12031155countries:EnglandWales2023-07-012024-06-30 12031155core:PlantMachinery2023-07-012024-06-30 12031155core:FurnitureFittings2023-07-012024-06-30 12031155core:ComputerEquipment2023-07-012024-06-30 12031155core:PlantMachinery2023-06-30 12031155core:FurnitureFittings2023-06-30 12031155core:ComputerEquipment2023-06-30 12031155core:PlantMachinery2024-06-30 12031155core:FurnitureFittings2024-06-30 12031155core:ComputerEquipment2024-06-30 12031155business:OrdinaryShareClass12023-07-012024-06-30 12031155business:OrdinaryShareClass12022-07-012023-06-30 120311552022-07-012023-06-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 12031155 (England and Wales)
Newmeds Entertainment Limited Unaudited accounts for the year ended 30 June 2024
Newmeds Entertainment Limited Unaudited accounts Contents
Page
- 2 -
Newmeds Entertainment Limited Company Information for the year ended 30 June 2024
Directors
Mr J Brodie Mr N Cobley
Company Number
12031155 (England and Wales)
Registered Office
59 Princes Avenue Hull East Yorkshire HU5 3QY England
Accountants
Kendall Accountancy Services Limited 2 Exeter Street New Village Road Cottingham East Yorkshire HU16 4LU
- 3 -
Newmeds Entertainment Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
19,410 
16,055 
Current assets
Debtors
4,977 
1,817 
Cash at bank and in hand
5,767 
22,457 
10,744 
24,274 
Creditors: amounts falling due within one year
(14,456)
(14,444)
Net current (liabilities)/assets
(3,712)
9,830 
Total assets less current liabilities
15,698 
25,885 
Creditors: amounts falling due after more than one year
(10,543)
(12,567)
Provisions for liabilities
Deferred tax
(3,029)
(3,050)
Net assets
2,126 
10,268 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
2,124 
10,266 
Shareholders' funds
2,126 
10,268 
For the year ending 30 June 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 July 2024 and were signed on its behalf by
Mr J Brodie Director Company Registration No. 12031155
- 4 -
Newmeds Entertainment Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Newmeds Entertainment Limited is a private company, limited by shares, registered in England and Wales, registration number 12031155. The registered office is 59 Princes Avenue , Hull, East Yorkshire, HU5 3QY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% cost
Fixtures & fittings
25% cost
Computer equipment
25% cost
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
- 5 -
Newmeds Entertainment Limited Notes to the Accounts for the year ended 30 June 2024
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2023
3,629 
21,959 
9,535 
35,123 
Additions
1,180 
11,045 
- 
12,225 
At 30 June 2024
4,809 
33,004 
9,535 
47,348 
Depreciation
At 1 July 2023
1,161 
14,792 
3,115 
19,068 
Charge for the year
1,129 
5,357 
2,384 
8,870 
At 30 June 2024
2,290 
20,149 
5,499 
27,938 
Net book value
At 30 June 2024
2,519 
12,855 
4,036 
19,410 
At 30 June 2023
2,468 
7,167 
6,420 
16,055 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
4,977 
1,817 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
2,000 
1,922 
VAT
10,633 
4,972 
Trade creditors
- 
6,529 
Taxes and social security
2,974 
558 
Other creditors
377 
266 
Loans from directors
(1,528)
197 
14,456 
14,444 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,543 
12,567 
- 6 -
Newmeds Entertainment Limited Notes to the Accounts for the year ended 30 June 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Transactions with related parties
As at 30th June 2023 Newmeds Entertainment Limited was owed £1816.79 by Burning Car Ltd. This amount is interest free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 6 (2023: 6).
- 7 -