Registered number
09336428
NEWLINE PLASTICS LTD
Filleted Accounts
31 March 2024
NEWLINE PLASTICS LTD
Registered number: 09336428
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 40,083 53,444
Current assets
Stocks 40,000 40,000
Debtors 4 125,123 82,432
Cash at bank and in hand 561,018 522,574
726,141 645,006
Creditors: amounts falling due within one year 5 (67,806) (57,060)
Net current assets 658,335 587,946
Net assets 698,418 641,390
Capital and reserves
Called up share capital 100 100
Profit and loss account 698,318 641,290
Shareholders' funds 698,418 641,390
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Bourne
Director
Approved by the board on 21 November 2024
NEWLINE PLASTICS LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% pa on the straight line method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2023 118,323
At 31 March 2024 118,323
Depreciation
At 1 April 2023 64,879
Charge for the year 13,361
At 31 March 2024 78,240
Net book value
At 31 March 2024 40,083
At 31 March 2023 53,444
4 Debtors 2024 2023
£ £
Trade debtors 63,600 69,210
Other debtors 61,523 13,222
125,123 82,432
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 8,650 23,540
Taxation and social security costs 59,156 33,520
67,806 57,060
6 Other information
NEWLINE PLASTICS LTD is a private company limited by shares and incorporated in England. Its registered office is:
12 Enterprise Court
Metcalf Way
Crawley
West Sussex
RH11 7RW
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