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Registration number: 07169924

New Move Estate Agency Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

New Move Estate Agency Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

New Move Estate Agency Ltd

Company Information

Directors

Mr Lee Gene Raymond

Mr John Soteris Michael

Registered office

235 Three Bridges Road
Crawley
RH10 1LS

Accountants

Blackman Terry Accountants Ltd
Chartered Certified Accountants
Bolney Place
Cowfold Road
Bolney
Haywards Heath
West Sussex
RH17 5QT

 

New Move Estate Agency Ltd

(Registration number: 07169924)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

2,500

Tangible assets

5

7,975

9,135

 

7,975

11,635

Current assets

 

Debtors

6

18,198

12,702

Cash at bank and in hand

 

56,895

46,413

 

75,093

59,115

Creditors: Amounts falling due within one year

7

(27,110)

(15,134)

Net current assets

 

47,983

43,981

Total assets less current liabilities

 

55,958

55,616

Creditors: Amounts falling due after more than one year

7

(29,463)

(34,241)

Net assets

 

26,495

21,375

Capital and reserves

 

Called up share capital

225

225

Retained earnings

26,270

21,150

Shareholders' funds

 

26,495

21,375

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 November 2024 and signed on its behalf by:
 

 

New Move Estate Agency Ltd

(Registration number: 07169924)
Balance Sheet as at 31 March 2024

.........................................
Mr Lee Gene Raymond
Director

.........................................
Mr John Soteris Michael
Director

 

New Move Estate Agency Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
235 Three Bridges Road
Crawley
RH10 1LS

These financial statements were authorised for issue by the Board on 22 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

New Move Estate Agency Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Fixture, Fittings & equipment

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 6).

 

New Move Estate Agency Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

75,000

75,000

At 31 March 2024

75,000

75,000

Amortisation

At 1 April 2023

72,500

72,500

Amortisation charge

2,500

2,500

At 31 March 2024

75,000

75,000

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

2,500

2,500

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

26,936

26,936

Additions

1,498

1,498

At 31 March 2024

28,434

28,434

Depreciation

At 1 April 2023

17,801

17,801

Charge for the year

2,658

2,658

At 31 March 2024

20,459

20,459

Carrying amount

At 31 March 2024

7,975

7,975

At 31 March 2023

9,135

9,135

 

New Move Estate Agency Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Other debtors

18,198

12,702

 

18,198

12,702

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

26,759

14,799

Accruals and deferred income

250

250

Other creditors

101

85

27,110

15,134

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

29,463

34,241

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

29,463

34,241