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Registration number: 02537163

Newreturn Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Newreturn Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Newreturn Limited

Company Information

Director

J. Prichard

Company secretary

S Howarth

Registered office

11 Riverview
The Embankment Business Park
Vale Road
Stockport
SK4 3GN

Accountants

McKellens Limited
Chartered Accountants
11 Riverview
The Embankment Business Park
Vale Road
Heaton Mersey
Stockport
SK4 3GN

 

Newreturn Limited

(Registration number: 02537163)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

847,786

864,731

Current assets

 

Cash at bank and in hand

 

41,534

32,327

Creditors: Amounts falling due within one year

5

(24,328)

(27,016)

Net current assets

 

17,206

5,311

Net assets

 

864,992

870,042

Capital and reserves

 

Called up share capital

6

600

600

Capital redemption reserve

400

400

Retained earnings

863,992

869,042

Shareholders' funds

 

864,992

870,042

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 December 2024
 

J. Prichard
Director

   
     
 

Newreturn Limited

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:
11 Riverview
The Embankment Business Park
Vale Road
Stockport
SK4 3GN

These financial statements were authorised for issue by the director on 2 December 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.

Depreciation

Asset class

Depreciation method and rate

Office equipment

4 years straight line

Investments

Investments comprise of funds listed on the stock market and are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Newreturn Limited

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

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Newreturn Limited

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

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

864,731

864,731

Fair value adjustments

54,306

54,306

Additions

13,960

13,960

Disposals

(85,211)

(85,211)

At 31 March 2024

847,786

847,786

Impairment

Carrying amount

At 31 March 2024

847,786

847,786

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

2,028

2,016

Other creditors

22,300

25,000

24,328

27,016

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

600

600

600

600