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REGISTERED NUMBER: 06013341 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Newton Fallowell (Lincoln) Limited

Newton Fallowell (Lincoln) Limited (Registered number: 06013341)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Newton Fallowell (Lincoln) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P E Compton-Sandy
Miss R Hoyles
Mrs A Wardle





REGISTERED OFFICE: 15 Newland
Lincoln
Lincolnshire
LN1 1XG





BUSINESS ADDRESS: 42 Silver Street
Lincoln
Lincolnshire
LN2 1EH





REGISTERED NUMBER: 06013341 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Newton Fallowell (Lincoln) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newton Fallowell (Lincoln) Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Newton Fallowell (Lincoln) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Newton Fallowell (Lincoln) Limited and state those matters that we have agreed to state to the Board of Directors of Newton Fallowell (Lincoln) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newton Fallowell (Lincoln) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Newton Fallowell (Lincoln) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Newton Fallowell (Lincoln) Limited. You consider that Newton Fallowell (Lincoln) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Newton Fallowell (Lincoln) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


14 November 2024

Newton Fallowell (Lincoln) Limited (Registered number: 06013341)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 272,531 340,663
Tangible assets 5 231,172 299,301
Investments 6 38,124 38,124
541,827 678,088

CURRENT ASSETS
Debtors 7 257,046 115,015
Cash at bank - 63,003
257,046 178,018
CREDITORS
Amounts falling due within one year 8 308,837 318,135
NET CURRENT LIABILITIES (51,791 ) (140,117 )
TOTAL ASSETS LESS CURRENT LIABILITIES 490,036 537,971

CREDITORS
Amounts falling due after more than one year 9 (572,020 ) (496,926 )

PROVISIONS FOR LIABILITIES (31,197 ) (38,694 )
NET (LIABILITIES)/ASSETS (113,181 ) 2,351

CAPITAL AND RESERVES
Called up share capital 11 550 550
Retained earnings (113,731 ) 1,801
SHAREHOLDERS' FUNDS (113,181 ) 2,351

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Newton Fallowell (Lincoln) Limited (Registered number: 06013341)

Balance Sheet - continued
31 December 2023


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 14 November 2024 and were signed on its behalf by:





P E Compton-Sandy - Director


Newton Fallowell (Lincoln) Limited (Registered number: 06013341)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Newton Fallowell (Lincoln) 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.

The Directors have prepared the accounts on the going concern basis on the assumption that the directors will continue to support the entity. At the year end the company had net current liabilities of £51,791 (2022: £140,117).

Turnover
Turnover represents fees from the selling and letting of properties. Revenue is recognised in the period to which it relates.

Goodwill
Goodwill being the amounts paid in connection with the acquisition of businesses in 2019 & 2020, is being amortised evenly over its estimated useful life of eight 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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Newton Fallowell (Lincoln) Limited (Registered number: 06013341)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts are capitalised in the balance sheet. The assets are depreciated over their estimated useful live.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 722,788
AMORTISATION
At 1 January 2023 382,125
Charge for year 68,132
At 31 December 2023 450,257
NET BOOK VALUE
At 31 December 2023 272,531
At 31 December 2022 340,663

Newton Fallowell (Lincoln) Limited (Registered number: 06013341)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 94,280 57,109 286,877 36,279 474,545
Additions - 987 - 2,165 3,152
At 31 December 2023 94,280 58,096 286,877 38,444 477,697
DEPRECIATION
At 1 January 2023 28,701 37,903 81,884 26,756 175,244
Charge for year 9,428 4,933 51,249 5,671 71,281
At 31 December 2023 38,129 42,836 133,133 32,427 246,525
NET BOOK VALUE
At 31 December 2023 56,151 15,260 153,744 6,017 231,172
At 31 December 2022 65,579 19,206 204,993 9,523 299,301

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 286,877
DEPRECIATION
At 1 January 2023 81,884
Charge for year 51,249
At 31 December 2023 133,133
NET BOOK VALUE
At 31 December 2023 153,744
At 31 December 2022 204,993

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 38,124
NET BOOK VALUE
At 31 December 2023 38,124
At 31 December 2022 38,124

Newton Fallowell (Lincoln) Limited (Registered number: 06013341)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 44,630 27,391
Other debtors 210,696 87,624
255,326 115,015

Amounts falling due after more than one year:
Other debtors 1,720 -

Aggregate amounts 257,046 115,015

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans 46,635 15,740
Hire purchase contracts 21,773 20,782
Trade creditors 28,708 14,928
Taxation and social security 137,962 147,284
Other creditors 73,759 119,401
308,837 318,135

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 413,220 221,501
Hire purchase contracts 149,016 170,397
Other creditors 9,784 105,028
572,020 496,926

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 339,914 170,155

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 23,495 -
Bank loans 436,360 237,241
Hire purchase contracts 170,789 191,179
630,644 428,420

Bank loans are secured against personal property of the directors and hire purchase agreements are secured against the asset to which they refer.

Newton Fallowell (Lincoln) Limited (Registered number: 06013341)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
445 B Ordinary £1 445 500
105 C Ordinary £1 105 50
550 550

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end director Miss R Hoyles owed the company £49,109 (2022: director P E Compton-Sandy, owed the Company £4,097).

13. RELATED PARTY DISCLOSURES

Related party loans

Included within Other Debtors under 1 year at the year end is a loan amount of £128,698 (2022: £69,488) due from companies under common control. The loans are unsecured, free of interest and repayable on demand.

14. ULTIMATE CONTROLLING PARTY

The controlling party is P E Compton-Sandy.