Registered number
05142751
Newmark Limited
Filleted Accounts
31 May 2024
Newmark Limited
Registered number: 05142751
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 69,091 70,069
Current assets
Stocks 615,000 515,000
Debtors 4 381,077 445,869
Cash at bank and in hand 48,885 9,863
1,044,962 970,732
Creditors: amounts falling due within one year 5 (651,358) (543,211)
Net current assets 393,604 427,521
Total assets less current liabilities 462,695 497,590
Creditors: amounts falling due after more than one year 6 (20,746) (30,748)
Net assets 441,949 466,842
Capital and reserves
Called up share capital 150 150
Profit and loss account 441,799 466,692
Shareholders' funds 441,949 466,842
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.
Huseyin Dag
Director
Approved by the board on 4 December 2024
Newmark Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 15
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 114,425 184,692 299,117
Additions 16,295 - 16,295
At 31 May 2024 130,720 184,692 315,412
Depreciation
At 1 June 2023 96,691 132,357 229,048
Charge for the year 6,806 10,467 17,273
At 31 May 2024 103,497 142,824 246,321
Net book value
At 31 May 2024 27,223 41,868 69,091
At 31 May 2023 17,734 52,335 70,069
4 Debtors 2024 2023
£ £
Trade debtors 309,427 398,304
Other debtors 71,650 47,565
381,077 445,869
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 43,706 46,461
Trade creditors 361,685 240,139
Corporation tax 40,466 32,184
Other taxes and social security costs 34,385 45,117
Other creditors 171,116 179,310
651,358 543,211
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,746 30,748
7 Controlling party
Huseyin Dag , company directors controls the company by virtue of holding 50% of the issued share capital for each, holding 50 Ordinary Shares. There is other shareholders with with following shares :

Rahime Dag 30 Ordinary Share - 30%
Orhan Dag 20 Ordinary Share - 20%
Hobby Home London Limited 50B Ordinary Shares - (Only Dividend Rights)
8 Other information
Newmark Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Clock House Parade
North Circular Road
London
N13 6BG
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