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Registered Number: 08027187
England and Wales

 

 

 

G & D NEWMAN LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 30 April 2023

End date: 29 April 2024
Directors Donna Louise Newman
Glenn Colin Newman
Registered Number 08027187
Registered Office The Granary at Fawsley
Fawsley
Daventry
Northamptonshire
NN11 3BU
Accountants Cypher
Monkswell
Little Baldon
Oxford
OX44 9PU
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 101,098    122,884 
101,098    122,884 
Current assets      
Stocks 5 3,200    3,600 
Debtors 6 49,978    8,475 
Cash at bank and in hand 10,680    27,612 
63,858    39,687 
Creditors: amount falling due within one year 7 (284,802)   (145,381)
Net current assets (220,944)   (105,694)
 
Total assets less current liabilities (119,846)   17,190 
Creditors: amount falling due after more than one year 8 (12,029)   (49,545)
Provisions for liabilities 9 (23,040)   (23,348)
Net assets (154,915)   (55,703)
 

Capital and reserves
     
Called up share capital 10 100    100 
Profit and loss account (155,015)   (55,803)
Shareholders' funds (154,915)   (55,703)
 


For the year ended 29 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 15 January 2025 and were signed on its behalf by:


-------------------------------
Glenn Colin Newman
Director
2
General Information
G & D NEWMAN LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08027187, registration address The Granary at Fawsley, Fawsley, Daventry, Northamptonshire, NN11 3BU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis::
Land and Buildings 25% Reducing Balance
Plant and Machinery 20% Straight Line
Fixtures and Fittings 12.5% Straight Line
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

2024
£
  2023
£
Administrative Expenses
Directors Salaries 25,128    25,000 
Directors Pension Contributions 8,400    7,140 
Directors Benefits in Kind 3,840    4,229 
37,368    36,369 
 
Number of directors to whom retirement benefits accrued Number   Number
Defined contribution plans 2    2 

3.

Average number of employees

Average number of employees during the year was 15 (2023 : 15).
4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 30 April 2023 25,211    54,985    39,108    96,854    5,113    221,271 
Additions   376      819    2,094    3,289 
Disposals          
At 29 April 2024 25,211    55,361    39,108    97,673    7,207    224,560 
Depreciation
At 30 April 2023 20,316    35,574    3,911    35,816    2,770    98,387 
Charge for year 1,224    9,702    7,821    4,772    1,556    25,075 
On disposals          
At 29 April 2024 21,540    45,276    11,732    40,588    4,326    123,462 
Net book values
Closing balance as at 29 April 2024 3,671    10,085    27,376    57,085    2,881    101,098 
Opening balance as at 30 April 2023 4,895    19,411    35,197    61,038    2,343    122,884 


5.

Stocks

2024
£
  2023
£
Stocks 3,200    3,600 
3,200    3,600 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 46,319   
Prepayments & Accrued Income 3,659    6,972 
Corporation Tax   1,503 
49,978    8,475 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 31,154    32,763 
Bank Loans & Overdrafts 12,579    10,050 
PAYE & Social Security 1,291    2,182 
Accrued Expenses 974    996 
Other Creditors 543   
Payment on Account   5,000 
Obligations under HP/Financial Leases 24,231    6,868 
Wages & Salaries Control Account 183    (157)
Deferred Income 193,452    67,730 
Pension Control 462    404 
Directors' Current Accounts 2,887    5,290 
VAT 17,046    14,255 
284,802    145,381 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 12,029    25,314 
Obligations Under HP/Financial Leases   24,231 
12,029    49,545 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 23,040    23,348 
23,040    23,348 

10.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3