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REGISTERED NUMBER: 09262211 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

S. I. NEWLOVE LIMITED

S. I. NEWLOVE LIMITED (REGISTERED NUMBER: 09262211)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S. I. NEWLOVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: S I Newlove
J R Hakner





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 09262211 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

S. I. NEWLOVE LIMITED (REGISTERED NUMBER: 09262211)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57,556 39,548

CURRENT ASSETS
Stocks 2,500 1,425
Debtors 5 29,155 18,799
Cash at bank 107,133 41,187
138,788 61,411
CREDITORS
Amounts falling due within one year 6 75,248 26,284
NET CURRENT ASSETS 63,540 35,127
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,096

74,675

CREDITORS
Amounts falling due after more than one
year

7

(17,125

)

(6,841

)

PROVISIONS FOR LIABILITIES (15,253 ) (7,514 )
NET ASSETS 88,718 60,320

CAPITAL AND RESERVES
Called up share capital 9 125 125
Share premium 5,975 5,975
Retained earnings 82,618 54,220
SHAREHOLDERS' FUNDS 88,718 60,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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.

S. I. NEWLOVE LIMITED (REGISTERED NUMBER: 09262211)

BALANCE SHEET - continued
31 OCTOBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





S I Newlove - Director


S. I. NEWLOVE LIMITED (REGISTERED NUMBER: 09262211)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

S. I. Newlove 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable from joinery work, excluding discounts, rebates, value added tax and other sales taxes and is recognised when the services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

S. I. NEWLOVE LIMITED (REGISTERED NUMBER: 09262211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

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 the statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the statement of income and retained earnings on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates an auto-enrolment pension scheme. Contributions payable to the company's pension scheme are charged to the statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 121,175
Additions 36,202
Disposals (6,000 )
At 31 October 2024 151,377
DEPRECIATION
At 1 November 2023 81,627
Charge for year 17,126
Eliminated on disposal (4,932 )
At 31 October 2024 93,821
NET BOOK VALUE
At 31 October 2024 57,556
At 31 October 2023 39,548

The net book value of tangible fixed assets includes £ 20,622 in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors - 16,598
Other debtors 29,155 2,201
29,155 18,799

S. I. NEWLOVE LIMITED (REGISTERED NUMBER: 09262211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 3,991 3,894
Hire purchase contracts 5,749 -
Trade creditors 41,412 7,648
Taxation and social security 20,182 9,443
Other creditors 3,914 5,299
75,248 26,284

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 2,753 6,841
Hire purchase contracts 14,372 -
17,125 6,841

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Hire purchase contracts 20,121 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary A £1 100 100
25 Ordinary B £1 25 25
125 125