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REGISTERED NUMBER: 04547333 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 April 2024

for

Newton Trailers Limited

Newton Trailers Limited (Registered number: 04547333)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


Newton Trailers Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs S R Smith
A D Smith



SECRETARY: A D Smith



REGISTERED OFFICE: Station Yard
Station Road
Ridgmont
Bedfordshire
MK43 0XP



REGISTERED NUMBER: 04547333 (England and Wales)



SENIOR STATUTORY AUDITOR: Howard Ashmore FCA



AUDITORS: Godfrey Laws & Co Limited
Statutory Auditors
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Newton Trailers Limited (Registered number: 04547333)

Strategic Report
for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

REVIEW OF BUSINESS
The tipping trailer and walking floor markets in the UK remain small, highly segmented and volatile. The company has a good portfolio of brands to offer to each segment, with each of the brands recognized by customers as desirable and the top two of their type.

Sales and profits have fallen during the year due to economic headwinds. We expect this to continue into the following trading year and through to the first half of 2025. The low level of overheads means the business will continue to generate profits albeit at a lower level.

PRINCIPAL RISKS AND UNCERTAINTIES
Sales into some sectors of the UK market remains a little uncertain due to economic headwinds.

We would see a reasonable year in 2024/2025 to be trading at a similar level to 2023/24

New participants in the industry will act as strong competitors to us in 2024/25 and will potentially squeeze both margins and sales revenues, there is large potential for disturbance in the supply of trailers, were are preparing for this by exploring additional product choices for the future.

DEVELOPMENT AND PERFORMANCE
As outline previously we are not a manufacturer but a dealer in a volatile sector. Our aim is to build resilience and a small overhead of very competent staff who have the capacity to scale either a downturn or an upturn with equal speed and effectiveness.

Our goal for 2024 is to continue to maintain our market share by supplying the best products in their respective segments whilst keeping a small overhead to remain agile in response to economic uncertainty.

KEY PERFORMANCE INDICATORS
Key financial performance indicators during the year were as follows:

- Turnover decreased to £38,957,373 (2023 - £51,518,089) -24.4%

- Operating profit decreased to £939,330 (2023 - £2,966,025) -68.3%

- Profit after tax for the year decreased to £710,018 (2023 - £2,388,542) -70.3%

- Shareholders equity increased to £4,995,695 (2023 - £4,885,677) + 2.3%

ON BEHALF OF THE BOARD:





A D Smith - Director


30 January 2025

Newton Trailers Limited (Registered number: 04547333)

Report of the Directors
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

DIVIDENDS
An interim dividend of £600,000 per share was paid on 30 April 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 April 2024 will be £ 600,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

Mrs S R Smith
A D Smith

POLITICAL DONATIONS AND EXPENDITURE
During the year the company made charitable donations totalling £1,651.28 which were comprised as follows:





STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Newton Trailers Limited (Registered number: 04547333)

Report of the Directors
for the Year Ended 30 April 2024


AUDITORS
The auditors, Godfrey Laws & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A D Smith - Director


30 January 2025

Report of the Independent Auditors to the Members of
Newton Trailers Limited

Opinion
We have audited the financial statements of Newton Trailers Limited (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Newton Trailers Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Newton Trailers Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatements due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. however, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:-

Based on our understanding of the Company, the industry and discussions with management we identified Financial Reporting Standard 102 and Companies Act 2006 and UK taxation legislation.
We obtained an understanding of how the Company complies with these requirement by discussions with management and those charged with governance.
We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur and whether there had been known instances of non compliance or suspected non compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
Identify and assess the risks of the financial statements, whether due to fraud and error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, misrepresentations, or intentional omissions.
Enquiries of management regarding compliance of Laws & Regulations and any known instances of non compliance;
Examining supporting documentation for all material balances, transactions and disclosures;
Evaluation of the selection and application of accounting policies;
Reviewing the appropriateness of journal entries made in the general ledger and other adjustments made in the preparation of financial statements;
Review of accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Newton Trailers Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Howard Ashmore FCA (Senior Statutory Auditor)
for and on behalf of Godfrey Laws & Co Limited
Statutory Auditors
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

30 January 2025

Newton Trailers Limited (Registered number: 04547333)

Income Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

TURNOVER 3 38,957,373 51,518,089

Cost of sales 35,678,041 46,851,711
GROSS PROFIT 3,279,332 4,666,378

Administrative expenses 2,212,553 1,705,767
OPERATING PROFIT 5 1,066,779 2,960,611

Interest receivable and similar income 49,397 5,648
1,116,176 2,966,259

Interest payable and similar expenses 6 176,846 234
PROFIT BEFORE TAXATION 939,330 2,966,025

Tax on profit 7 229,312 577,483
PROFIT FOR THE FINANCIAL YEAR 710,018 2,388,542

Newton Trailers Limited (Registered number: 04547333)

Other Comprehensive Income
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

PROFIT FOR THE YEAR 710,018 2,388,542


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

710,018

2,388,542

Newton Trailers Limited (Registered number: 04547333)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
CURRENT ASSETS
Stocks 9 9,272,649 7,964,969
Debtors 10 3,410,865 5,135,598
Cash at bank and in hand 95,636 1,263,526
12,779,150 14,364,093
CREDITORS
Amounts falling due within one year 11 7,608,455 9,228,416
NET CURRENT ASSETS 5,170,695 5,135,677
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,170,695

5,135,677

PROVISIONS FOR LIABILITIES 12 175,000 250,000
NET ASSETS 4,995,695 4,885,677

CAPITAL AND RESERVES
Called up share capital 13 1 1
Retained earnings 14 4,995,694 4,885,676
SHAREHOLDERS' FUNDS 4,995,695 4,885,677

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





A D Smith - Director


Newton Trailers Limited (Registered number: 04547333)

Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 1 3,097,134 3,097,135

Changes in equity
Dividends - (600,000 ) (600,000 )
Total comprehensive income - 2,388,542 2,388,542
Balance at 30 April 2023 1 4,885,676 4,885,677

Changes in equity
Dividends - (600,000 ) (600,000 )
Total comprehensive income - 710,018 710,018
Balance at 30 April 2024 1 4,995,694 4,995,695

Newton Trailers Limited (Registered number: 04547333)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Newton Trailers 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirement of paragraph 33.7;
the requirements of paragraph 24(b) of IFRS 6.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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.

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

Newton Trailers Limited (Registered number: 04547333)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

30.4.24 30.4.23
£    £   
Trailer sales 30,194,072 44,714,743
Trailer hire 5,306,974 4,527,747
Trailer parts, repairs & MOT's 3,344,751 2,154,861
Commissions 111,576 120,738
38,957,373 51,518,089

4. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
£    £   
Wages and salaries 1,691,955 1,417,978
Social security costs 149,977 154,409
Other pension costs 57,202 36,941
1,899,134 1,609,328

The average number of employees during the year was as follows:
30.4.24 30.4.23

Administration 20 18
Workshop 15 16
35 34

30.4.24 30.4.23
£    £   
Directors' remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.4.24 30.4.23
£    £   
Other operating leases 190,290 209,347
Foreign exchange differences (896 ) (9,576 )

Newton Trailers Limited (Registered number: 04547333)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.4.24 30.4.23
£    £   
Bank loan interest - 234
Interest Paid 176,846 -
176,846 234

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.4.24 30.4.23
£    £   
Current tax:
UK corporation tax 239,242 577,483
Prior year tax adjustment (9,930 ) -

Tax on profit 229,312 577,483

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.4.24 30.4.23
£    £   
Profit before tax 939,330 2,966,025
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19.493%)

234,833

578,167

Effects of:
Expenses not deductible for tax purposes 4,409 (684 )
Adjustments to tax charge in respect of previous periods (9,930 ) -
Total tax charge 229,312 577,483

8. DIVIDENDS
30.4.24 30.4.23
£    £   
Ordinary share of 1
Interim 600,000 600,000

9. STOCKS
30.4.24 30.4.23
£    £   
Finished goods 9,272,649 7,964,969

Newton Trailers Limited (Registered number: 04547333)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 3,189,207 5,065,803
Other debtors 149,871 -
Prepayments 71,787 69,795
3,410,865 5,135,598

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 1,034,873 1,789,708
Amounts owed to group undertakings 2,916,680 4,436,145
Tax (336,330 ) 149,304
Social security and other taxes - 66,593
VAT 480,886 1,167,218
Other creditors 2,725,068 234,621
Accrued defined contribution payments - 9,439
Accrued expenses 294,507 618,034
Deferred income 492,771 757,354
7,608,455 9,228,416

12. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Other provisions 175,000 250,000

A specific class of trailer has been recognised by the manufacturer as containing a defect that will require future rectification. Management has determined that the estimated cost of rectification will be £175,000.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1 Ordinary 1 1 1

14. RESERVES
Retained
earnings
£   

At 1 May 2023 4,885,676
Profit for the year 710,018
Dividends (600,000 )
At 30 April 2024 4,995,694

Newton Trailers Limited (Registered number: 04547333)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

15. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The company is part of a VAT group registered with it's holding company, Beachampton Group Limited. In accordance with VAT group registration rules, there is an automatic cross guarantee given to H M Revenue & Customs in respect of the combined VAT liability across the two entities. At the balance sheet date the combined VAT liability of the group was £480,885 (2023 - £1,193,798).

Barclays Bank PLC also holds a fixed and floating charge over all undertakings and assets present and future.

16. ULTIMATE CONTROLLING PARTY

The parent company Beachampton Group Limited, draws up consolidated financial statements which are publically available. The registered office of Beachampton Group Limited is Station Yard, Station Road, Ridgmont, Bedfordshire, MK43 0XP.