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Registration number: 03032928

New Leaf Publishing Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

New Leaf Publishing Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

New Leaf Publishing Limited

Company Information

Directors

Mr R A Bryant-Funnell

Miss S E Bryant-Funnell

Miss O R Bryant-Funnell

Company secretary

Mrs W N Bryant Funnell

Registered office

Studio 2 Willowfield Studio
67a Willowfield Road
Eastbourne
East Sussex
BN22 8AP

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

New Leaf Publishing Limited

(Registration number: 03032928)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,266

8,840

Current assets

 

Stocks

5

36,913

36,913

Debtors

6

25,828

91,854

Cash at bank and in hand

 

52,191

376,562

 

114,932

505,329

Creditors: Amounts falling due within one year

7

(506,343)

(612,523)

Net current liabilities

 

(391,411)

(107,194)

Net liabilities

 

(385,145)

(98,354)

Capital and reserves

 

Called up share capital

98

98

Retained earnings

(385,243)

(98,452)

Shareholders' deficit

 

(385,145)

(98,354)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mr R A Bryant-Funnell
Director

 

New Leaf Publishing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Studio 2 Willowfield Studio
67a Willowfield Road
Eastbourne
East Sussex
BN22 8AP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

New Leaf Publishing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

10% reducing balance

Fixtures,fittings and equipment

10% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

New Leaf Publishing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

 

New Leaf Publishing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

42,481

15,000

57,481

At 31 March 2024

42,481

15,000

57,481

Depreciation

At 1 April 2023

34,298

14,343

48,641

Charge for the year

2,509

65

2,574

At 31 March 2024

36,807

14,408

51,215

Carrying amount

At 31 March 2024

5,674

592

6,266

At 31 March 2023

8,183

657

8,840

5

Stocks

2024
£

2023
£

Other inventories

36,913

36,913

6

Debtors

2024
£

2023
£

Trade debtors

120

1,374

Taxation and social security

15,835

81,697

Prepayments

6,750

6,750

Other debtors

3,123

2,033

25,828

91,854

 

New Leaf Publishing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

63,407

77,419

Taxation and social security

8,474

-

Accruals and deferred income

432,046

532,688

Other creditors

1,318

1,318

Director loan account

1,098

1,098

506,343

612,523

8

Related party transactions

Summary of transactions with other related parties

Bryant-Funnell Limited
 Purchases made from company in which R A Bryant-Funnell and Mrs W N Bryant - Funnell have an interest as directors and shareholders
 

Expenditure with and payables to related parties

2024

Other related parties
£

Purchase of goods

23,333

2023

Other related parties
£

Purchase of goods

108,000