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REGISTERED NUMBER: 10743585 (England and Wales)















NEWPOINT STORES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






NEWPOINT STORES LIMITED (REGISTERED NUMBER: 10743585)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWPOINT STORES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: S A Edge





REGISTERED OFFICE: Killicks Ltd
35/37 Kingsway
Kirkby-in-Ashfield
Nottinghamshire
NG17 7DR





REGISTERED NUMBER: 10743585 (England and Wales)





ACCOUNTANTS: Killicks Limited
35/37 Kingsway
Kirkby in Ashfield
Nottinghamshire
NG17 7DR

NEWPOINT STORES LIMITED (REGISTERED NUMBER: 10743585)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 24,907 27,451
24,907 27,451

CURRENT ASSETS
Stocks 45,703 43,680
Debtors 6 2,213 1,655
Cash at bank and in hand 151,777 145,677
199,693 191,012
CREDITORS
Amounts falling due within one year 7 88,309 49,271
NET CURRENT ASSETS 111,384 141,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,291

169,192

CREDITORS
Amounts falling due after more than one
year

8

(25,000

)

(75,000

)

PROVISIONS FOR LIABILITIES (4,750 ) (5,250 )
NET ASSETS 106,541 88,942

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 106,540 88,941
106,541 88,942

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NEWPOINT STORES LIMITED (REGISTERED NUMBER: 10743585)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 4 December 2024 and were signed by:





S A Edge - Director


NEWPOINT STORES LIMITED (REGISTERED NUMBER: 10743585)

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

1. STATUTORY INFORMATION

Newpoint Stores 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill valued at £50,000 on the acquisition of the business in 2007 has been fully amortised evenly over its estimated life of five years and no longer has any value on the company's balance sheet.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 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.

NEWPOINT STORES LIMITED (REGISTERED NUMBER: 10743585)

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

2. ACCOUNTING POLICIES - continued

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.

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 50,000
AMORTISATION
At 1 June 2023
and 31 May 2024 50,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 68,374
Additions 4,800
At 31 May 2024 73,174
DEPRECIATION
At 1 June 2023 40,923
Charge for year 7,344
At 31 May 2024 48,267
NET BOOK VALUE
At 31 May 2024 24,907
At 31 May 2023 27,451

NEWPOINT STORES LIMITED (REGISTERED NUMBER: 10743585)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 300 300
Other debtors 1,913 1,355
2,213 1,655

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 717
Trade creditors 12,406 13,678
Taxation and social security 7,009 8,309
Other creditors 68,894 26,567
88,309 49,271

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 25,000 75,000

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £1,000 were paid to the director .

Rents of £13,000 (2023 £13,000)) have been paid to S.A. Edge.