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Registered number: NI050512
Newgrange Homes Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
JAMES SAVAGE & CO
88 LISTOODER ROAD
SAINTFIELD
BT24 7JX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI050512
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,989 22,486
17,989 22,486
CURRENT ASSETS
Stocks 5 687,950 667,495
Debtors 6 1,116 13,297
Cash at bank and in hand 8,255 9,518
697,321 690,310
Creditors: Amounts Falling Due Within One Year 7 (235,800 ) (235,750 )
NET CURRENT ASSETS (LIABILITIES) 461,521 454,560
TOTAL ASSETS LESS CURRENT LIABILITIES 479,510 477,046
Creditors: Amounts Falling Due After More Than One Year 8 (473,508 ) (472,186 )
NET ASSETS 6,002 4,860
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 5,902 4,760
SHAREHOLDERS' FUNDS 6,002 4,860
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kenneth Lunn
Director
11/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Newgrange Homes Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI050512 . The registered office is 35 Hillsborough Rd, Dromore, Co Down, BT25 1DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20%
Motor Vehicles 20%
Fixtures & Fittings 20%
2.3. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 June 2023 32,445
As at 31 May 2024 32,445
Depreciation
As at 1 June 2023 9,959
Provided during the period 4,497
As at 31 May 2024 14,456
Net Book Value
As at 31 May 2024 17,989
As at 1 June 2023 22,486
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Page 4
5. Stocks
2024 2023
£ £
Stock 687,950 667,495
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,116 13,297
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 200,000 200,000
Accruals and deferred income 800 750
Director's loan account 35,000 35,000
235,800 235,750
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,217 16,109
Bank loans 13,201 18,141
Directors loan account 450,090 437,936
473,508 472,186
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 10,217 16,109
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4