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NEWTURN DEVELOPMENTS LIMITED

Registered Number
12956609
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

NEWTURN DEVELOPMENTS LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

Darren Peter Newby
Stuart James Turnbull

Registered Address

Unit 4 City Limits
Danehill
Reading
RG6 4UP

Registered Number

12956609 (England and Wales)
NEWTURN DEVELOPMENTS LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets351,22624,388
51,22624,388
Current assets
Stocks41,892,174837,521
Debtors5459,293233,379
Cash at bank and on hand84,75365,251
2,436,2201,136,151
Creditors amounts falling due within one year6(243,227)(710,637)
Net current assets (liabilities)2,192,993425,514
Total assets less current liabilities2,244,219449,902
Creditors amounts falling due after one year7(2,198,953)(532,156)
Net assets45,266(82,254)
Capital and reserves
Called up share capital100100
Profit and loss account45,166(82,354)
Shareholders' funds45,266(82,254)
The financial statements were approved and authorised for issue by the Board of Directors on 9 March 2025, and are signed on its behalf by:
Darren Peter Newby
Director
Registered Company No. 12956609
NEWTURN DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Office Equipment-4
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year33
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 November 2224,733-24,733
Additions33,0002,12835,128
At 31 October 2357,7332,12859,861
Depreciation and impairment
At 01 November 22345-345
Charge for year8,0272638,290
At 31 October 238,3722638,635
Net book value
At 31 October 2349,3611,86551,226
At 31 October 2224,388-24,388
4.Stocks

2023

2022

££
Work in progress1,892,174837,521
Total1,892,174837,521
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables123,977-
Amounts owed by group undertakings227,00084,950
Other debtors98,35536,534
Prepayments and accrued income9,96198,395
Total459,293219,879
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. 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.
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables203,91068,219
Bank borrowings and overdrafts-500,000
Taxation and social security24,46531,712
Finance lease and HP contracts10,270-
Other creditors4,582110,706
Total243,227710,637
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts274,240-
Amounts owed to related parties1,899,656532,156
Other creditors25,057-
Total2,198,953532,156
8.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts25,058-
9.Related party transactions
Included within sales is an amount totalling £103,314.57, which relates to a sale at cost to a group entity.