Caseware UK (AP4) 2024.0.164 2024.0.164 2023-04-01falseThe principal activity of the company is that of the development of commercial property.22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10033908 2023-04-01 2024-03-31 10033908 2022-04-01 2023-03-31 10033908 2024-03-31 10033908 2023-03-31 10033908 c:Director2 2023-04-01 2024-03-31 10033908 d:CurrentFinancialInstruments 2024-03-31 10033908 d:CurrentFinancialInstruments 2023-03-31 10033908 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10033908 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10033908 d:ShareCapital 2024-03-31 10033908 d:ShareCapital 2023-03-31 10033908 d:RetainedEarningsAccumulatedLosses 2024-03-31 10033908 d:RetainedEarningsAccumulatedLosses 2023-03-31 10033908 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10033908 c:OrdinaryShareClass1 2024-03-31 10033908 c:OrdinaryShareClass1 2023-03-31 10033908 c:FRS102 2023-04-01 2024-03-31 10033908 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10033908 c:FullAccounts 2023-04-01 2024-03-31 10033908 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10033908 2 2023-04-01 2024-03-31 10033908 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10033908










Newmaquinn Commercial Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2024

 
Newmaquinn Commercial Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Newmaquinn Commercial Limited for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newmaquinn Commercial Limited for the year ended 31 March 2024 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Newmaquinn Commercial Limited, as a body, in accordance with the terms of our engagement letter dated 7 December 2023Our work has been undertaken solely to prepare for your approval the financial statements of Newmaquinn Commercial Limited  and state those matters that we have agreed to state to the Board of Directors of Newmaquinn Commercial Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newmaquinn Commercial Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Newmaquinn Commercial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Newmaquinn Commercial Limited. You consider that Newmaquinn Commercial Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Newmaquinn Commercial Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
18 March 2025
Page 1

 
Newmaquinn Commercial Limited
Registered number: 10033908

Balance Sheet
As at 31 March 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
4,074,282
5,870,175

Debtors: amounts falling due within one year
 4 
308,276
46,208

Cash at bank and in hand
  
319,704
575,615

  
4,702,262
6,491,998

Creditors: amounts falling due within one year
 5 
(4,219,665)
(6,017,090)

Net current assets
  
 
 
482,597
 
 
474,908

Total assets less current liabilities
  
482,597
474,908

  

Net assets
  
482,597
474,908


Capital and reserves
  

Called up share capital 
 6 
2
2

Profit and loss account
  
482,595
474,906

  
482,597
474,908


Page 2

 
Newmaquinn Commercial Limited
Registered number: 10033908

Balance Sheet (continued)
As at 31 March 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M W Quinn
Director
Date: 17 March 2025

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
Newmaquinn Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2024

1.


General information

Newmaquinn Commercial Limited is a private company limited by shares and is incorporated in England with the registration number 10033908. The address of the registered office is Highland Court Farm, Bridge, Canterbury, Kent, CT4 5HW
The principal activity of the company is that of the development of commercial property.
The financial statements are presented in Pound Sterling, and rounded to the nearest Pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
Newmaquinn Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
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.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
Newmaquinn Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2024

4.


Debtors

2024
2023
£
£


Trade debtors
-
43,442

Other debtors
300,475
475

Prepayments and accrued income
7,801
2,291

308,276
46,208



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
31,084
259,224

Corporation tax
1,803
11,444

Other taxation and social security
3,083
8,652

Other creditors
4,180,355
5,734,734

Accruals and deferred income
3,340
3,036

4,219,665
6,017,090



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary Shares shares of £1.00 each
2
2



7.


Controlling party

In the opinion of the directors, there is no overall controlling party.


Page 6