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REGISTERED NUMBER: 08442972 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

NEWSTONE DEVELOPMENTS LIMITED

NEWSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08442972)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NEWSTONE DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: Mr Vijen B. Shah





REGISTERED OFFICE: 1 Doughty Street
London
WC1N 2PH





REGISTERED NUMBER: 08442972 (England and Wales)






NEWSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08442972)

BALANCE SHEET
31ST MARCH 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 117 175

CURRENT ASSETS
Debtors 5 1,049,283 815,681
Cash at bank 279,265 232,909
1,328,548 1,048,590
CREDITORS
Amounts falling due within one year 6 2,170,072 1,835,727
NET CURRENT LIABILITIES (841,524 ) (787,137 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(841,407

)

(786,962

)

CAPITAL AND RESERVES
Called up share capital 8 101 101
Retained earnings (841,508 ) (787,063 )
SHAREHOLDERS' FUNDS (841,407 ) (786,962 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17th March 2025 and were signed by:





Mr Vijen B. Shah - Director


NEWSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08442972)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Newstone Developments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08442972 and registered office address is 1 Doughty Street, London, WC1N 2PH.

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.

Significant judgements and estimates
The Company is engaged in provision of construction services. Periodically it invoices based on certified work completed. This is a combination of Director estimates, customer acceptance and verification by qualified surveyors. Work in progress is estimated on a similar basis and accrued for under recoverable contracts.

Turnover
Turnover represents net invoiced sales of services and properties developed for resale, excluding value added tax. The sale of Property is recognised when there is an unconditional contract for the sale. Amounts owed for continuing construction works are accrued based on valuations of the Director and surveyor certifying completed works.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 5 (2023 - 7 ) .

NEWSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08442972)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 291
DEPRECIATION
At 1st April 2023 116
Charge for year 58
At 31st March 2024 174
NET BOOK VALUE
At 31st March 2024 117
At 31st March 2023 175

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 926,082 764,782
Other debtors 123,201 50,899
1,049,283 815,681

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 22,439 -
Other loans 1,247,302 605,372
Trade creditors 40,025 (56,642 )
Corporation tax - 9,999
Social security and other taxes 7,665 25,299
Other creditors 38,051 29,839
Directors' current accounts 843,247 1,207,110
Accrued expenses (28,657 ) 14,750
2,170,072 1,835,727

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank loans 22,439 -
Other loans 1,247,302 605,372
1,269,741 605,372

The loans are secured over the company's fixed asset investments.

NEWSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08442972)

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


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
101 Ordinary shares 1 101 101

9. RELATED PARTY DISCLOSURES

The Company has an outstanding loan with Mr. Vijen Bhimji Shah, a director of the Company, to the amount of £843,247.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr Vijen B. Shah.