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REGISTERED NUMBER: 08757591 (England and Wales)



















NEWTEQ SUPPORT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






NEWTEQ SUPPORT LIMITED (REGISTERED NUMBER: 08757591)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


NEWTEQ SUPPORT LIMITED (REGISTERED NUMBER: 08757591)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,252 17,632

CURRENT ASSETS
Stocks 11,290 15,066
Debtors 5 80,369 69,483
Cash at bank 1,090 3,212
92,749 87,761
CREDITORS
Amounts falling due within one year 6 20,879 23,898
NET CURRENT ASSETS 71,870 63,863
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,122

81,495

CREDITORS
Amounts falling due after more than one year 7 (348,756 ) (321,213 )

PROVISIONS FOR LIABILITIES (2,138 ) (3,350 )
NET LIABILITIES (267,772 ) (243,068 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (267,872 ) (243,168 )
SHAREHOLDERS' FUNDS (267,772 ) (243,068 )

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

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

The directors acknowledge their 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.

NEWTEQ SUPPORT LIMITED (REGISTERED NUMBER: 08757591)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





Mr J K Newland - Director


NEWTEQ SUPPORT LIMITED (REGISTERED NUMBER: 08757591)

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

1. STATUTORY INFORMATION

Newteq Support Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08757591

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Herts
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors are of the opinion that it is appropriate to prepare the accounts on the going concern basis, because they have confirmed their continued support for the company for the foreseeable future.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 and 25% 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.

NEWTEQ SUPPORT LIMITED (REGISTERED NUMBER: 08757591)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments 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 non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

NEWTEQ SUPPORT LIMITED (REGISTERED NUMBER: 08757591)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 58,634
DEPRECIATION
At 1 April 2023 41,002
Charge for year 6,380
At 31 March 2024 47,382
NET BOOK VALUE
At 31 March 2024 11,252
At 31 March 2023 17,632

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,487 10,702
Other debtors 61,882 58,781
80,369 69,483

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 3,407 9,932
Trade creditors 7,604 7,820
Taxation and social security 8,034 4,771
Other creditors 1,834 1,375
20,879 23,898

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 27,489 23,274
Other creditors 321,267 297,939
348,756 321,213

NEWTEQ SUPPORT LIMITED (REGISTERED NUMBER: 08757591)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,976 -

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 3,407 9,932

Amounts falling due between two and five years:
Bank loans - 2-5 years 14,513 23,274

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,976 -

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the directors £321,267 (2023: £297,939)). No interest is charged on
this loan which is repayable on demand.

Backitup Limited

A company in which Mr J Newland is a director and shareholder.

Amount due from related party at the balance sheet date: £18,552 (2023: £13,307).

No interest is payable on the loan and there are no agreed repayment terms.