Registered number
SC662516
NEWSBOYZ LTD
Filleted Accounts
30 June 2024
NEWSBOYZ LTD
Registered number: SC662516
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,922 14,580
14,922 14,580
Current assets
Stocks 49,210 43,350
Cash at bank and in hand 14,708 5,163
63,918 48,513
Creditors: amounts falling due within one year 4 (30,266) (23,270)
Net current assets 33,652 25,243
Total assets less current liabilities 48,574 39,823
Creditors: amounts falling due after more than one year 5 (40,370) (37,392)
Provisions for liabilities - -
Net assets 8,204 2,431
Capital and reserves
Called up share capital 100 100
Share premium - -
Profit and loss account 8,104 2,331
Shareholder's funds 8,204 2,431
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Nadeem Majid
Director
Approved by the board on 6 March 2025
NEWSBOYZ LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at 10% reducing balance.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 2
3 Tangible fixed assets
Fixtures & Fittings Total
£ £
Cost
At 1 July 2023 20,000 20,000
Additions 2,000 2,000
Surplus on revaluation - -
Disposals - -
At 30 June 2024 22,000 22,000
Depreciation
At 1 July 2023 5,420 5,420
Charge for the year 1,658 1,658
Surplus on revaluation - -
On disposals - -
At 30 June 2024 7,078 7,078
Net book value
At 30 June 2024 14,922 14,922
At 30 June 2023 14,580 14,580
4 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 1,034 1,130
Taxation and social security costs 21,094 13,861
Other creditors 8,138 8,279
30,266 23,270
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 40,370 37,392
Other creditors - -
40,370 37,392
6 Other information
NEWSBOYZ LTD is a private company limited by shares and incorporated in England. Its registered office is:
11 High Street
Penicuik
EH26 8HS
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