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COMPANY REGISTRATION NUMBER: 7198073
New Hampton Group Limited
Filleted Unaudited Financial Statements
31 March 2024
New Hampton Group Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
New Hampton Group Limited
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of New Hampton Group Limited
Year ended 31 March 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 March 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
VAGHELA & CO. (SERVICES) LTD. Chartered Certified Accountants
P.O. Box 10901 Birmingham B1 1ZQ
28 March 2025
New Hampton Group Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
160,732
152,565
Current assets
Debtors
7
125,000
177,500
Cash at bank and in hand
24,875
26,914
---------
---------
149,875
204,414
Creditors: amounts falling due within one year
8
173,015
215,006
---------
---------
Net current liabilities
23,140
10,592
---------
---------
Total assets less current liabilities
137,592
141,973
Provisions
Taxation including deferred tax
22,115
22,115
---------
---------
Net assets
115,477
119,858
---------
---------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
115,377
119,758
---------
---------
Shareholders funds
115,477
119,858
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
New Hampton Group Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Mr N.H Parmar
Director
Company registration number: 7198073
New Hampton Group Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Vaghela & Co (Services) Ltd, 145 Granville Street, Birmingham, B1 1SB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
15% straight line
Fixtures & Fittings
-
15% straight line
Equipment
-
15 % straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tax on (loss)/profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
3,194
Deferred tax:
Origination and reversal of timing differences
( 464)
----
-------
Tax on (loss)/profit
2,730
----
-------
Reconciliation of tax expense
The tax assessed on the (loss)/profit on ordinary activities for the year is the same as (2023: lower than) the standard rate of corporation tax in the UK of 19 % (2023: 19 %).
2024
2023
£
£
(Loss)/profit on ordinary activities before taxation
( 4,381)
14,549
-------
--------
(Loss)/profit on ordinary activities by rate of tax
2,764
Effect of expenses not deductible for tax purposes
676
Effect of capital allowances and depreciation
( 710)
-------
--------
Tax on (loss)/profit
2,730
-------
--------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Equipment
User defined asset
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
150,000
7,714
3,679
7,230
168,623
Additions
10,022
10,022
---------
-------
-------
-------
--------
---------
At 31 Mar 2024
150,000
7,714
3,679
7,230
10,022
178,645
---------
-------
-------
-------
--------
---------
Depreciation
At 1 Apr 2023
6,943
3,678
5,437
16,058
Charge for the year
770
1,085
1,855
---------
-------
-------
-------
--------
---------
At 31 Mar 2024
7,713
3,678
6,522
17,913
---------
-------
-------
-------
--------
---------
Carrying amount
At 31 Mar 2024
150,000
1
1
708
10,022
160,732
---------
-------
-------
-------
--------
---------
At 31 Mar 2023
150,000
771
1
1,793
152,565
---------
-------
-------
-------
--------
---------
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
52,500
Other debtors
125,000
125,000
---------
---------
125,000
177,500
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
34,323
13,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest
45,000
Corporation tax
3,194
Social security and other taxes
6,071
6,071
Other creditors
132,621
147,741
---------
---------
173,015
215,006
---------
---------
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
22,115
22,115
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Fair value adjustment of financial assets
22,115
22,115
--------
--------
10. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
11. Director's advances, credits and guarantees
Advances to and loans from the director Mr N. Parmar were made during the accounting period. At the end of the year under review £92,771 (2022 - £94,491) was owed to the director. The loan is interest free and for an indefinite period, however it is repayable on demand.
12. Related party transactions