Company registration number SC278858 (Scotland)
Newmech Services Limited
Unaudited financial statements
for the year ended 31 March 2025
Pages for filing with registrar
Newmech Services Limited
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Newmech Services Limited
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newmech Services Limited for the year ended 31 March 2025 which comprise, the statement of financial position 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 ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-j une-20 20.

This report is made solely to the b oard of d irectors of Newmech Services Limited, as a body, in accordance with the terms of our engagement letter dated 15 April 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Newmech Services Limited and state those matters that we have agreed to state to the b oard of d irectors of Newmech Services Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newmech Services Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Newmech Services 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 Newmech Services Limited. You consider that Newmech Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Newmech Services 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 f inancial statements.

James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
26 May 2025
Newmech Services Limited
Statement of financial position
as at 31 March 2025
2
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
2
400,043
653,658
Current assets
Stocks
79,244
109,358
Debtors
3
203,277
182,457
Cash at bank and in hand
38
211
282,559
292,026
Creditors: amounts falling due within one year
4
(242,281)
(613,119)
Net current assets/(liabilities)
40,278
(321,093)
Total assets less current liabilities
440,321
332,565
Creditors: amounts falling due after more than one year
5
(39,166)
(68,402)
Net assets
401,155
264,163
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
401,055
264,063
Total equity
401,155
264,163

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Newmech Services Limited
Statement of financial position (continued)
as at 31 March 2025
3
The financial statements were approved by the board of directors and authorised for issue on 22 May 2025 and are signed on its behalf by:
George D. Gray
Helen A. Gray
Director
Director
Rachael C. Watson
Martin J. Gray
Director
Director
Company Registration No. SC278858
Newmech Services Limited
Notes to the financial statements
for the year ended 31 March 2025
4
1
Accounting policies
Company information

Newmech Services Limited is a private company limited by shares incorporated in Scotland. The registered office is Kinmundy Farm, Newmachar, Aberdeenshire, AB21 0US.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents revenue recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services, and excludes added tax.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% and 15% reducing balance
Fixtures and fittings
15% reducing balance and 3 years straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Newmech Services Limited
Notes to the financial statements (continued)
for the year ended 31 March 2025
1
Accounting policies (continued)
5
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.8
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Newmech Services Limited
Notes to the financial statements (continued)
for the year ended 31 March 2025
1
Accounting policies (continued)
6
1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024
1,454,015
Additions
23,976
Disposals
(292,283)
At 31 March 2025
1,185,708
Depreciation and impairment
At 1 April 2024
800,357
Depreciation charged in the year
71,385
Eliminated in respect of disposals
(86,077)
At 31 March 2025
785,665
Carrying amount
At 31 March 2025
400,043
At 31 March 2024
653,658
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
165,420
144,613
Corporation tax recoverable
11,230
11,230
Other debtors
26,627
26,614
203,277
182,457
Newmech Services Limited
Notes to the financial statements (continued)
for the year ended 31 March 2025
7
4
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
70,762
309,873
Trade creditors
71,688
172,640
Taxation and social security
28,177
34,548
Other creditors
71,654
96,058
242,281
613,119
5
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
39,166
68,402
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