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Registered Number: 08520272
England and Wales

 

 

 

NEWMEXICAN VENTURES LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
 
 
Notes
 
31/05/2024
£
  31/05/2023
£
Fixed assets      
Intangible fixed assets 3 543    662 
Tangible fixed assets 4 78,816    75,915 
79,359    76,577 
Current assets      
Stocks 3,500    4,500 
Debtors: amounts falling due within one year 30,250    5,074 
Debtors: amounts falling due after one year   41,341 
Cash at bank and in hand 47,501    87,100 
81,251    138,015 
Creditors: amount falling due within one year (119,946)   (166,564)
Net current assets (38,695)   (28,549)
 
Total assets less current liabilities 40,664    48,028 
Creditors: amount falling due after more than one year (29,578)   (40,828)
Provisions for liabilities (4,872)   (3,308)
Net assets 6,214    3,892 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 6,114    3,792 
Shareholders' funds 6,214    3,892 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 May 2025 and were signed on its behalf by:


-------------------------------
Rico AMINIMOGHADAM
Director
1
General Information
NEWMEXICAN VENTURES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08520272, registration address 390 LONDON ROAD, MITCHAM, CR4 4EA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10% Straight Line
Motor Vehicles 5% Straight Line
Fixtures and Fittings 10% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 24 (2023 : 12).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2023 1,191    1,191 
Additions  
Disposals  
At 31 May 2024 1,191    1,191 
Amortisation
At 01 June 2023 529    529 
Charge for year 119    119 
On disposals  
At 31 May 2024 648    648 
Net book values
At 31 May 2024 543    543 
At 31 May 2023 662    662 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 June 2023 8,170    28,500    103,145    139,815 
Additions     12,223    12,223 
Disposals (8,170)     (23,425)   (31,595)
At 31 May 2024   28,500    91,943    120,443 
Depreciation
At 01 June 2023 7,761    7,746    42,082    57,589 
Charge for year   5,700    7,979    13,679 
On disposals (7,761)     (21,880)   (29,641)
At 31 May 2024   13,446    28,181    41,627 
Net book values
Closing balance as at 31 May 2024   15,054    63,762    78,816 
Opening balance as at 01 June 2023 (1,225)   20,754    56,386    75,915 


2