Company registration number 06234855 (England and Wales)
CHARLES NEWTON & CO (ESTATE AGENTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
CHARLES NEWTON & CO (ESTATE AGENTS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CHARLES NEWTON & CO (ESTATE AGENTS) LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
9,944
12,810
Current assets
Debtors
5
2,955
1,960
Cash at bank and in hand
14,858
15,651
17,813
17,611
Creditors: amounts falling due within one year
6
(97,663)
(87,168)
Net current liabilities
(79,850)
(69,557)
Net liabilities
(69,906)
(56,747)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(70,006)
(56,847)
Total equity
(69,906)
(56,747)
For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 9 June 2025
Mr C C Newton
Director
Company registration number 06234855 (England and Wales)
CHARLES NEWTON & CO (ESTATE AGENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information
Charles Newton & CO (Estate Agents) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Alexandra Street, Eastwood, Nottingham, NG16 3BD. The company registration number is 06234855.
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. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when services are provided.
1.4
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:
Land and buildings Leasehold
15% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
33% reducing balance
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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
CHARLES NEWTON & CO (ESTATE AGENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.
1.6
Leases
As lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The total number of employees in the year was :
2025
2024
Number
Number
Total
3
3
CHARLES NEWTON & CO (ESTATE AGENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 March 2024 and 28 February 2025
40,150
36,182
76,332
Depreciation and impairment
At 1 March 2024
36,723
26,799
63,522
Depreciation charged in the year
514
2,352
2,866
At 28 February 2025
37,237
29,151
66,388
Carrying amount
At 28 February 2025
2,913
7,031
9,944
At 29 February 2024
3,427
9,383
12,810
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
299
1,960
Other debtors
2,656
2,955
1,960
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
30,383
19,490
Taxation and social security
398
Other creditors
67,280
67,280
97,663
87,168