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REGISTERED NUMBER: 03578711 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

NEWGATE CONSTRUCTION LIMITED

NEWGATE CONSTRUCTION LIMITED (REGISTERED NUMBER: 03578711)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWGATE CONSTRUCTION LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTORS: M J Newcombe
S J McGuinness
J B Newcombe
Mrs S J Carley





SECRETARY: M J Newcombe





REGISTERED OFFICE: Unit 1, Septimus
Hawkfield Business Park
Whitchurch
Bristol
Avon
BS14 0BL





REGISTERED NUMBER: 03578711 (England and Wales)





ACCOUNTANT: Grahame J Harbour Limited
1 Windrush Road
Keynsham
Bristol
Avon
BS31 1QL

NEWGATE CONSTRUCTION LIMITED (REGISTERED NUMBER: 03578711)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,954 56,724

CURRENT ASSETS
Stocks 456,155 456,829
Debtors 5 815,668 333,089
Cash at bank 321,977 362,628
1,593,800 1,152,546
CREDITORS
Amounts falling due within one year 6 744,489 393,474
NET CURRENT ASSETS 849,311 759,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

903,265

815,796

PROVISIONS FOR LIABILITIES 6,138 6,287
NET ASSETS 897,127 809,509

CAPITAL AND RESERVES
Called up share capital 499 530
Capital redemption reserve 501 470
Retained earnings 896,127 808,509
SHAREHOLDERS' FUNDS 897,127 809,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NEWGATE CONSTRUCTION LIMITED (REGISTERED NUMBER: 03578711)

Balance Sheet - continued
30 September 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





M J Newcombe - Director


NEWGATE CONSTRUCTION LIMITED (REGISTERED NUMBER: 03578711)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Newgate Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

NEWGATE CONSTRUCTION LIMITED (REGISTERED NUMBER: 03578711)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2023 80,211 77,722 157,933
Additions 3,715 6,667 10,382
At 30 September 2024 83,926 84,389 168,315
DEPRECIATION
At 1 October 2023 57,909 43,300 101,209
Charge for year 4,514 8,638 13,152
At 30 September 2024 62,423 51,938 114,361
NET BOOK VALUE
At 30 September 2024 21,503 32,451 53,954
At 30 September 2023 22,302 34,422 56,724

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 803,166 322,176
Prepayments and accrued income 12,502 10,913
815,668 333,089

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 317,391 201,782
Tax 42,910 32,694
Social security and other taxes 47,112 27,471
VAT 194,956 96,733
Accruals and deferred income 142,120 34,794
744,489 393,474

7. RELATED PARTY DISCLOSURES

Services to the value of £580,091 (2023 - £595,052) were received during the period from J & M Decorators, a business which is owned by M J Newcombe. In addition, £84,502 (2023 - £81,235) was paid to the business in respect of management and office services supplied to the company during the year.

8. ULTIMATE CONTROLLING PARTY

The company was under the control of the directors throughout the current year and the previous year.