Newton & Frost Fencing Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 03088038 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NEWTON & FROST FENCING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Frost

Mrs S A Frost

I E Croft

SECRETARY:

I Frost

REGISTERED OFFICE:

Downsview Yard

North Corner

Horam

Heathfield

East Sussex

TN21 9HJ

REGISTERED NUMBER:

03088038 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

251,711

330,776

251,711

330,776

CURRENT ASSETS

Stocks

702,268

684,644

Debtors

6

1,168,827

770,389

Cash at bank and in hand

5,376

3,590

1,876,471

1,458,623

CREDITORS

Amounts falling due within one year

7

(1,149,543

)

(805,155

)

NET CURRENT ASSETS

726,928

653,468

TOTAL ASSETS LESS CURRENT
LIABILITIES

978,639

984,244

CREDITORS

Amounts falling due after more than one
year

8

(350,721

)

(338,709

)

PROVISIONS FOR LIABILITIES

(21,651

)

(43,330

)

NET ASSETS

606,267

602,205

CAPITAL AND RESERVES

Called up share capital

10

200,000

Share premium

220,746

Retained earnings

185,521

181,459

606,267

602,205

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

I Frost - Director

1.	STATUTORY INFORMATION

Newton & Frost Fencing Ltd 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.

Goodwill

Goodwill relates to the amount paid in connection with the acquisition of the business in 1996 and has been fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

33% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2023 - 56 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

100,000

AMORTISATION

At 1 January 2024

and 31 December 2024

100,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

346,042

101,951

591,538

46,314

1,085,845

Additions

6,918

9,481

12,990

-

29,389

Disposals

-

(2,070

)

-

(2,070

)

At 31 December 2024

352,960

109,362

604,528

46,314

1,113,164

DEPRECIATION

At 1 January 2024

293,526

78,814

343,052

39,677

755,069

Charge for year

13,129

7,331

83,304

3,193

106,957

Eliminated on disposal

-

(573

)

-

(573

)

At 31 December 2024

306,655

85,572

426,356

42,870

861,453

NET BOOK VALUE

At 31 December 2024

46,305

23,790

178,172

3,444

251,711

At 31 December 2023

52,516

23,137

248,486

6,637

330,776

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

353,770

Additions

12,990

At 31 December 2024

366,760

DEPRECIATION

At 1 January 2024

145,095

Charge for year

70,167

At 31 December 2024

215,262

NET BOOK VALUE

At 31 December 2024

151,498

At 31 December 2023

208,675

6.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Trade debtors

173,368

261,677

Amounts recoverable on contract

833,119

382,565

Other debtors

23,499

39,770

VAT

79,135

21,224

Prepayments

36,146

38,065

1,145,267

743,301

2024

2023

£

Amounts falling due after more than one year:

Trade debtors

23,560

27,088

Aggregate amounts

1,168,827

770,389

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

33,527

157,328

Other loans

101,617

60,000

Hire purchase contracts

84,746

81,812

Trade creditors

842,330

440,613

Tax

3,897

(21,488

)

Social security and other taxes

79,765

72,296

Other creditors

3,186

-

Directors' current accounts

475

94

Accrued expenses

-

14,500

1,149,543

805,155

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans - 1-2 years

8,333

10,000

Bank loans - 2-5 years

-

8,333

Other loans - 1-2 years

101,617

60,000

Preference shares

30,000

Other loans - 2-5 years

116,439

63,663

Hire purchase contracts

94,332

166,713

350,721

338,709

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Other Loans

316,326

180,316

Other loans relate to pension fund loans secured by a fixed and floating charge over all of the company's assets. The directors Mr I Frost and Mrs S Frost are trustees and members of the company's self administered pension scheme.

10.	CALLED UP SHARE CAPITAL

2023

2022

£

Ordinary £1 A Shares

170,000

Ordinary £1 B Shares

10,000

Ordinary £1 C Shares

10,000

Ordinary £1 D Shares

10,000

Preference Shares

30,000

230,000

A resolution varying the share class and rights was passed on 24 September 2021.

11.	RELATED PARTY DISCLOSURES

During the year the company paid rent of £60,000 (2023: £60,000) on an open market basis to the company's self administered pension scheme, of which both Mr I Frost and Mrs S Frost are trustees.