REGISTERED NUMBER: 09146388 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

New Era Products Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I Biggin

REGISTERED OFFICE:

Units 1 & 2

Apsley Farm Industrial Units

Widerwick Road East

East Grinstead

West Sussex

RH19 3NT

REGISTERED NUMBER:

09146388 (England and Wales)

ACCOUNTANT:

CSL Partnership Limited

Chartered Certified Accountants

238 Station Road

Addlestone

Surrey

KT15 2PS

CURRENT ASSETS

Inventories

316,345

487,227

Debtors

5

245,249

230,712

Cash at bank

469,947

316,253

1,031,541

1,034,192

CREDITORS

Amounts falling due within one year

6

(315,974

)

(388,979

)

NET CURRENT ASSETS

715,567

645,213

TOTAL ASSETS LESS CURRENT LIABILITIES

715,567

645,213

CREDITORS

Amounts falling due after more than one year

7

(2,917

)

(9,917

)

NET ASSETS

712,650

635,296

CAPITAL AND RESERVES

Called up share capital

2,001

2,001

Retained earnings

710,649

633,295

712,650

635,296

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2025 and were signed by:

I Biggin - Director

1.	STATUTORY INFORMATION

New Era Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue

Revenue is measured at fair value and represents revenues receivable under contracts net of value added tax. Where contractual obligations have been partially performed at the balance sheet date, revenue is recognised to the extent that the company has obtained the right to consideration through its performance.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

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.

Inventories

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

20,921

AMORTISATION

At 1 January 2024

and 31 December 2024

20,921

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

216,949

202,412

Directors' current accounts

22,000

22,000

Prepayments

6,300

6,300

245,249

230,712

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

7,000

7,000

Trade creditors

212,857

280,938

Tax

24,793

26,671

Social security and other taxes

7,918

14,979

Pensions creditor

170

3,159

VAT

56,986

51,291

Other creditors

-

841

Accrued expenses

6,250

4,100

315,974

388,979

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

2,917

7,000

Bank loans - 2-5 years

-

2,917

2,917

9,917

8.	RELATED PARTY DISCLOSURES

At the year end the director owed £22,000 (2023 owed £22,000) in respect of his director's loan accounts.

The loan is interest free and repayable on demand.

9.	POST BALANCE SHEET EVENTS

On 17 April 2025, the Company repurchased 450 ordinary shares of £1 each for a total consideration of £75,000. These shares were subsequently cancelled, reducing the issued share capital of the Company to 1,551.