REGISTERED NUMBER: 05256304 (England and Wales)

Newfoundlands Limited

T/A

Metro Rod (Norwich)

Unaudited Financial Statements

for the year ended

31 December 2024

Page

Balance Sheet

1

Notes to the Financial Statements

2

to

7

FIXED ASSETS

Intangible assets

5

-

5,000

Tangible assets

6

675,808

685,380

675,808

690,380

CURRENT ASSETS

Debtors

7

348,417

280,219

Cash at bank and in hand

88,746

62,250

437,163

342,469

CREDITORS

Amounts falling due within one year

8

(428,936

)

(304,928

)

NET CURRENT ASSETS

8,227

37,541

TOTAL ASSETS LESS CURRENT LIABILITIES

684,035

727,921

CREDITORS

Amounts falling due after more than one year

9

(275,744

)

(329,803

)

PROVISIONS FOR LIABILITIES

(131,552

)

(108,699

)

NET ASSETS

276,739

289,419

CAPITAL AND RESERVES

Called up share capital

12

2

2

Retained earnings

276,737

289,417

SHAREHOLDERS' FUNDS

276,739

289,419

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 September 2025 and were signed by:

S J O'Brien - Director

1.	STATUTORY INFORMATION

Newfoundlands Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05256304

Registered office:

Newfoundlands

The Street

Tharston

Norwich

Norfolk

NR15 2YP

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Licences

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

Licences are amortised over the period they cover.

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.

Improvements to property

-

10% on cost

Plant and machinery

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Computer equipment

-

33.33% straight line

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 23 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

100,000

7,500

107,500

AMORTISATION

At 1 January 2024

95,000

7,500

102,500

Charge for year

5,000

-

5,000

At 31 December 2024

100,000

7,500

107,500

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

5,000

-

5,000

6.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

56,975

245,960

17,662

Additions

-

4,497

837

Disposals

-

-

-

At 31 December 2024

56,975

250,457

18,499

DEPRECIATION

At 1 January 2024

46,660

142,887

11,051

Charge for year

2,416

15,646

1,023

Eliminated on disposal

-

-

-

At 31 December 2024

49,076

158,533

12,074

NET BOOK VALUE

At 31 December 2024

7,899

91,924

6,425

At 31 December 2023

10,315

103,073

6,611

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

855,193

45,223

1,221,013

Additions

88,500

1,499

95,333

Disposals

(14,295

)

-

(14,295

)

At 31 December 2024

929,398

46,722

1,302,051

DEPRECIATION

At 1 January 2024

292,575

42,460

535,633

Charge for year

81,643

2,457

103,185

Eliminated on disposal

(12,575

)

-

(12,575

)

At 31 December 2024

361,643

44,917

626,243

NET BOOK VALUE

At 31 December 2024

567,755

1,805

675,808

At 31 December 2023

562,618

2,763

685,380

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

Motor

vehicles

£

COST

At 1 January 2024

610,427

Additions

88,500

At 31 December 2024

698,927

DEPRECIATION

At 1 January 2024

141,360

Charge for year

65,845

At 31 December 2024

207,205

NET BOOK VALUE

At 31 December 2024

491,722

At 31 December 2023

469,067

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

238,749

221,146

Amounts owed by group undertakings

50,200

50,200

Other debtors

59,468

8,873

348,417

280,219

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts (see note 10)

120,036

117,484

Trade creditors

167,495

78,876

Taxation and social security

112,697

76,130

Other creditors

18,708

22,438

428,936

304,928

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

10,002

20,003

Hire purchase contracts (see note 10)

265,742

309,800

275,744

329,803

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

120,036

117,484

Between one and five years

265,742

309,800

385,778

427,284

Non-cancellable

operating leases

2024

2023

£

£

Within one year

9,140

-

Between one and five years

12,186

-

21,326

-

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

385,778

427,284

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

Ordinary

1

2

2

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mrs J C L O'Brien

Balance outstanding at start of year

-

7,009

Amounts advanced

40,934

-

Amounts repaid

-

(7,009

)

Amounts written off

(40,934

)

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

S J O'Brien

Balance outstanding at start of year

-

7,009

Amounts advanced

51,757

-

Amounts repaid

-

(7,009

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

51,757

-