Newbridge Memo Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07511516

Newbridge Memo Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 December 2024

Newbridge Memo Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2024

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Newbridge Memo Limited

Company Limited by Guarantee

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Newbridge Memo Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newbridge Memo Limited for the year ended 31 December 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Newbridge Memo Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Newbridge Memo Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newbridge Memo Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Newbridge Memo Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Newbridge Memo Limited. You consider that Newbridge Memo Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Newbridge Memo Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WALTER HUNTER & CO LIMITED Chartered accountants

24 Bridge Street Newport South Wales NP20 4SF

29 September 2025

Newbridge Memo Limited

Company Limited by Guarantee

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	6	8,711	2,249

Current assets

Stocks		3,832	1,360
Debtors	7	3,515	3,594
Cash at bank and in hand		82,891	35,552
		--------	--------
		90,238	40,506

Creditors: amounts falling due within one year	8	66,748	46,436
		--------	--------
Net current assets/(liabilities)		23,490	( 5,930)
		--------	-------
Total assets less current liabilities		32,201	( 3,681)
		--------	-------
Net assets/(liabilities)		32,201	( 3,681)
		--------	-------

Capital and reserves

Profit and loss account	32,201	( 3,681)
	--------	-------
Member funds/(deficit)	32,201	( 3,681)
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Newbridge Memo Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

L Baker

Director

Company registration number: 07511516

Newbridge Memo Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Celynen Collieries Institute & Memorial Hall, High Street, Newbridge, NP11 4FH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Grant income Grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Income tax

The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Equipment	-	33% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Company limited by guarantee

The charity is incorporated under the Companies Act 2006 and is limited by guarantee, each member having to contribute such amounts not exceeding £1 as may be required in the event of the company being wound up whilst they are still a member or within one year thereafter.

Number of members as at 31 December 2024 is 1 (2023: 1).

5. Employee numbers

The average number of persons employed by the company during the year amounted to 20 (2023: 12 ).

Included within this number are 10 employees (2023: 6) engaged to work for events as and when required .

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2024	53,501	3,556	57,057
Additions	9,064	–	9,064
	--------	-------	--------
At 31 December 2024	62,565	3,556	66,121
	--------	-------	--------
Depreciation
At 1 January 2024	52,819	1,989	54,808
Charge for the year	1,417	1,185	2,602
	--------	-------	--------
At 31 December 2024	54,236	3,174	57,410
	--------	-------	--------
Carrying amount
At 31 December 2024	8,329	382	8,711
	--------	-------	--------
At 31 December 2023	682	1,567	2,249
	--------	-------	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	3,515	3,594
	-------	-------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	9,147	4,731
Amounts owed to group undertakings and undertakings in which the company has a participating interest	14,032	30,251
Social security and other taxes	1,856	5,690
Other creditors	41,713	5,764
	--------	--------
	66,748	46,436
	--------	--------

9. Related party transactions

The company is a wholly owned subsidiary of Celynen Collieries Institute and Memorial Hall Limited, company number 07295916, charity number 1137112. At the year end this company owed Celynen Collieries Institute and Memorial Hall Limited £14,032 (2023: £30,251). During the year, this company recharged Celynen Collieries Institute and Memorial Hall Limited £13,594 (2023: £13,594) as a service charge for occupying the space used as the library. In addition, gross costs of £129,923 (2023: £49,712) were transferred to the charity, from Newbridge Memo Ltd, as these expenses are part of the 'Celebrating a Centenary of Heritage & Arts' project funded by the National Lottery Heritage Fund and projects funded by the Garfield Weston Foundation and National Lottery Community Fund Awards for All.