NEWWAY OFFICE FURNITURE LTD


Directors	LENAHAN, Hayley Louise
	NEWSOME, Lawrence Keith
	NEWSOME, Luke Todd
	NEWSOME, Sheila Margaret


Company Secretary	NEWSOME, Sheila Margaret


Registered Address	Britannia Mills Gelderd Road
	Birstall
	Batley
	WF17 9QD


Registered Number	08020632 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		7,500		10,000
Tangible assets	4		52,989		68,889
			60,489		78,889
Current assets
Stocks	5	6,500		4,500
Debtors	6	65,571		66,620
Cash at bank and on hand		199,924		130,022
		271,995		201,142
Creditors amounts falling due within one year	7	(241,800)		(184,527)
Net current assets (liabilities)			30,195		16,615
Total assets less current liabilities			90,684		95,504
Creditors amounts falling due after one year	8		(25,692)		(34,999)
Provisions for liabilities	11		(10,068)		(13,089)
Net assets			54,924		47,416
Capital and reserves
Called up share capital			100		100
Profit and loss account			54,824		47,316
Shareholders' funds			54,924		47,416

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 17 October 2025, and are signed on its behalf by:

NEWSOME, Lawrence Keith
Director

NEWSOME, Sheila Margaret
Director

Registered Company No. 08020632

NEWWAY OFFICE FURNITURE LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Current 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.

Current 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.

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.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


	Reducing balance (%)	Straight line (years)
Fixtures and fittings	15	-
Vehicles	25	-
Office Equipment	-	3

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	9		9

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	125,000	125,000
At 31 March 25	125,000	125,000
Amortisation and impairment
At 01 April 24	115,000	115,000
Charge for year	2,500	2,500
At 31 March 25	117,500	117,500
Net book value
At 31 March 25	7,500	7,500
At 31 March 24	10,000	10,000

4.	Tangible fixed assets

	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	112,454	29,012	4,607	146,073
Additions	-	-	282	282
At 31 March 25	112,454	29,012	4,889	146,355
Depreciation and impairment
At 01 April 24	59,223	14,553	3,408	77,184
Charge for year	13,308	2,169	705	16,182
At 31 March 25	72,531	16,722	4,113	93,366
Net book value
At 31 March 25	39,923	12,290	776	52,989
At 31 March 24	53,231	14,459	1,199	68,889

5.	Stocks

	2025	2024
	£	£
Finished goods	6,500	4,500
Total	6,500	4,500

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	65,571	66,620
Total	65,571	66,620

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	26,934	19,590
Bank borrowings and overdrafts	5,556	5,556
Taxation and social security	76,977	81,293
Finance lease and HP contracts	3,519	3,519
Other creditors	104,814	74,569
Accrued liabilities and deferred income	24,000	-
Total	241,800	184,527

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	23,210	28,703
Other creditors	2,482	6,296
Total	25,692	34,999


	Other creditors relate to a HP contract.

9.	Secured creditors
	The hire purchase liability was secured on the assets to which it relates.

10.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	6,002		9,814

11.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	10,068	13,089
Total	10,068	13,089

12.	Directors advances, credits and guarantees
	Included within creditors, amounts due within one year were loans from the directors of £96,678 (2024:£63,712). The loans were interest free, with no fixed date for repayment. Under the BBLS scheme the government provided a 100% guarantee. As at the balance sheet date, this represented a bank loan guarantee of £28,766 (2024: £34,260).