Company Registration No. 00315140 (England and Wales)
NEWMAN'S FOOTWEAR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 DECEMBER 2024
29 December 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
NEWMAN'S FOOTWEAR LIMITED
CONTENTS
Page
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
NEWMAN'S FOOTWEAR LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 29 DECEMBER 2024
- 1 -

The director presents his annual report and financial statements for the year ended 29 December 2024.

Principal activities

The principal activity of the company continued to be that of the sale of children's clothing and accessories.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

A Newman
Statement of director's responsibilities

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
A Newman
Director
28 November 2025
NEWMAN'S FOOTWEAR LIMITED
BALANCE SHEET
AS AT
29 DECEMBER 2024
29 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
438,200
446,800
Current assets
Stocks
-
0
28,381
Debtors
5
5,384
5,597
Cash at bank and in hand
4,650
17,298
10,034
51,276
Creditors: amounts falling due within one year
6
(139,666)
(122,866)
Net current liabilities
(129,632)
(71,590)
Total assets less current liabilities
308,568
375,210
Capital and reserves
Called up share capital
60,000
60,000
Revaluation reserve
7
153,671
156,300
Profit and loss reserves
94,897
158,910
Total equity
308,568
375,210

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 28 November 2025
A Newman
Director
Company Registration No. 00315140
NEWMAN'S FOOTWEAR LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 DECEMBER 2024
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 30 December 2022
60,000
158,929
(93,107)
125,822
Year ended 29 December 2023:
Profit and total comprehensive income
-
-
249,388
249,388
Transfers
-
(2,629)
2,629
-
Balance at 29 December 2023
60,000
156,300
158,910
375,210
Year ended 29 December 2024:
Loss and total comprehensive income
-
-
(66,642)
(66,642)
Transfers
-
(2,629)
2,629
-
Balance at 29 December 2024
60,000
153,671
94,897
308,568
NEWMAN'S FOOTWEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Newman's Footwear Limited is a private company limited by shares incorporated in England and Wales. The registered office is River Mill, Dixon Street, Blackburn, Lancashire, BB2 1TR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold property. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Intangible fixed assets comprise website development costs and are measured at cost.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website costs
- 20% reducing balance
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
- 2% straight line
Plant and equipment
- 20% straight line
Motor vehicles
- 25% reducing balance
Other fixed assets
- 20% reducing balance
NEWMAN'S FOOTWEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

NEWMAN'S FOOTWEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are recognised at transaction price

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Intangible fixed assets
Website costs
£
Cost
At 30 December 2023 and 29 December 2024
8,150
Amortisation and impairment
At 30 December 2023 and 29 December 2024
8,150
Carrying amount
At 29 December 2024
-
0
At 29 December 2023
-
0
NEWMAN'S FOOTWEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2024
- 7 -
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Motor vehicles
Other fixed assets
Total
£
£
£
£
£
Cost or valuation
At 30 December 2023
550,000
6,767
49,938
16,482
623,187
Disposals
-
0
-
0
(5,000)
-
0
(5,000)
At 29 December 2024
550,000
6,767
44,938
16,482
618,187
Depreciation and impairment
At 30 December 2023
103,200
6,767
49,938
16,482
176,387
Depreciation charged in the year
8,600
-
0
-
0
-
0
8,600
Eliminated in respect of disposals
-
0
-
0
(5,000)
-
0
(5,000)
At 29 December 2024
111,800
6,767
44,938
16,482
179,987
Carrying amount
At 29 December 2024
438,200
-
0
-
0
-
0
438,200
At 29 December 2023
446,800
-
0
-
0
-
0
446,800

Freehold land and buildings are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Freehold land and buildings
2024
2023
£
£
Cost
418,570
418,570
Accumulated depreciation
(134,042)
(128,071)
Carrying value
284,528
290,499
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
134
Other debtors
543
348
Prepayments and accrued income
4,841
5,115
5,384
5,597
NEWMAN'S FOOTWEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2024
- 8 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
9,183
Other taxation and social security
-
0
615
Other creditors
137,796
111,198
Accruals and deferred income
1,870
1,870
139,666
122,866
7
Revaluation reserve

The revaluation reserve is the cumulative net effect of the revaluation of land and buildings.

NEWMAN'S FOOTWEAR LIMITED
DETAILED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 29 DECEMBER 2024
- 9 -
2024
2023
£
£
£
£
Turnover
Sales of goods
21,932
92,689
Cost of sales
(64,820)
(149,329)
Gross loss
(42,888)
(56,640)
Distribution costs
(355)
(437)
Administrative expenses
(23,399)
(88,664)
Operating loss
(66,642)
(145,741)
Other gains and losses
Subsidiaries - Amounts written off / losses on disposal
-
93,891
Amounts written off financial liabilities
-
301,238
-
395,129
(Loss)/profit before taxation
(66,642)
249,388
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