COMPANY REGISTRATION NUMBER:
15401531
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Newcastle Flooring NUL Limited |
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Filleted Unaudited Financial Statements |
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Newcastle Flooring NUL Limited |
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Statement of Financial Position |
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31 January 2025
Fixed assets
Current assets
|
Stocks |
100 |
|
Debtors |
6 |
43,980 |
|
Cash at bank and in hand |
39,620 |
|
-------- |
|
83,700 |
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|
|
|
Creditors: amounts falling due within one year |
7 |
53,450 |
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-------- |
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Net current assets |
30,250 |
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-------- |
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Total assets less current liabilities |
41,989 |
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|
|
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Provisions |
2,935 |
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-------- |
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Net assets |
39,054 |
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-------- |
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Capital and reserves
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Called up share capital |
1 |
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Profit and loss account |
39,053 |
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-------- |
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Member's funds |
39,054 |
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-------- |
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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 comprehensive income has not been delivered.
For the period ended 31 January 2025 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 period 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.
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Newcastle Flooring NUL Limited |
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Statement of Financial Position (continued) |
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31 January 2025
These financial statements were approved by the
board of directors
and authorised for issue on
19 December 2025
, and are signed on behalf of the board by:
Company registration number:
15401531
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Newcastle Flooring NUL Limited |
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Notes to the Financial Statements |
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Period from 9 January 2024 to 31 January 2025
1.
Statutory information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Citadel, Albert Street, Chesterton, Newcastle, England, ST5 7JF.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provision of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and Companies Act 2006.
3.
Accounting policies
(a)
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b)
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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
(c)
Taxation
The taxation expense represents the aggregate amount of current and deferred 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(d)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e)
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:
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Plant and machinery |
- |
15% reducing balance |
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Motor vehicles |
- |
20% reducing balance |
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(f)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(g)
Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
(h)
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(i)
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
.
5.
Tangible assets
|
Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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Cost |
|
|
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At 9 January 2024 |
– |
– |
– |
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Additions |
2,500 |
10,000 |
12,500 |
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------- |
-------- |
-------- |
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At 31 January 2025 |
2,500 |
10,000 |
12,500 |
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------- |
-------- |
-------- |
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Depreciation |
|
|
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At 9 January 2024 |
– |
– |
– |
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Charge for the period |
94 |
667 |
761 |
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------- |
-------- |
-------- |
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At 31 January 2025 |
94 |
667 |
761 |
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------- |
-------- |
-------- |
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Carrying amount |
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At 31 January 2025 |
2,406 |
9,333 |
11,739 |
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------- |
-------- |
-------- |
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6.
Debtors
|
31 Jan 25 |
|
£ |
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Trade debtors |
26,099 |
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Prepayments and accrued income |
407 |
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Other debtors |
17,474 |
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-------- |
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43,980 |
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-------- |
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7.
Creditors:
amounts falling due within one year
|
31 Jan 25 |
|
£ |
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Trade creditors |
3,441 |
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Accruals and deferred income |
11,722 |
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Corporation tax |
13,845 |
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Social security and other taxes |
3,424 |
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Director loan accounts |
21,018 |
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-------- |
|
53,450 |
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-------- |
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8.
Related party transactions
C P A Furnival
is a related party by virtue of his directorship of and shareholding in the company. P S Furnival is a related party by virtue of his directorship of the company. During the period, C P A Furnival
operated a director's loan account with the company such that, at the period end, he was owed the sum of £21,018. This loan was interest free and repayable on demand. During the period, the company paid dividends to C P A Furnival
in the sum of £15,580.