Newtrim (UK) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04221301 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

NEWTRIM (UK) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N H Woodcock

Mrs S Woodcock

Ms C Ashford

N Woodcock

SECRETARY:

Ms C Ashford

REGISTERED OFFICE:

25B Manor Farm Road

Horspath

Oxford

Oxfordshire

OX33 1SD

REGISTERED NUMBER:

04221301 (England and Wales)

ACCOUNTANTS:

Aries Accountants Limited

Chartered Accountants

11 Boundary Business Park

Wheatley Road

Garsington

Oxford

OX44 9EJ

FIXED ASSETS

Intangible assets

4

-

6,096

Tangible assets

5

95,530

114,590

95,530

120,686

CURRENT ASSETS

Stocks

15,479

15,479

Debtors

6

246,430

262,115

Cash at bank and in hand

1,677

39,579

263,586

317,173

CREDITORS

Amounts falling due within one year

7

(131,954

)

(114,699

)

NET CURRENT ASSETS

131,632

202,474

TOTAL ASSETS LESS CURRENT LIABILITIES

227,162

323,160

CREDITORS

Amounts falling due after more than one year

8

-

(24,841

)

PROVISIONS FOR LIABILITIES

(14,213

)

(19,336

)

NET ASSETS

212,949

278,983

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

211,949

277,983

SHAREHOLDERS' FUNDS

212,949

278,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 7 December 2020 and were signed on its behalf by:

N Woodcock - Director

Ms C Ashford - Director

1.	STATUTORY INFORMATION

Newtrim (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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 2001, is being amortised evenly over its estimated life. Since a reliable estimate of the useful life cannot be made it is presently amortised over five years.

Intangible assets

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

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.

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Grant income

Grants received are recognised in the profit and loss account to the extent that the terms on which the funding was made available have been met. Grant income is therefore matched against the costs to which the funding is intended to contribute.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2019 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

95,000

AMORTISATION

At 1 April 2019

88,904

Amortisation for year

6,096

At 31 March 2020

95,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

6,096

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2019

and 31 March 2020

41,991

194,973

12,491

DEPRECIATION

At 1 April 2019

8,208

126,654

3,066

Charge for year

4,200

11,004

1,249

At 31 March 2020

12,408

137,658

4,315

NET BOOK VALUE

At 31 March 2020

29,583

57,315

8,176

At 31 March 2019

33,783

68,319

9,425

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

22,355

20,080

291,890

DEPRECIATION

At 1 April 2019

22,355

17,017

177,300

Charge for year

-

2,607

19,060

At 31 March 2020

22,355

19,624

196,360

NET BOOK VALUE

At 31 March 2020

-

456

95,530

At 31 March 2019

-

3,063

114,590

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

Improvements

to

Plant and

property

machinery

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

21,631

90,667

112,298

DEPRECIATION

At 1 April 2019

3,785

27,200

30,985

Charge for year

2,164

9,067

11,231

At 31 March 2020

5,949

36,267

42,216

NET BOOK VALUE

At 31 March 2020

15,682

54,400

70,082

At 31 March 2019

17,846

63,467

81,313

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

140,432

105,789

Other debtors

105,998

156,326

246,430

262,115

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

2,445

-

Hire purchase contracts

4,759

4,759

Trade creditors

40,643

24,605

Taxation and social security

32,824

37,604

Other creditors

51,283

47,731

131,954

114,699

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

-

24,841

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Hire purchase contracts

4,759

29,600

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year an interest bearing loan was made to the company directors. The loan is interest bearing at 2.50% per annum and as at the balance sheet date the balance owed to the company by the directors was £92,720 (2019 - £144,024).