Newfield Electrical Limited Filleted accounts for Companies House (small and micro)
Newfield Electrical Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
4747483
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Statement of Financial Position |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
5 |
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Tangible assets |
6 |
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-------- |
-------- |
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Current assets
Stocks |
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Debtors |
7 |
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Investments |
8 |
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Cash at bank and in hand |
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----------- |
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Creditors: amounts falling due within one year |
9 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
10 |
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Provisions
Taxation including deferred tax |
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----------- |
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Net assets |
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Statement of Financial Position (continued) |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
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----------- |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
23 June 2020
, and are signed on behalf of the board by:
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Director |
Company registration number:
4747483
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Notes to the Financial Statements |
Year ended 31 May 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 St Josephs Court, Trindle Road, Dudley, West Midlands, DY2 7AU.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
The rate at which amortisation is charged has changed during the year to fall in line with FRS 102 guidelines.
Tangible assets
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:
Pant and machinery |
- |
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Motor vehicles |
- |
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Equipment |
- |
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Impairment of fixed assets
Stocks
Finance leases and hire purchase contracts
Government grants
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
22
(2019:
20
).
5.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 1 June 2019 and 31 May 2020 |
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-------- |
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Amortisation |
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At 1 June 2019 |
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Charge for the year |
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-------- |
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At 31 May 2020 |
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-------- |
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Carrying amount |
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At 31 May 2020 |
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-------- |
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At 31 May 2019 |
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-------- |
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6.
Tangible assets
Plant and machinery |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 June 2019 |
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Additions |
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– |
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Disposals |
(
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(
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(
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(
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-------- |
-------- |
------- |
-------- |
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At 31 May 2020 |
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-------- |
-------- |
------- |
-------- |
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Depreciation |
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At 1 June 2019 |
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Charge for the year |
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Disposals |
(
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(
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(
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(
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-------- |
-------- |
------- |
-------- |
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At 31 May 2020 |
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-------- |
-------- |
------- |
-------- |
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Carrying amount |
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At 31 May 2020 |
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-------- |
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------- |
-------- |
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At 31 May 2019 |
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-------- |
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------- |
-------- |
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7.
Debtors
2020 |
2019 |
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£ |
£ |
|
Trade debtors |
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Other debtors |
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-------- |
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8.
Investments
2020 |
2019 |
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£ |
£ |
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Investments in group undertakings |
1 |
1 |
---- |
---- |
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9.
Creditors:
amounts falling due within one year
2020 |
2019 |
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£ |
£ |
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Bank loans and overdrafts |
|
– |
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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-------- |
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-------- |
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10.
Creditors:
amounts falling due after more than one year
2020 |
2019 |
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£ |
£ |
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Other creditors |
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------- |
------- |
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11.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2020 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
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£ |
£ |
£ |
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(
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(
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(
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------- |
------- |
------- |
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2019 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
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£ |
£ |
£ |
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|
(
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(
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------- |
------- |
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12.
Related party transactions
The company was under the control of
Mr I Workman
throughout the current year. Mr I Workman
is the managing director and equal shareholder.