NEWSHAM HOMES LIMITED Filleted accounts for Companies House (small and micro)

NEWSHAM HOMES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06411700

NEWSHAM HOMES LIMITED

Filleted Unaudited Abridged Financial Statements

31 March 2022

NEWSHAM HOMES LIMITED

Abridged Statement of Financial Position

31 March 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	4	928,100	920,000

Current assets

Debtors	–	30,000
Cash at bank and in hand	3,298	2,611
	-------	--------
	3,298	32,611

Creditors: amounts falling due within one year	45,077	56,584
	--------	--------
Net current liabilities	41,779	23,973
	---------	---------
Total assets less current liabilities	886,321	896,027

Creditors: amounts falling due after more than one year	702,585	707,986
	---------	---------
Net assets	183,736	188,041
	---------	---------

Capital and reserves

Called up share capital	2	2
Revaluation reserve	311,527	311,527
Profit and loss account	( 127,793)	( 123,488)
	---------	---------
Shareholders funds	183,736	188,041
	---------	---------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year 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 abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

NEWSHAM HOMES LIMITED

Abridged Statement of Financial Position (continued)

31 March 2022

These abridged financial statements were approved by the board of directors and authorised for issue on 13 September 2022 , and are signed on behalf of the board by:

B F STACK	L R STACK
Director	Director

Company registration number: 06411700

NEWSHAM HOMES LIMITED

Notes to the Abridged Financial Statements

Year ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Eight Bells House, 14 Church Street, Tetbury, Gloucesterhire, GL8 8JG.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Motor Vehicles	-	25% straight line

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Tangible assets

	£
Cost
At 1 April 2021	920,000
Additions	10,800
	---------
At 31 March 2022	930,800
	---------
Depreciation
At 1 April 2021	–
Charge for the year	2,700
	---------
At 31 March 2022	2,700
	---------
Carrying amount
At 31 March 2022	928,100
	---------
At 31 March 2021	920,000
	---------

5. Average number of employees

The average number of employees during the year was 2.

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
B F STACK	( 34,258)	( 956)	( 35,214)
L R STACK	–	( 3,148)	( 3,148)
	--------	-------	--------
	( 34,258)	( 4,104)	( 38,362)
	--------	-------	--------

	2021
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
B F STACK	( 103,792)	69,534	( 34,258)
L R STACK	–	–	–
	---------	--------	--------
	( 103,792)	69,534	( 34,258)
	---------	--------	--------

7. Related party transactions

The company was under the control of the directors.