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:
04747483
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Statement of Financial Position |
2022 |
2021 |
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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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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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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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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
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
27 July 2022
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
04747483
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Notes to the Financial Statements |
Year ended 31 May 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 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
12
(2021:
18
).
5.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 1 June 2021 and 31 May 2022 |
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Amortisation |
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At 1 June 2021 |
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Charge for the year |
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-------- |
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At 31 May 2022 |
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Carrying amount |
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At 31 May 2022 |
– |
-------- |
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At 31 May 2021 |
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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 2021 |
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Additions |
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Disposals |
– |
(
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– |
(
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-------- |
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------- |
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At 31 May 2022 |
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------- |
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Depreciation |
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At 1 June 2021 |
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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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At 31 May 2022 |
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Carrying amount |
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At 31 May 2022 |
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------- |
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At 31 May 2021 |
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7.
Debtors
2022 |
2021 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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Prepayments and accrued income |
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Other debtors |
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-------- |
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8.
Investments
2022 |
2021 |
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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
2022 |
2021 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
– |
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Other creditors |
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-------- |
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10.
Creditors:
amounts falling due after more than one year
2022 |
2021 |
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£ |
£ |
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Bank loans and overdrafts |
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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:
2022 |
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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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2021 |
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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 NFE 2020 Limited from 22nd October 2020 when 100% of the share capital was purchased in the company. The managing directors of the company are
Mr J Workman
and Mr D Gowanlock
. Mr J Workman
and Mr D Gowanlock are the managing directors and equal shareholders of NFE 2020 Limited. The company incurred management charges of £42,980 from NFE 2020 Limited. The company was owed £521,873 from NFE 2020 Limited as at 31st May 2022.
13.
Controlling party