NEWSHAM HOMES LIMITED Company accounts

NEWSHAM HOMES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06411700

NEWSHAM HOMES LIMITED

Unaudited Abridged Financial Statements

31 March 2021

NEWSHAM HOMES LIMITED

Abridged Financial Statements

Year ended 31 March 2021

Contents	Page

Directors' report	1

Abridged statement of income and retained earnings	2

Abridged statement of financial position	3

Notes to the abridged financial statements	4

NEWSHAM HOMES LIMITED

Directors' Report

Year ended 31 March 2021

The directors present their report and the unaudited abridged financial statements of the company for the year ended 31 March 2021 .

Directors

The directors who served the company during the year were as follows:

B F STACK
L R STACK

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 31 March 2022 and signed on behalf of the board by:

B F STACK

Company Secretary

Registered office:

Eight Bells House

14 Church Street

Tetbury

Gloucesterhire

GL8 8JG

NEWSHAM HOMES LIMITED

Abridged Statement of Income and Retained Earnings

Year ended 31 March 2021

	2021	2020
Note	£	£
Gross profit	32,250	34,000

Administrative expenses	6,712	7,042
	--------	--------
Operating profit	25,538	26,958

Interest payable and similar expenses	4	21,250	21,000
		--------	--------
Profit before taxation		4,288	5,958

Tax on profit	–	–
	-------	-------
Profit for the financial year and total comprehensive income	4,288	5,958
	-------	-------

Retained losses at the start of the year	( 79,567)	( 85,525)
	--------	--------
Retained losses at the end of the year	( 75,279)	( 79,567)
	--------	--------

All the activities of the company are from continuing operations.

NEWSHAM HOMES LIMITED

Abridged Statement of Financial Position

31 March 2021

	2021	2020
Note	£	£

Current assets

Stocks	608,473	608,473
Debtors	114	114
Cash at bank and in hand	3,267	3,267
	---------	---------
	611,854	611,854

Creditors: amounts falling due within one year	687,131	691,419
	---------	---------
Net current liabilities	75,277	79,565
	--------	--------
Total assets less current liabilities	( 75,277)	( 79,565)
	--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 75,279)	( 79,567)
	--------	--------
Shareholders deficit	( 75,277)	( 79,565)
	--------	--------

These abridged financial statements have been prepared 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'.

For the year ending 31 March 2021 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 2021 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 31 March 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 2021

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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. Interest payable and similar expenses

	2021	2020
	£	£
Interest on banks loans and overdrafts	21,250	21,000
	--------	--------

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:

	2021
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
B F STACK	( 504,552)	4,288	( 500,264)
	---------	-------	---------

	2020
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
B F STACK	( 504,552)	–	( 504,552)
	---------	----	---------

7. Related party transactions

The company was under the control of the directors.