Newbay Consulting Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10062801 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

NEWBAY CONSULTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L Marley

REGISTERED OFFICE:

The Old Barn

off Wood Street

Swanley Village

Kent

BR8 7PA

REGISTERED NUMBER:

10062801 (England and Wales)

ACCOUNTANTS:

Riddingtons Ltd

The Old Barn

off Wood Street

Swanley Village

Kent

BR8 7PA

FIXED ASSETS

Tangible assets

4

11,421

-

CURRENT ASSETS

Stocks

136,938

188,238

Debtors

5

132,682

27,666

Cash at bank

1,500

10,260

271,120

226,164

CREDITORS

Amounts falling due within one year

6

147,841

30,368

NET CURRENT ASSETS

123,279

195,796

TOTAL ASSETS LESS CURRENT LIABILITIES

134,700

195,796

CREDITORS

Amounts falling due after more than one year

7

(35,833

)

(46,068

)

PROVISIONS FOR LIABILITIES

(2,170

)

-

NET ASSETS

96,697

149,728

CAPITAL AND RESERVES

Called up share capital

4

2

Retained earnings

96,693

149,726

96,697

149,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 December 2022 and were signed by:

L Marley - Director

1.	STATUTORY INFORMATION

Newbay Consulting Limited 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

Stocks

Stocks is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

13,436

At 31 March 2022

13,436

DEPRECIATION

Charge for year

2,015

At 31 March 2022

2,015

NET BOOK VALUE

At 31 March 2022

11,421

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

119,379

6,328

Other debtors

13,303

21,338

132,682

27,666

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,000

3,932

Trade creditors

1,218

8,344

Taxation and social security

136,166

16,939

Other creditors

457

1,153

147,841

30,368

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

35,833

46,068

8.	RELATED PARTY DISCLOSURES

Included in the Other Creditors is an amount owed to the company director Mr L Marley totalling £75 (2021 - £771), no interest is to be charged.

Included in the Other Creditors is an amount owed to Lee Marley Brickwork Ltd totalling £382 (2021 - £382), for which Mr L Marley is a director. No interest is to be charged and no repayment terms have been agreed.

The policy used for government grants is the accrual model.