Newspan Building Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06531592 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Newspan Building Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Murray

REGISTERED OFFICE:

The Old Post Office

Kingsway

Chandlers Ford

Hampshire

SO53 1FD

REGISTERED NUMBER:

06531592 (England and Wales)

ACCOUNTANTS:

RWB Tax Consultants Limited

F7A Lynch Lane Offices

Lynch Lane

Weymouth

Dorset

DT4 9DN

FIXED ASSETS

Intangible assets

4

5,665

8,290

Tangible assets

5

33,582

31,216

Investment property

6

325,000

279,534

364,247

319,040

CURRENT ASSETS

Stocks

4,000

4,000

Debtors

7

3,016,389

2,434,716

Cash at bank

3,281,747

2,669,439

6,302,136

5,108,155

CREDITORS

Amounts falling due within one year

8

776,893

624,586

NET CURRENT ASSETS

5,525,243

4,483,569

TOTAL ASSETS LESS CURRENT LIABILITIES

5,889,490

4,802,609

PROVISIONS FOR LIABILITIES

14,833

155

NET ASSETS

5,874,657

4,802,454

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

5,874,557

4,802,354

SHAREHOLDERS' FUNDS

5,874,657

4,802,454

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 24 September 2021 and were signed by:

M J Murray - Director

1.	STATUTORY INFORMATION

Newspan Building Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

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

-

33% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2019 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 January 2020

and 31 December 2020

13,123

AMORTISATION

At 1 January 2020

4,833

Amortisation for year

2,625

At 31 December 2020

7,458

NET BOOK VALUE

At 31 December 2020

5,665

At 31 December 2019

8,290

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2020

51,955

766

35,903

3,050

91,674

Additions

13,650

-

-

5,915

19,565

At 31 December 2020

65,605

766

35,903

8,965

111,239

DEPRECIATION

At 1 January 2020

44,016

255

13,137

3,050

60,458

Charge for year

7,382

256

7,589

1,972

17,199

At 31 December 2020

51,398

511

20,726

5,022

77,657

NET BOOK VALUE

At 31 December 2020

14,207

255

15,177

3,943

33,582

At 31 December 2019

7,939

511

22,766

-

31,216

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

279,534

Revaluations

45,466

At 31 December 2020

325,000

NET BOOK VALUE

At 31 December 2020

325,000

At 31 December 2019

279,534

Fair value at 31 December 2020 is represented by:

£

Valuation in 2019

279,534

Valuation in 2020

45,466

325,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

348,332

418,739

Other debtors

2,507,213

1,995,867

Prepayments and accrued income

160,844

20,110

3,016,389

2,434,716

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

342,824

188,557

Tax

280,909

258,832

Social security and other taxes

17,431

23,942

VAT

78,951

12,496

Other creditors

1,633

13,472

Directors' current accounts

3,091

18,107

Accruals and deferred income

52,054

109,180

776,893

624,586

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019:

31.12.20

31.12.19

£

£

M J Murray

Balance outstanding at start of year

(18,107

)

(28,108

)

Amounts advanced

18,016

23,001

Amounts repaid

(3,000

)

(13,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3,091

)

(18,107

)

11.	RELATED PARTY DISCLOSURES

New Span Holdings Ltd, a company in which Mr MJ Murray is also a director, had advances from Newspan Building Solutions Ltd at 31.12.20 totalling £2,507,213 (2019 - £1,995,867). This loan repayable on demand.