New House Designs (South West) Limited
New House Designs (South West) Limited
Registered number: 6320858
Unaudited Financial Statements
For The Year Ended
31 July 2023
PJM Accountancy
Chartered Accountants
Grovetown Barn
Yeolmbridge
Launceston
Cornwall
PL15 8NH
New House Designs (South West) Limited
Unaudited Financial Statements
For The Year Ended
31 July 2023
Unaudited Financial Statements
Contents | |
Page | |
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Company Information | 1 |
Accountants' Report | 2 |
Balance Sheet | 3—4 |
Statement of Changes in Equity | 5 |
Notes to the Financial Statements | 6—8 |
New House Designs (South West) Limited
Company Information
For The Year Ended
31 July 2023
Company Information
Director |
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Secretary |
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Company Number |
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Registered Office | 8 Bowden Park Road |
Crownhill | |
Plymouth | |
PL6 5NF | |
Accountants |
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Chartered Accountants | |
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Yeolmbridge | |
Launceston | |
Cornwall | |
PL15 8NH | |
New House Designs (South West) Limited
Accountants' Report
For The Year Ended
31 July 2023
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of
New House Designs (South West) Limited
For The Year Ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
New House Designs (South West) Limited
For The Year Ended 31 July 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of
New House Designs (South West) Limited
, as a body, in accordance with the terms of our engagement letter dated 04 April 2017. Our work has been undertaken solely to prepare for your approval the accounts of
New House Designs (South West) Limited
and state those matters that we have agreed to state to the director of
New House Designs (South West) Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
New House Designs (South West) Limited
and its director, as a body, for our work or for this report.
It is your duty to ensure that
New House Designs (South West) Limited
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
New House Designs (South West) Limited
. You consider that
New House Designs (South West) Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of
New House Designs (South West) Limited
. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed |
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Chartered Accountants
Grovetown Barn
Yeolmbridge
Launceston
Cornwall
PL15 8NH
New House Designs (South West) Limited
Balance Sheet
As At
31 July 2023
Balance Sheet
Registered number:
6320858
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 4 |
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CURRENT ASSETS | |||||
Debtors | 5 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 6 |
( |
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NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 7 |
( |
( |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 8 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 100 | 86 | |||
New House Designs (South West) Limited
Balance Sheet (continued)
As At
31 July 2023
On behalf of the board
Director
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The notes on pages 6 to 8 form part of these financial statements.
New House Designs (South West) Limited
Statement of Changes in Equity
For The Year Ended
31 July 2023
Statement of Changes in Equity
Share Capital | Profit and Loss Account | Total | |
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£ | £ | £ | |
As at 1 August 2021 |
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( |
(9,971) |
Profit for the year and total comprehensive income | - |
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21,057 |
Dividends paid | - | (11,000) | (11,000) |
As at 31 July 2022 and 1 August 2022 |
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86 |
Profit for the year and total comprehensive income | - |
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19,014 |
Dividends paid | - | (19,000) | (19,000) |
As at
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100 |
New House Designs (South West) Limited
Notes to the Financial Statements
For The Year Ended
31 July 2023
Notes to the Financial Statements
1.
General Information
New House Designs (South West) Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
6320858
. The registered office is 8 Bowden Park Road, Crownhill, Plymouth, PL6 5NF.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate. The company has net liabilities but has the continued support of its director who is also the main creditor.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings |
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Computer Equipment |
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2.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
New House Designs (South West) Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 July 2023
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
4.
Tangible Assets
Plant & Machinery | |
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£ | |
Cost | |
As at
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As at
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Depreciation | |
As at
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Provided during the period |
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As at
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Net Book Value | |
As at
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As at
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5.
Debtors
2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Director's loan account |
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6.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
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£ | £ | ||
Corporation tax |
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Other creditors |
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7.
Deferred Taxation
The provision for deferred tax is made up as follows:
2023 | 2022 | ||
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£ | £ | ||
Accelerated capital allowances |
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New House Designs (South West) Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 July 2023
9.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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£ | £ | £ | £ | £ | |
Mr Paul Guildford |
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( |
- |
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The above loan was unsecured, interest free and repayable on demand.