NEWMAN_PROPERTY_AND_BOATI - Accounts

NEWMAN PROPERTY & BOATING LIMITED - Company Information

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Company Registration No. 03884287 (England and Wales)

NEWMAN PROPERTY AND BOATING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

NEWMAN PROPERTY AND BOATING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

NEWMAN PROPERTY AND BOATING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

43,753

51,474

Current assets

Cash at bank and in hand

375

639

Creditors: amounts falling due within one year

(664,016)

(642,142)

Net current liabilities

(663,641)

(641,503)

Total assets less current liabilities

(619,888)

(590,029)

Creditors: amounts falling due after more than one year

(57,771)

(65,430)

(677,659)

(655,459)

Capital and reserves

Called up share capital

Profit and loss account

(677,661)

(655,461)

Shareholder's funds

(677,659)

(655,459)

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 21 December 2015

R Newman

Director

Company Registration No. 03884287

NEWMAN PROPERTY AND BOATING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company meets its day to day working capital requirements through a loan account with the controlling party, the Newman Interest in Possession Settlement Trust.

The Trustees have confirmed the Trusts willingness to continue to give financial support for the foreseeable future. On this basis, the director consider it appropriate to prepare the financial statements on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% on written down value

1.4

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 January 2014 & at 31 December 2014

147,547

Depreciation

At 1 January 2014

96,073

Charge for the year

7,721

At 31 December 2014

103,794

Net book value

At 31 December 2014

43,753

At 31 December 2013

51,474

NEWMAN PROPERTY AND BOATING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £65,418 (2013 - £72,583).

Creditors: amounts falling due after more than one year

2014

2013

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

23,258

32,514

Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

R Newman - Director's loan account

280,555

Other transactions

During the year the company entered into the following related party transactions with companies under common control.

At the balance sheet date the company was owed £282,652 (2013: £283,196) by Spitfire Processing Limited (Formerly Newman Wood Recycling Limited). This has been provided against in full in the accounts. At the balance sheet date the accounts include a provision against the amounts due to RKN Developments Ltd of £12,404 (2013: £12,404) relating to the expected future release from this debt.

At the year end the company owed Newman Interest In Possession Trust £290,343 (2013: 279,601). The company owed Newman Property (Group) Ltd (formerly Newman Waste Management Ltd) £78,792 (2013: 73,631 ).