Newbury Homes Limited - Period Ending 2015-11-30

Registration number: 04597711

Newbury Homes Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2015
 

Beever and Struthers
Chartered Accountants
St George's House
215-219 Chester Road
Manchester
Lancashire
M15 4JE

Newbury Homes Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Newbury Homes Limited
(Registration number: 04597711)
Abbreviated Balance Sheet at 30 November 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					769			1,025
Current assets
Stocks					2,250,000			2,250,000
Debtors					18,376			378,376
Cash at bank and in hand					86,364			35,364
					2,354,740			2,663,740
Creditors: Amounts falling due within one year					(293,775)			(427,851)
Net current assets					2,060,965			2,235,889
Total assets less current liabilities					2,061,734			2,236,914
Creditors: Amounts falling due after more than one year					(4,670,044)			(4,770,044)
Net liabilities					(2,608,310)			(2,533,130)
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					(2,609,310)			(2,534,130)
Shareholders' deficit					(2,608,310)			(2,533,130)

For the year ending 30 November 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 31 August 2016

......................................... Mr W M Bury Director

The notes on pages 2 to 3 form an integral part of these financial statements.
  Page 1

Newbury Homes Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurances from the bank that they will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of signing these financial statements.

On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% straight line

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Newbury Homes Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2014		10,686			10,686
At 30 November 2015		10,686			10,686
Depreciation
At 1 December 2014		9,661			9,661
Charge for the year		256			256
At 30 November 2015		9,917			9,917
Net book value
At 30 November 2015		769			769
At 30 November 2014		1,025			1,025

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

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