NEWSHAM HOMES LIMITED Small abridged accounts

NEWSHAM HOMES LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of NEWSHAM HOMES LIMITED have consented to the preparation of the statement of income and retained earnings and the abridged statement of financial position for the year ending 31st March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 06411700

NEWSHAM HOMES LIMITED

Unaudited Abridged Financial Statements

31 March 2017

MORGWN ATKINS LIMITED

Chartered Accountants

Eight Bells House

14 Church Street

Tetbury

Gloucestershire

GL8 8JG

NEWSHAM HOMES LIMITED

Abridged Financial Statements

Year ended 31st March 2017

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

NEWSHAM HOMES LIMITED

Abridged Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Current assets

Stocks	608,473	608,473
Debtors	114	114
Cash at bank and in hand	1,901	103
	---------	---------
	610,488	608,690

Creditors: amounts falling due within one year	718,540		727,479
	---------		---------
Net current liabilities		108,052	118,789
		---------	---------
Total assets less current liabilities		( 108,052)	( 118,789)
		---------	---------
Net liabilities		( 108,052)	( 118,789)
		---------	---------

NEWSHAM HOMES LIMITED

Abridged Statement of Financial Position (continued)

31 March 2017

	2017		2016
Note	£	£	£

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 108,054)	( 118,791)
	---------	---------
Members deficit	( 108,052)	( 118,789)
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 31 December 2017 , and are signed on behalf of the board by:

B F STACK	L R STACK
Director	Director

Company registration number: 06411700

NEWSHAM HOMES LIMITED

Notes to the Abridged Financial Statements

Year ended 31st March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Eight Bells House, 14 Church Street, Tetbury, Gloucesterhire, GL8 8JG.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1st April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to 2 (2016: 2).

5. Interest payable and similar expenses

	2017	2016
	£	£
Interest on banks loans and overdrafts	15,000	17,599
	--------	--------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
B F STACK	( 500,418)	823	( 499,595)
	---------	----	---------

	2016
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
B F STACK	( 512,352)	11,934	( 500,418)
	---------	--------	---------

7. Related party transactions

The company was under the control of the directors.

8. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1st April 2015.

No transitional adjustments were required in equity or profit or loss for the year.