Newman Morris Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05220738 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

NEWMAN MORRIS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D S Harris

C Morris

SECRETARY:

D J Gillies

REGISTERED OFFICE:

Wellington House

273-275 High Street

London Colney

Hertfordshire

AL2 1HA

REGISTERED NUMBER:

05220738 (England and Wales)

ACCOUNTANTS:

Newman Morris Limited

Chartered Accountants

Wellington House

273-275 High Street

London Colney

Hertfordshire

AL2 1HA

FIXED ASSETS

Intangible assets

4

92,261

29,143

Tangible assets

5

7,332

4,864

99,593

34,007

CURRENT ASSETS

Stocks

90,259

122,659

Debtors

6

426,092

314,469

Cash at bank

51,719

57,095

568,070

494,223

CREDITORS

Amounts falling due within one year

7

328,181

378,213

NET CURRENT ASSETS

239,889

116,010

TOTAL ASSETS LESS CURRENT LIABILITIES

339,482

150,017

CREDITORS

Amounts falling due after more than one year

8

295,373

101,175

NET ASSETS

44,109

48,842

CAPITAL AND RESERVES

Called up share capital

1,300

1,300

Retained earnings

42,809

47,542

SHAREHOLDERS' FUNDS

44,109

48,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 July 2018 and were signed on its behalf by:

C Morris - Director

1.	STATUTORY INFORMATION

Newman Morris 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or

receivable, excluding discounts, rebates, value added tax and other sales

taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a

client base from SRG Newmans Lid in 2004, is being amortised evenly over

its estimated useful life of ten years.

The goodwill, being the amount paid in connection with the acquisition of

Fisher Morris, also in 2004, is being amortised evenly over its estimated

useful life of fifteen years.

During the year a further block of clients was acquired, which is being

amortised over its estimated useful life of 5 years.

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.

Computer software is being amortised evenly over its 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 etc

-

25% on cost and 15% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all

purchase, transport, and handling costs in bringing stocks to their present

location and condition.

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 22 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 November 2016

352,383

-

352,383

Additions

72,000

12,934

84,934

At 31 October 2017

424,383

12,934

437,317

AMORTISATION

At 1 November 2016

323,240

-

323,240

Charge for year

17,508

4,308

21,816

At 31 October 2017

340,748

4,308

345,056

NET BOOK VALUE

At 31 October 2017

83,635

8,626

92,261

At 31 October 2016

29,143

-

29,143

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

99,695

Additions

6,776

At 31 October 2017

106,471

DEPRECIATION

At 1 November 2016

94,831

Charge for year

4,308

At 31 October 2017

99,139

NET BOOK VALUE

At 31 October 2017

7,332

At 31 October 2016

4,864

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

259,074

217,372

Other debtors

167,018

97,097

426,092

314,469

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

14,689

Trade creditors

34,030

13,555

Taxation and social security

196,469

178,924

Other creditors

97,682

171,045

328,181

378,213

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

295,373

101,175

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdraft

-

14,689

The bank overdraft is secured by a debenture over the company's assets.

10.	ULTIMATE CONTROLLING PARTY

The company is under the control of Mr C Morris by virtue of the beneficial

ownership of the majority of the share capital of the company.