Registered number |
|
|
|
|
|
|||||||
Registered number: |
|
||||||
Balance Sheet | |||||||
as at |
|||||||
Notes | 2020 | 2019 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 4 |
|
|
||||
Current assets | |||||||
Stocks |
|
|
|||||
Debtors | 5 |
|
|
||||
Cash at bank and in hand |
|
|
|||||
|
|
||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
||||
Net current liabilities | ( |
( |
|||||
Total assets less current liabilities |
|
|
|||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
||||
Net assets |
|
|
|||||
Capital and reserves | |||||||
Called up share capital |
|
|
|||||
Profit and loss account |
|
|
|||||
Shareholders' funds |
|
|
|||||
|
|||||||
|
|||||||
|
|||||||
|
|||||||
R L Suglani | |||||||
Director | |||||||
Approved by the board on |
|||||||
|
||||||||
Notes to the Accounts | ||||||||
for the year ended |
||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
|
||||||||
Turnover | ||||||||
|
||||||||
Tangible fixed assets | ||||||||
|
||||||||
Freehold buildings | 1/2 % straight line | |||||||
Plant and machinery | 10% reducing balance | |||||||
Intergral features | 1/2 % reducing balance | |||||||
Stocks | ||||||||
|
||||||||
Debtors | ||||||||
|
||||||||
Creditors | ||||||||
|
||||||||
Taxation | ||||||||
|
||||||||
Provisions | ||||||||
|
||||||||
2 | Going Concern | |||||||
"The company meets its day to day working capital requirements through an overdraft and bank loan facility. The current economic conditions create uncertainty particularly over the level of demand for the company products and the availability of bank finance in the foreseeable future. The Directors have considered the company's business activities, together with the factors likely to affect its future development, performance and position that are effected due to Covid19 restrictions. The directors have considered the company's financial resources together with its customer base and supply chain. They have also considered the possibility of obtaining Government gurantee loans to ease any short to medium term cash flow situation. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements We have continued to prepare the accounts on a going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status currently exists,in making this assessment we have considered the likely trading conditions for the period of 12 months from that date of our approval of these accounts |
||||||||
3 | Employees | 2020 | 2019 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
|
|
||||||
4 | Tangible fixed assets | |||||||
Land and buildings | Plant and machinery etc | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 September 2019 |
|
|
|
|||||
Additions | - |
|
|
|||||
At 31 August 2020 |
|
|
|
|||||
Depreciation | ||||||||
At 1 September 2019 |
|
|
|
|||||
Charge for the year |
|
|
|
|||||
At 31 August 2020 |
|
|
|
|||||
Net book value | ||||||||
At 31 August 2020 |
|
|
|
|||||
At 31 August 2019 |
|
|
|
|||||
5 | Debtors | 2020 | 2019 | |||||
£ | £ | |||||||
Trade debtors |
|
|
||||||
Other debtors |
|
|
||||||
|
|
|||||||
6 | Creditors: amounts falling due within one year | 2020 | 2019 | |||||
£ | £ | |||||||
Bank loans and overdrafts |
|
|
||||||
Obligations under finance lease and hire purchase contracts | - |
|
||||||
Trade creditors |
|
|
||||||
Amounts due to associated Company |
|
|
||||||
Taxation and social security costs |
|
|
||||||
Other creditors |
|
|
||||||
|
|
|||||||
7 | Creditors: amounts falling due after one year | 2020 | 2019 | |||||
£ | £ | |||||||
Bank loans |
|
|
||||||
Obligations under finance lease and hire purchase contracts |
|
|
||||||
|
|
|||||||
8 | Loans | 2020 | 2019 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Secured bank loans | 1,258,408 | 1,258,408 | ||||||
Amounts, amounts due to associated company are undated, unsecured, interest fee and repayable on demand |
||||||||
9 | Other information | |||||||
New Heritage Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Unit 49 Bridge Trading Estate | ||||||||
Bridge Street North | ||||||||
Smethwick | ||||||||
West Midlands | ||||||||
B66 2BZ |