REGISTERED NUMBER: 03211032 (England and Wales)

Financial Statements for the Year Ended 31 December 2017

for

Neway Engineering Products Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D P Chatwin

Mr R A Chatwin

SECRETARY:

Mr D P Chatwin

REGISTERED OFFICE:

9 Banbery Drive

Wombourne

Wolverhampton

West Midlands

WV5 0AH

REGISTERED NUMBER:

03211032 (England and Wales)

ACCOUNTANTS:

Haines Watts Wolverhampton Limited

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

BANKERS:

Lloyds TSB

134 High Street

Stourbridge

West Midlands

DY8 7AP

FIXED ASSETS

Tangible assets

4

2,742

3,656

Investments

5

-

-

2,742

3,656

CURRENT ASSETS

Debtors

6

2

11

Cash at bank

3,131

7,026

3,133

7,037

CREDITORS

Amounts falling due within one year

7

18,670

15,203

NET CURRENT LIABILITIES

(15,537

)

(8,166

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,795

)

(4,510

)

CAPITAL AND RESERVES

Called up share capital

999

999

Retained earnings

(13,794

)

(5,509

)

SHAREHOLDERS' FUNDS

(12,795

)

(4,510

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 19 September 2018 and were signed on its behalf by:

Mr D P Chatwin - Director

1.	STATUTORY INFORMATION

Neway Engineering Products 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

The turnover shown in the profit and loss account is the amount receivable for the provision of goods

and services falling within the Company's activities, net of Value Added Tax, rebates and trade

discounts.

Turnover from the provision of goods and services is recognised in the accounting period in which the

Company obtains the right to consideration in exchange for its performance and when the amounts to

be recognised are fixed or determinable and collectability is reasonably assured.

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

-

25% on reducing balance

Going concern

The accounts have been prepared on a going concern basis. Although total liabilities exceed assets

by £12,795 the directors are of the opinion that the company will continue to trade for the foreseeable

future, with their continued support.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2017

and 31 December 2017

6,500

3,171

9,671

DEPRECIATION

At 1 January 2017

2,844

3,171

6,015

Charge for year

914

-

914

At 31 December 2017

3,758

3,171

6,929

NET BOOK VALUE

At 31 December 2017

2,742

-

2,742

At 31 December 2016

3,656

-

3,656

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2017

and 31 December 2017

1,000

PROVISIONS

At 1 January 2017

and 31 December 2017

1,000

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

2

11

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other creditors

18,670

15,203