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REGISTERED NUMBER: 03513212 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

NEXT GENERATION RECORDS LTD.

NEXT GENERATION RECORDS LTD. (REGISTERED NUMBER: 03513212)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 February 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


NEXT GENERATION RECORDS LTD.

COMPANY INFORMATION
for the year ended 28 February 2023







DIRECTORS: Mr H C Dean
Mr P Nineham





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 03513212 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

NEXT GENERATION RECORDS LTD. (REGISTERED NUMBER: 03513212)

ABRIDGED BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 17

CURRENT ASSETS
Debtors 1,156 921
Cash at bank 15,951 11,891
17,107 12,812
CREDITORS
Amounts falling due within one year 6,646 6,758
NET CURRENT ASSETS 10,461 6,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,461

6,071

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 10,459 6,069
SHAREHOLDERS' FUNDS 10,461 6,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

NEXT GENERATION RECORDS LTD. (REGISTERED NUMBER: 03513212)

ABRIDGED BALANCE SHEET - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 13 October 2023 and were signed on its behalf by:





Mr H C Dean - Director


NEXT GENERATION RECORDS LTD. (REGISTERED NUMBER: 03513212)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 February 2023

1. STATUTORY INFORMATION

Next Generation Records Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

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

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

NEXT GENERATION RECORDS LTD. (REGISTERED NUMBER: 03513212)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 3,970
Disposals (3,970 )
At 28 February 2023 -
DEPRECIATION
At 1 March 2022 3,953
Charge for year 4
Eliminated on disposal (3,957 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 17

5. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the directors £4,296 (2022 - £4,296).