Registered number
04771402
Neu Trading Limited
Unaudited Filleted Accounts
31 May 2023
API Partnership Limited T/A Chandler & Georges
Chartered Accountants
75, Westow Hill
SE19 1TX
tel. 0208 761 2213
web www.cgca.co.uk
www.cgca.co.uk
Mob: 0208 761 2213
Neu Trading Limited
Registered number: 04771402
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 717,000 600,000
Current assets
Debtors 4 - 222
Cash at bank and in hand 4,781 28,289
4,781 28,511
Creditors: amounts falling due within one year 5 (81,744) (75,284)
Net current liabilities (76,963) (46,773)
Total assets less current liabilities 640,037 553,227
Creditors: amounts falling due after more than one year 6 (75,063) (75,063)
Provisions for liabilities (114,038) (64,439)
Net assets 450,936 413,725
Capital and reserves
Called up share capital 100 100
Profit and loss account 450,836 413,625
Shareholders' funds 450,936 413,725
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Fraser Trewick
Director
Approved by the board on 21 November 2023
Neu Trading Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover comprises of rental property income.
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 June 2022 600,000
Revaluation 117,000
At 31 May 2023 717,000
Historical cost
At 1 June 2022 256,770
At 31 May 2023 256,770
The fair value of the investment property has been estimated by the Director, Fraser Trewick based on valuations provided by local estate agents.
4 Debtors 2023 2022
£ £
Other debtors - 222
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,194 -
Other creditors 80,550 75,284
81,744 75,284
Other creditors falling due within one year, includes a director's loan balance of £77,901 (2022 £64,873). The balance is interest free and repayable on demand.
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 75,063 75,063
Other creditors falling due after one year, comprise of an interest only loan, repayable the earlier of 3rd February 2029 or the sale of the investment property.
7 Controlling party
The company is controlled by Fraser Trewick.
8 Other information
Neu Trading Limited is a private company limited by shares and incorporated in England. Its registered office is:
75, Westow Hill
London
SE19 1TX
tel. 0208 761 2213
web www.cgca.co.uk
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