Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28No description of principal activity12022-03-01true1falsetrue 02395690 2022-03-01 2023-02-28 02395690 2021-03-01 2022-02-28 02395690 2023-02-28 02395690 2022-02-28 02395690 c:Director1 2022-03-01 2023-02-28 02395690 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 02395690 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 02395690 d:ShareCapital 2023-02-28 02395690 d:ShareCapital 2022-02-28 02395690 d:RetainedEarningsAccumulatedLosses 2023-02-28 02395690 d:RetainedEarningsAccumulatedLosses 2022-02-28 02395690 c:EntityHasNeverTraded 2022-03-01 2023-02-28 02395690 c:FRS102 2022-03-01 2023-02-28 02395690 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 02395690 c:FullAccounts 2022-03-01 2023-02-28 02395690 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 02395690









NEWTECH HEATING SPARES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
NEWTECH HEATING SPARES LIMITED
REGISTERED NUMBER: 02395690

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
£
£

  

Current assets
  

Debtors
  
4,868
4,868

Cash at bank and in hand
  
24
24

  
4,892
4,892

Creditors: amounts falling due within one year
  
(2,216)
(2,216)

  

Net assets
  
2,676
2,676


Capital and reserves
  

Called up share capital 
  
60
60

Profit and loss account
  
2,616
2,616

  
2,676
2,676


For the year ended 28 February 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 November 2023.




J S Bansal
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
NEWTECH HEATING SPARES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Newtech Heating Spares Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. The registered office is 313/319 High Street, Leytonstone, London, E11 4JT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.3

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.4

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Page 2

 
NEWTECH HEATING SPARES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.4
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 3