Caseware UK (AP4) 2023.0.135 2023.0.135 2022-12-312022-12-31false2021-12-01trueNo description of principal activity00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13020465 2021-12-01 2022-12-31 13020465 2020-11-15 2021-11-30 13020465 2022-12-31 13020465 2021-11-30 13020465 c:Director1 2021-12-01 2022-12-31 13020465 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 13020465 d:PatentsTrademarksLicencesConcessionsSimilar 2021-11-30 13020465 d:CurrentFinancialInstruments 2022-12-31 13020465 d:CurrentFinancialInstruments 2021-11-30 13020465 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13020465 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 13020465 d:RetainedEarningsAccumulatedLosses 2022-12-31 13020465 d:RetainedEarningsAccumulatedLosses 2021-11-30 13020465 c:FRS102 2021-12-01 2022-12-31 13020465 c:AuditExempt-NoAccountantsReport 2021-12-01 2022-12-31 13020465 c:FullAccounts 2021-12-01 2022-12-31 13020465 c:PrivateLimitedCompanyLtd 2021-12-01 2022-12-31 13020465 2 2021-12-01 2022-12-31 13020465 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2021-12-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 13020465









NED NEW ERA DEVELOPMENT LTD.







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
NED NEW ERA DEVELOPMENT LTD.
REGISTERED NUMBER: 13020465

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

31 December
As restated
30 November
2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
19,914
38,296

  
19,914
38,296

Current assets
  

Debtors: amounts falling due within one year
 5 
1,831,228
2,975,983

  
1,831,228
2,975,983

Creditors: amounts falling due within one year
 6 
(357,884)
(1,856,509)

Net current assets
  
 
 
1,473,344
 
 
1,119,474

Total assets less current liabilities
  
1,493,258
1,157,770

  

Net assets
  
1,493,258
1,157,770


Capital and reserves
  

Profit and loss account
  
1,493,258
1,157,770

  
1,493,258
1,157,770


Page 1

 
NED NEW ERA DEVELOPMENT LTD.
REGISTERED NUMBER: 13020465
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period 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 statement of income and retained earnings 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 4 March 2024.




................................................
Lukas Maslan
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NED NEW ERA DEVELOPMENT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

The company is a private company lmited by share capital, incorporated in England & Wales. The
company number and registered office address are:
Company number:                13020465
Registered office address: PO Box 4385, 13020465 - COMPANIES HOUSE DEFAULT ADDRESS, Cardiff, CF14 8LH

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.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
NED NEW ERA DEVELOPMENT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 4

 
NED NEW ERA DEVELOPMENT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of income and retained earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2021 - £NIL).

The average monthly number of employees, including directors, during the period was 0 (2021 - 0).

Page 5

 
NED NEW ERA DEVELOPMENT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

4.


Intangible assets






Patents

£



Cost


At 1 December 2021
55,147



At 31 December 2022

55,147



Amortisation


At 1 December 2021
16,851


Charge for the period on owned assets
18,382



At 31 December 2022

35,233



Net book value



At 31 December 2022
19,914



At 30 November 2021
38,296




5.


Debtors

31 December
30 November
2022
2021
£
£


Trade debtors
696,333
2,828,258

Amounts owed by group undertakings
959,602
-

Other debtors
175,293
147,725

1,831,228
2,975,983


Page 6

 
NED NEW ERA DEVELOPMENT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

6.


Creditors: Amounts falling due within one year

31 December
30 November
2022
2021
£
£

Trade creditors
111
1,185,880

Corporation tax
290,271
271,567

Other creditors
66,400
397,335

Accruals and deferred income
1,102
1,727

357,884
1,856,509


 
Page 7