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Registered Number: 13776711


 

 

 

NEWTEK LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2021

End date: 31 December 2022
Director Safi Qurashi
Registered Number 13776711
Registered Office Apartment 9, Brockenhurst house
Brockenhurst road
Ascot
Berkshire
SL5 9FW
Accountants Cubed Consultancy Limited
6-7 Waterside
Station Road
Harpenden
Hertfordshire
AL5 4US
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 December 2022.
Principal activities
Principal activity of the company during the financial period was of the provision of consultancy and other FinTech advisory services.
Director
The director who served the company throughout the period was as follows:
Safi Qurashi
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Safi Qurashi
Director

Date approved: 23 February 2024
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Newtek Ltd for the year ended 31 December 2022.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Newtek Ltd for the year ended 31 December 2022 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Newtek Ltd , as a body, in accordance with the terms of our engagement letter dated 17 February 2023. Our work has been undertaken solely to prepare for your approval the accounts of Newtek Ltd and state those matters that we have agreed to state to the Board of Directors of Newtek Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newtek Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Newtek Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Newtek Ltd . You consider that Newtek Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Newtek Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended 31 December 2022.



....................................................
Cubed Consultancy Limited
6-7 Waterside
Station Road
Harpenden
Hertfordshire
AL5 4US
23 February 2024
3
 
 
Notes
 
2022
£
Turnover 4,000 
Cost of sales (415,455)
Gross profit/loss (411,455)
Administrative expenses (32,613)
Operating loss (444,068)
Interest payable and similar charges (22,000)
Profit/(Loss) on ordinary activities before taxation (466,068)
Tax on profit on ordinary activities
Profit/(Loss) for the financial period (466,068)
 
4
 
 
Notes
 
2022
£
Current assets    
Debtors 3 92,132 
Cash at bank and in hand 2,801 
94,933 
Net current assets 94,933 
 
Total assets less current liabilities 94,933 
Creditors: amount falling due after more than one year 4 (561,000)
Net liabilities (466,067)
 

Capital and reserves
   
Called up share capital 5 1 
Profit and loss account (466,068)
Shareholder's funds (466,067)
 


For the period ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 23 February 2024 and were signed by:


-------------------------------
Safi Qurashi
Director
5
  Equity share capital   Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £ £
At 01 December 2021
Profit for the period (466,068) (466,068)
Total comprehensive income for the period (466,068) (466,068)
Shares issued 1 
Total investments by and distributions to owners 1 
At 31 December 2022 1  (466,068) (466,067)
6
General Information
Newtek Ltd is a private company, limited by shares, registered in , registration number 13776711, registration address Apartment 9, Brockenhurst house, Brockenhurst road, Ascot, Berkshire, SL5 9FW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
2.

Average number of employees

Average number of employees during the period was 1.
3.

Debtors: amounts falling due within one year

2022
£
Directors' Current Accounts 92,132 
92,132 

4.

Creditors: amount falling due within one year

2022
£

5.

Creditors: amount falling due after more than one year

2022
£
Other Creditors 561,000 
561,000 

6.

Share Capital

Allotted, called up and fully paid
2022
£
0 Class A share of £0.00 each

7