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REGISTERED NUMBER: 09947067 (England and Wales)




















Financial Statements

for the Year Ended 31 August 2023

for

NEW VENTURES HOLDINGS LTD

NEW VENTURES HOLDINGS LTD (REGISTERED NUMBER: 09947067)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEW VENTURES HOLDINGS LTD

Company Information
for the Year Ended 31 August 2023







DIRECTOR: Mr T J Sheppard





REGISTERED OFFICE: 143 Station Road
Hampton
Middlesex
TW12 2AL





REGISTERED NUMBER: 09947067 (England and Wales)





ACCOUNTANTS: Alvis & Company (Accountants) Limited
143 Station Road
Hampton
Middlesex
TW12 2AL

NEW VENTURES HOLDINGS LTD (REGISTERED NUMBER: 09947067)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,665 3,384
Investment property 6 445,615 522,700
447,280 526,084

CURRENT ASSETS
Debtors 7 50,823 21,371
Cash at bank 83,256 9,040
134,079 30,411
CREDITORS
Amounts falling due within one year 8 (321,623 ) (356,768 )
NET CURRENT LIABILITIES (187,544 ) (326,357 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,736

199,727

CREDITORS
Amounts falling due after more than one
year

9

(297,827

)

(257,028

)
NET LIABILITIES (38,091 ) (57,301 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (38,191 ) (57,401 )
SHAREHOLDERS' FUNDS (38,091 ) (57,301 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NEW VENTURES HOLDINGS LTD (REGISTERED NUMBER: 09947067)

Balance Sheet - continued
31 August 2023


The 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.

The financial statements were approved by the director and authorised for issue on 12 February 2024 and were signed by:





Mr T J Sheppard - Director


NEW VENTURES HOLDINGS LTD (REGISTERED NUMBER: 09947067)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

New Ventures Holdings 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Know How are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture & fittings - 25% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

NEW VENTURES HOLDINGS LTD (REGISTERED NUMBER: 09947067)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2022
and 31 August 2023 19,047
AMORTISATION
At 1 September 2022
and 31 August 2023 19,047
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

5. TANGIBLE FIXED ASSETS
Furniture Computer
& fittings equipment Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 18,239 1,219 19,458
DEPRECIATION
At 1 September 2022 15,076 998 16,074
Charge for year 1,522 197 1,719
At 31 August 2023 16,598 1,195 17,793
NET BOOK VALUE
At 31 August 2023 1,641 24 1,665
At 31 August 2022 3,163 221 3,384

NEW VENTURES HOLDINGS LTD (REGISTERED NUMBER: 09947067)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 522,700
Disposals (77,085 )
At 31 August 2023 445,615
NET BOOK VALUE
At 31 August 2023 445,615
At 31 August 2022 522,700

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 38,043 10,741
Other debtors 12,780 10,630
50,823 21,371

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 10,648 9,063
Trade creditors 2,634 2,789
Taxation and social security 268 -
Other creditors 308,073 344,916
321,623 356,768

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 297,827 257,028

NEW VENTURES HOLDINGS LTD (REGISTERED NUMBER: 09947067)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Castle Trust Capital 170,159 170,156
Together Commercial Finance 105,920 54,000
276,079 224,156

The mortgage provided by Together Commercial Finance Limited is secured against the freehold interest in the land and property known as 10 Seaborne Street and 22 Fitzwillian Street by way of fixed and floating charges.

The mortgage provided by Castle Trust Capital PLACE is secured against the freehold interest in the land and property known as 12 Chester Street by way of fixed charges.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Ordinary £1.00 100 100

12. GOING CONCERN

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.