1 false false false false false false false false false true false false false false false false No description of principal activity 2022-06-07 Sage Accounts Production Advanced 2021 - FRS102_2021 1,920 1,920 438 438 1,482 xbrli:pure xbrli:shares iso4217:GBP 14155074 2022-06-07 2023-09-30 14155074 2023-09-30 14155074 bus:Director1 2022-06-07 2023-09-30 14155074 core:WithinOneYear 2023-09-30 14155074 core:ShareCapital 2023-09-30 14155074 core:RetainedEarningsAccumulatedLosses 2023-09-30 14155074 bus:SmallEntities 2022-06-07 2023-09-30 14155074 bus:AuditExemptWithAccountantsReport 2022-06-07 2023-09-30 14155074 bus:FullAccounts 2022-06-07 2023-09-30 14155074 bus:SmallCompaniesRegimeForAccounts 2022-06-07 2023-09-30 14155074 bus:PrivateLimitedCompanyLtd 2022-06-07 2023-09-30 14155074 core:OfficeEquipment 2022-06-07 2023-09-30 14155074 core:OfficeEquipment 2023-09-30
COMPANY REGISTRATION NUMBER: 14155074
NEW I.D LIVING LIMITED
Filleted Unaudited Financial Statements
30 September 2023
NEW I.D LIVING LIMITED
Statement of Financial Position
30 September 2023
30 Sep 23
Note
£
Fixed assets
Tangible assets
5
1,482
Current assets
Stocks
5,000
Debtors
6
178,679
Cash at bank and in hand
336,807
---------
520,486
Creditors: amounts falling due within one year
7
408,997
---------
Net current assets
111,489
---------
Total assets less current liabilities
112,971
---------
Net assets
112,971
---------
Capital and reserves
Called up share capital
1
Profit and loss account
112,970
---------
Shareholders funds
112,971
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NEW I.D LIVING LIMITED
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 15 March 2024 , and are signed on behalf of the board by:
Mr J P Caplan
Director
Company registration number: 14155074
NEW I.D LIVING LIMITED
Notes to the Financial Statements
Period from 7 June 2022 to 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Office F7, Silverbox House, East Lane Business Park, 56 Magnet Road, Wembley, HA9 7FP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
Equipment
£
Cost
At 7 June 2022
Additions
1,920
-------
At 30 September 2023
1,920
-------
Depreciation
At 7 June 2022
Charge for the period
438
-------
At 30 September 2023
438
-------
Carrying amount
At 30 September 2023
1,482
-------
6. Debtors
30 Sep 23
£
Trade debtors
178,679
---------
7. Creditors: amounts falling due within one year
30 Sep 23
£
Bank loans and overdrafts
10,000
Trade creditors
277,139
Corporation tax
55,917
Social security and other taxes
13,365
Other creditors
52,576
---------
408,997
---------