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REGISTERED NUMBER: 11782681 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

New World Sourcing Limited

New World Sourcing Limited (Registered number: 11782681)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


New World Sourcing Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mr V Sharma





REGISTERED OFFICE: Office 1 Hatherton Court
Hatherton Street
Walsall
United Kingdom
WS4 2LA





REGISTERED NUMBER: 11782681 (England and Wales)





ACCOUNTANTS: Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA

New World Sourcing Limited (Registered number: 11782681)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 117,341 224

CURRENT ASSETS
Debtors 5 895,409 466,416
Cash at bank and in hand 1,880,343 1,508,254
2,775,752 1,974,670
CREDITORS
Amounts falling due within one year 6 (1,545,302 ) (1,645,642 )
NET CURRENT ASSETS 1,230,450 329,028
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,347,791

329,252

CREDITORS
Amounts falling due after more than
one year

7

(73,129

)

-
NET ASSETS 1,274,662 329,252

CAPITAL AND RESERVES
Called up share capital 2,500 2,500
Retained earnings 1,272,162 326,752
SHAREHOLDERS' FUNDS 1,274,662 329,252

New World Sourcing Limited (Registered number: 11782681)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 28 March 2024 and were signed by:





Mr V Sharma - Director


New World Sourcing Limited (Registered number: 11782681)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

New World Sourcing Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 88 ) .

New World Sourcing Limited (Registered number: 11782681)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 224 - - - 224
Additions 1,754 1,741 124,080 399 127,974
At 30 June 2023 1,978 1,741 124,080 399 128,198
DEPRECIATION
Charge for year 484 - 10,340 33 10,857
At 30 June 2023 484 - 10,340 33 10,857
NET BOOK VALUE
At 30 June 2023 1,494 1,741 113,740 366 117,341
At 30 June 2022 224 - - - 224

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 278,988 61,515
Other debtors 616,421 404,901
895,409 466,416

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 34,910 -
Trade creditors 726,307 249,860
Taxation and social security 235,367 444,848
Other creditors 548,718 950,934
1,545,302 1,645,642

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 73,129 -

New World Sourcing Limited (Registered number: 11782681)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


8. RELATED PARTY DISCLOSURES

The company owes £29,700 (2022: £1,602) to Evolve Hospitality Limited of which Vijay Sharma is the director

The company was owed £127,500 (2022:£0) by VS Hospitality Ltd of which Vijay Sharma is a shareholder only