Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-12-01falseThe principal activities of the company during the year were those of training, facilitation, graphic facilitation andconsultation.22truetrue 04294050 2022-12-01 2023-11-30 04294050 2021-12-01 2022-11-30 04294050 2023-11-30 04294050 2022-11-30 04294050 c:Director1 2022-12-01 2023-11-30 04294050 d:Buildings d:ShortLeaseholdAssets 2022-12-01 2023-11-30 04294050 d:Buildings d:ShortLeaseholdAssets 2023-11-30 04294050 d:Buildings d:ShortLeaseholdAssets 2022-11-30 04294050 d:MotorVehicles 2022-12-01 2023-11-30 04294050 d:MotorVehicles 2023-11-30 04294050 d:MotorVehicles 2022-11-30 04294050 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04294050 d:FurnitureFittings 2022-12-01 2023-11-30 04294050 d:FurnitureFittings 2023-11-30 04294050 d:FurnitureFittings 2022-11-30 04294050 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04294050 d:OfficeEquipment 2022-12-01 2023-11-30 04294050 d:OfficeEquipment 2023-11-30 04294050 d:OfficeEquipment 2022-11-30 04294050 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04294050 d:ComputerEquipment 2022-12-01 2023-11-30 04294050 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04294050 d:CurrentFinancialInstruments 2023-11-30 04294050 d:CurrentFinancialInstruments 2022-11-30 04294050 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 04294050 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 04294050 d:ShareCapital 2023-11-30 04294050 d:ShareCapital 2022-11-30 04294050 d:RetainedEarningsAccumulatedLosses 2023-11-30 04294050 d:RetainedEarningsAccumulatedLosses 2022-11-30 04294050 c:FRS102 2022-12-01 2023-11-30 04294050 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 04294050 c:FullAccounts 2022-12-01 2023-11-30 04294050 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 04294050










NEW POSSIBILITIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
NEW POSSIBILITIES LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 6

 
NEW POSSIBILITIES LIMITED
REGISTERED NUMBER: 04294050

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,020
8,161

Current assets
  

Debtors: amounts falling due within one year
 5 
27,601
13,282

Cash at bank and in hand
  
35,896
42,752

  
63,497
56,034

Creditors: amounts falling due within one year
 6 
(35,092)
(21,293)

Net current assets
  
 
 
28,405
 
 
34,741

Total assets less current liabilities
  
40,425
42,902

Provisions for liabilities
  

Deferred tax
  
(3,005)
(1,326)

Net assets
  
37,420
41,576


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
37,320
41,476

  
37,420
41,576


The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 30 April 2024.

A.R. Geyer
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
NEW POSSIBILITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

New Possibilites Limited (the Company) is a private company limited by shares, incorporated and domiciled in England. The address of the registered office is Rutland House, 148 Edmund Street, Birmingham, B3 2FD.

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 financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

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:

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.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
NEW POSSIBILITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Short term leasehold property
-
20% straight line
Motor vehicles
-
25% reducing balance
Fixtures, fittings and equipment
-
20% straight line
Computer equipment
-
33.33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

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.

 
2.5

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 and loans to related parties.

 
2.6

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.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Page 3

 
NEW POSSIBILITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
NEW POSSIBILITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Short term leasehold property
Motor vehicles
Fixtures, fittings and equipment
Computer equipment
Total

£
£
£
£
£



Cost


At 1 December 2022
13,228
25,050
6,253
19,719
64,250


Additions
-
2,440
1,767
6,778
10,985



At 30 November 2023

13,228
27,490
8,020
26,497
75,235



Depreciation


At 1 December 2022
12,043
20,593
6,253
17,200
56,089


Charge for the year on owned assets
1,185
1,725
353
3,863
7,126



At 30 November 2023

13,228
22,318
6,606
21,063
63,215



Net book value



At 30 November 2023
-
5,172
1,414
5,434
12,020



At 30 November 2022
1,185
4,457
-
2,519
8,161


5.


Debtors

2023
2022
£
£


Trade debtors
13,588
12,783

Other debtors
13,500
-

Prepayments and accrued income
513
499

27,601
13,282


Page 5

 
NEW POSSIBILITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
795
1,502

Corporation tax
9,800
12,922

Other taxation and social security
6,275
5,344

Accruals and deferred income
18,222
1,525

35,092
21,293


 
Page 6