Acorah Software Products - Accounts Production 15.0.600 false true true false 30 November 2022 30 November 2023 30 November 2023 14515622 Mr G Li Mr C G Lorenzo Newsmile Technology Inc. iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14515622 2022-11-29 14515622 2023-11-30 14515622 2022-11-30 2023-11-30 14515622 frs-core:CurrentFinancialInstruments 2023-11-30 14515622 frs-core:ShareCapital 2023-11-30 14515622 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 14515622 frs-bus:PrivateLimitedCompanyLtd 2022-11-30 2023-11-30 14515622 frs-bus:FilletedAccounts 2022-11-30 2023-11-30 14515622 frs-bus:SmallEntities 2022-11-30 2023-11-30 14515622 frs-bus:AuditExempt-NoAccountantsReport 2022-11-30 2023-11-30 14515622 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-30 2023-11-30 14515622 frs-bus:Director1 2022-11-30 2023-11-30 14515622 frs-bus:Director2 2022-11-30 2023-11-30 14515622 frs-bus:CompanySecretary1 2022-11-30 2023-11-30 14515622 frs-countries:EnglandWales 2022-11-30 2023-11-30
Registered number: 14515622
Newsmile Technology UK Ltd
Unaudited Financial Statements
For the Period 30 November 2022 to 30 November 2023
Strategic Partnership
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 14515622
30 November 2023
Notes £ £
CURRENT ASSETS
Debtors 4 48,081
Cash at bank and in hand 48,284
96,365
Creditors: Amounts Falling Due Within One Year 5 (141,929 )
NET CURRENT ASSETS (LIABILITIES) (45,564 )
TOTAL ASSETS LESS CURRENT LIABILITIES (45,564 )
NET LIABILITIES (45,564 )
CAPITAL AND RESERVES
Called up share capital 6 100
Income Statement (45,664 )
SHAREHOLDERS' FUNDS (45,564)
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr G Li
Director
29 August 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Newsmile Technology UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14515622 . The registered office is 128 City Road, London, EC1V 2NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are prepared in accordance with the FRS 102 Section 1 A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
These financial statements for the period ended 30 November 2023 are the first financial statements of Newsmile Technology Limited prepared in accordance with FRS 102 (Section 1 A), The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of adoption to FRS 102 (Section 1 A) was 30 November 2022.
The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statemen rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and have arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concem basis of accounting in preparing the financial statements
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, ner of discounts, value added taxes and other sales taxes.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.7. Critical Accounting Judgements And Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates,
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 4
4
Page 2
Page 3
4. Debtors
30 November 2023
£
Due within one year
Trade debtors 47,936
Prepayments and accrued income 145
48,081
5. Creditors: Amounts Falling Due Within One Year
30 November 2023
£
Trade creditors 55,777
Accruals and deferred income 83,677
Directors' loan accounts 900
Amounts owed to parent undertaking 1,575
141,929
6. Share Capital
30 November 2023
£
Allotted, Called up and fully paid 100
During the period, the company issued 100 Ordinary shares at par value, being £1 per share. As at the period end, the company had 100 £1 Ordinary shares in issue.
7. Related Party Transactions
The Director's loan account balance of Mr G Li of £900 as at the period end, is a current liability, interest free and repayable on demand.
The amount owed to Newsmile Technology Inc., the company's sole parent, totalled £1,575 as at the period end, which is a current liability, interest free and repayable on demand.
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