Registered number
13119529
NEWISDOM Limited
Unaudited Filleted Accounts
31 December 2023
NEWISDOM Limited
Registered number: 13119529
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,937 2,565
Current assets
Debtors 4 441,632 322,546
Cash at bank and in hand 506,591 478,035
948,223 800,581
Creditors: amounts falling due within one year 5 (338,820) (284,851)
Net current assets 609,403 515,730
Total assets less current liabilities 611,340 518,295
Provisions for liabilities (484) (487)
Net assets 610,856 517,808
Capital and reserves
Called up share capital 1 1
Profit and loss account 610,855 517,807
Shareholder's funds 610,856 517,808
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Artur Pereira
Director
Approved by the board on 16 September 2024
NEWISDOM Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
1 Accounting policies (continued)
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 3,141
At 31 December 2023 3,141
Depreciation
At 1 January 2023 576
Charge for the year 628
At 31 December 2023 1,204
Net book value
At 31 December 2023 1,937
At 31 December 2022 2,565
4 Debtors 2023 2022
£ £
Trade debtors 31,656 33,040
Other debtors 409,976 289,506
441,632 322,546
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,872 121,307
Taxation and social security costs 92,076 60,464
Other creditors 240,872 103,080
338,820 284,851
6 Controlling party
The controlling party is Artur Alexandre De Carvalho Pereira by virtue of his 100% ownership of the issued ordinary share capital of the company.
7 Other information
NEWISDOM Limited is a private company limited by shares and incorporated in England. Its registered office is:
108-110 Coombe Lane
London
SW20 0AY
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