Caseware UK (AP4) 2023.0.135 2023.0.135 2022-12-312022-12-312021-11-15falseInvesment holding company10truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13743214 2021-11-14 13743214 2021-11-15 2022-12-31 13743214 2020-11-15 2021-11-14 13743214 2022-12-31 13743214 c:Director1 2021-11-15 2022-12-31 13743214 d:CurrentFinancialInstruments 2022-12-31 13743214 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13743214 d:ShareCapital 2022-12-31 13743214 d:RetainedEarningsAccumulatedLosses 2022-12-31 13743214 c:OrdinaryShareClass1 2021-11-15 2022-12-31 13743214 c:OrdinaryShareClass1 2022-12-31 13743214 c:FRS102 2021-11-15 2022-12-31 13743214 c:AuditExempt-NoAccountantsReport 2021-11-15 2022-12-31 13743214 c:FullAccounts 2021-11-15 2022-12-31 13743214 c:PrivateLimitedCompanyLtd 2021-11-15 2022-12-31 13743214 6 2021-11-15 2022-12-31 13743214 e:PoundSterling 2021-11-15 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13743214









NEWAGE HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
NEWAGE HOLDINGS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 5


 
NEWAGE HOLDINGS LIMITED
REGISTERED NUMBER: 13743214

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
Note
£

Fixed assets
  

Investments
 4 
900

  
900

Current assets
  

Debtors: amounts falling due within one year
 5 
10

  
10

Creditors: amounts falling due within one year
 6 
(43,404)

Net current liabilities
  
 
 
(43,394)

Total assets less current liabilities
  
(42,494)

  

Net liabilities
  
(42,494)


Capital and reserves
  

Called up share capital 
 7 
1,000

Profit and loss account
  
(43,494)

  
(42,494)


Page 1

 
NEWAGE HOLDINGS LIMITED
REGISTERED NUMBER: 13743214
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by:

................................................
K A A Biobaku
Director

Date: 14 September 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
NEWAGE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Newage Holdings Limited is a private company limited by shares and incorporated in England and Wales with registration number 13743214. The registered office is Eighth Floor, 6 New Street Square, New Fetter Lane, London, United Kingdom, EC4A 3AQ.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
The company expects continued financial support from its main shareholder, who has confirmed he will provide such support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing these financial statements.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

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.

 
2.6

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

Related party transaction exemption

The company has taken advantage of the exemption in respect of disclosure of transactions with the parent company, on the grounds that the company is a wholly owned subsidiary.

Page 3

 
NEWAGE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

3.


Employees




The average monthly number of employees, including non-payrolled director during the period was 1.


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


Additions
900



At 31 December 2022

900



Net book value



At 31 December 2022
900

The investment represents 100% ownership in Dalio Property Development Company Limited, a company incorporated in Nigeria.


5.


Debtors

2022
£


Called up share capital not paid
10



6.


Creditors: Amounts falling due within one year

2022
£

Amounts owed to group undertakings
23,194

Other creditors
10,710

Accruals and deferred income
9,500

43,404


Page 4

 
NEWAGE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

7.


Share capital

2022
£
Allotted, called up and fully paid


990 Ordinary shares of £1 each
990

Allotted, called up and not paid


10 Ordinary shares of £1 each
10


On incorporation, the company issued 100 Ordinary shares with a par value of £1. On 21 June 2022, 900 Ordinary shares were issued with a par value of £1.

 
Page 5