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Registration number: 09293665

Newtrack Project Direction Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Newtrack Project Direction Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Newtrack Project Direction Ltd

(Registration number: 09293665)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,022

1,362

Current assets

 

Debtors

5

103,552

86,611

Cash at bank and in hand

 

20,012

28,153

 

123,564

114,764

Creditors: Amounts falling due within one year

6

(104,139)

(85,342)

Net current assets

 

19,425

29,422

Total assets less current liabilities

 

20,447

30,784

Creditors: Amounts falling due after more than one year

6

(20,155)

(30,297)

Net assets

 

292

487

Capital and reserves

 

Called up share capital

100

100

Retained earnings

192

387

Shareholders' funds

 

292

487

 

Newtrack Project Direction Ltd

(Registration number: 09293665)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2024
 

.........................................
N Davies
Director

 

Newtrack Project Direction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The director believes the company has adequate resources to continue in operational existence such that they believe the continued use of the going concern basis to be appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of management and commercial consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Newtrack Project Direction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Reducing Balance

Fixtures and Fittings

25% Reducing Balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Newtrack Project Direction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

899

5,557

6,456

At 31 December 2023

899

5,557

6,456

Depreciation

At 1 January 2023

772

4,322

5,094

Charge for the year

31

309

340

At 31 December 2023

803

4,631

5,434

Carrying amount

At 31 December 2023

96

926

1,022

At 31 December 2022

127

1,235

1,362

 

Newtrack Project Direction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

Current

2023
£

2022
£

Other debtors

103,552

86,611

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

10,142

9,892

Taxation and social security

91,175

74,115

Other creditors

2,822

1,335

104,139

85,342

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

20,155

30,297

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,142

9,892

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

20,155

30,297

 

Newtrack Project Direction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

N Davies

Overdrawn DLA

58,111

21,198

(15,762)

63,547

         
       

 

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

N Davies

Overdrawn DLA

47,058

50,687

(39,634)

58,111

         
       

 

Other transactions with the director

N Davies (director) had a loan account with the company on which interest has been charged at the HMRC official rate. At the balance sheet date the amount due from N Davies was £63,547 (2022: £58,111).