IRIS Accounts Production v24.2.0.383 08118317 Board of Directors 1.1.23 31.12.23 31.12.23 24.9.24 0 0 false true false false true false Auditors Opinion Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh081183172022-12-31081183172023-12-31081183172023-01-012023-12-31081183172021-12-31081183172022-01-012022-12-31081183172022-12-3108118317ns15:EnglandWales2023-01-012023-12-3108118317ns14:PoundSterling2023-01-012023-12-3108118317ns10:Director12023-01-012023-12-3108118317ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3108118317ns10:SmallEntities2023-01-012023-12-3108118317ns10:Audited2023-01-012023-12-3108118317ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3108118317ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3108118317ns10:FullAccounts2023-01-012023-12-3108118317ns10:OrdinaryShareClass12023-01-012023-12-3108118317ns10:Director22023-01-012023-12-3108118317ns10:Director32023-01-012023-12-3108118317ns10:RegisteredOffice2023-01-012023-12-3108118317ns5:CurrentFinancialInstruments2023-12-3108118317ns5:CurrentFinancialInstruments2022-12-3108118317ns5:ShareCapital2023-12-3108118317ns5:ShareCapital2022-12-3108118317ns5:RetainedEarningsAccumulatedLosses2023-12-3108118317ns5:RetainedEarningsAccumulatedLosses2022-12-3108118317ns5:CostValuation2022-12-3108118317ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 08118317 (England and Wales)













Financial Statements

for the Year Ended 31 December 2023

for

Newfuturevest Limited

Newfuturevest Limited (Registered number: 08118317)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Newfuturevest Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Gale
J Gale
AS Field





REGISTERED OFFICE: c/o International ProcessPlants (Europe)
Limited - The Grange Business Centre
Belasis Avenue
Billingham
TS23 1LG





REGISTERED NUMBER: 08118317 (England and Wales)





AUDITORS: Anderson Barrowcliff Limited
Statutory Auditors
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Newfuturevest Limited (Registered number: 08118317)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 535,715 535,715

CURRENT ASSETS
Debtors 5 827 827
Cash at bank 8,467 346
9,294 1,173
CREDITORS
Amounts falling due within one year 6 537,154 537,154
NET CURRENT LIABILITIES (527,860 ) (535,981 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,855

(266

)

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 6,855 (1,266 )
SHAREHOLDERS' FUNDS 7,855 (266 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





AS Field - Director


Newfuturevest Limited (Registered number: 08118317)

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

1. STATUTORY INFORMATION

Newfuturevest Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Notwithstanding the net current liabilities figure of £527,860 (2022: £535,981) as shown in the Balance Sheet, these accounts have been prepared on a going concern basis.

Included within current liabilities is a loan from the company's parent company of £535,714, a loan which is repayable on demand. The directors have received confirmation from the parent company that repayment of this loan will not be demanded to the detriment of the company's ability to trade.

Accordingly, the directors are of the opinion that it is wholly appropriate for these financial statements to be prepared on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Newfuturevest Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences.

Debtors and creditors receivable/payable
Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Newfuturevest Limited (Registered number: 08118317)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 535,715
NET BOOK VALUE
At 31 December 2023 535,715
At 31 December 2022 535,715

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 827 827

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 535,714 535,714
Accrued expenses 1,440 1,440
537,154 537,154

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary Shares £1 1,000 1,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Dewing FCCA, ACA (Senior Statutory Auditor)
for and on behalf of Anderson Barrowcliff Limited

Newfuturevest Limited (Registered number: 08118317)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. RELATED PARTY DISCLOSURES

During the year the company undertook transactions with various related parties, and/or provided or received funds to assist or to be assisted with working capital requirements as detailed below:

Group companies
2023 2022
£    £   

Total loan amount owed by Newfuturevest Limited at the year end 535,714 535,714

This loan is free of interest and repayable on demand.

Other related parties - common control
2023 2022
£    £   

Total loan amount due to Newfuturevest Limited at the year end 827 827

10. ULTIMATE HOLDING COMPANY

The ultimate holding company is Newfuturevest II LLC and is incorporated in United States of America. It's registered office is 17A Marlen Drive, Trenton, New Jersey, 08691, United States of America.