New World Consultancy Limited 04285829 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is provision of consultancy services Digita Accounts Production Advanced 6.30.9574.0 true 04285829 2023-04-01 2024-03-31 04285829 2024-03-31 04285829 core:RetainedEarningsAccumulatedLosses 2024-03-31 04285829 core:ShareCapital 2024-03-31 04285829 core:CurrentFinancialInstruments 2024-03-31 04285829 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04285829 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04285829 core:FurnitureFittingsToolsEquipment 2024-03-31 04285829 bus:SmallEntities 2023-04-01 2024-03-31 04285829 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04285829 bus:FilletedAccounts 2023-04-01 2024-03-31 04285829 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04285829 bus:RegisteredOffice 2023-04-01 2024-03-31 04285829 bus:Director2 2023-04-01 2024-03-31 04285829 bus:Director3 2023-04-01 2024-03-31 04285829 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04285829 core:OfficeEquipment 2023-04-01 2024-03-31 04285829 countries:EnglandWales 2023-04-01 2024-03-31 04285829 2023-03-31 04285829 core:FurnitureFittingsToolsEquipment 2023-03-31 04285829 2022-04-01 2023-03-31 04285829 2023-03-31 04285829 core:RetainedEarningsAccumulatedLosses 2023-03-31 04285829 core:ShareCapital 2023-03-31 04285829 core:CurrentFinancialInstruments 2023-03-31 04285829 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04285829 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04285829

New World Consultancy Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

New World Consultancy Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

New World Consultancy Limited

Company Information

Directors

I J Knighton

R A Knighton

Registered office

76 Canterbury Road
Croydon
Surrey
CR0 3HA

Accountants

Affinity Associates (Flemmings) Limited
(Trading as Flemmings)
Chartered Accountants
76 Canterbury Road
Croydon
Surrey
CR0 3HA

 

New World Consultancy Limited

(Registration number: 04285829)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

15,200

20,746

Cash at bank and in hand

 

3,074

5,359

 

18,274

26,105

Creditors: Amounts falling due within one year

6

(12,650)

(20,116)

Total assets less current liabilities

 

5,624

5,989

Creditors: Amounts falling due after more than one year

6

(4,605)

(5,398)

Net assets

 

1,019

591

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

919

491

Shareholders' funds

 

1,019

591

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

.........................................
I J Knighton
Director

   
     
 

New World Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

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:
76 Canterbury Road
Croydon
Surrey
CR0 3HA
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006

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.

The financial statements are presented in Pound Sterling, which is the functional currency of the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
i. The amount of revenue can be reliably measured;
ii. it is probable that future economic benefits will flow to the entity;
iii. and specific criteria have been met for each of the company's activities.

In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not involved. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

New World Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

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

33% Straight Line Method

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

New World Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

4,958

4,958

At 31 March 2024

4,958

4,958

Depreciation

At 1 April 2023

4,958

4,958

At 31 March 2024

4,958

4,958

Carrying amount

At 31 March 2024

-

-

5

Debtors

2024
£

2023
£

Other debtors

4,317

5,678

Directors' current accounts

10,883

15,068

15,200

20,746

 

New World Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

1,580

1,580

Trade creditors

 

-

1,050

Taxation and social security

 

5,798

7,588

Accruals and deferred income

 

1,440

-

Corporation tax control

 

3,832

9,898

 

12,650

20,116

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

4,605

5,398

7

Related party transactions

Other transactions with directors
Mr I J Knighton and Mrs R A Knighton (Directors and Shareholders)

At the balance sheet date the amount due (from)/to Mr I J Knighton and Mrs R A Knighton was (£10,883) (2023: (£15,068)).