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Company registration number: 11986072
NEW TECHNICAL CONSULTING LIMITED
Unaudited filleted financial statements
31 December 2023
NEW TECHNICAL CONSULTING LIMITED
Contents
Statement of financial position
Notes to the financial statements
NEW TECHNICAL CONSULTING LIMITED
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 5 87,584 95,034
_______ _______
87,584 95,034
Current assets
Debtors 6 59,865 472,619
Cash at bank 95,498 133,726
_______ _______
155,363 606,345
Creditors: amounts falling due
within one year 7 ( 490,052) ( 954,952)
_______ _______
Net current liabilities ( 334,689) ( 348,607)
_______ _______
Net liabilities ( 247,105) ( 253,573)
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account ( 247,107) ( 253,575)
_______ _______
Shareholders deficit ( 247,105) ( 253,573)
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 October 2024 , and are signed on behalf of the board by:
Steven Knights
Director
Company registration number: 11986072
NEW TECHNICAL CONSULTING LIMITED
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Chancellors House, Brampton Lane, London, NW4 4AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis, as in the opinion of the director, the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like current asset investments, trade and other accounts receivable and payable. Debt instruments that are receivable or payable within one year, such as trade receivables and payables are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be received or paid.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 January 2023 and 31 December 2023 424,529 424,529
_______ _______
Impairment
At 1 January 2023 329,495 329,495
Provision for impairment 7,450 7,450
_______ _______
At 31 December 2023 336,945 336,945
_______ _______
Carrying amount
At 31 December 2023 87,584 87,584
_______ _______
At 31 December 2022 95,034 95,034
_______ _______
New Technical Consulting Limited has a 19.80% interest in Mov.Eng S.R.L., a company incorporated in Italy.
6. Debtors
2023 2022
£ £
Trade debtors 59,474 472,619
Other debtors 391 -
_______ _______
59,865 472,619
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 3,307 8,515
Social security and other taxes 1,948 20,295
Other creditors 484,797 926,142
_______ _______
490,052 954,952
_______ _______