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Registration number: 11555139

New Leaf Project Solutions Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

New Leaf Project Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

New Leaf Project Solutions Limited

Company Information

Director

Mr Alexander Edward Phillips

Registered office

7 Fieldfare Gardens
Yatton
North Somerset
BS49 4FT

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

New Leaf Project Solutions Limited

(Registration number: 11555139)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

         

Fixed assets

   

Tangible assets

4

 

488

200

Current assets

   

Debtors

5

-

 

1,113

Cash at bank and in hand

 

27,349

 

55,444

 

27,349

 

56,557

Creditors: Amounts falling due within one year

6

(55,233)

 

(78,403)

Net current liabilities

   

(27,884)

(21,846)

Net liabilities

   

(27,396)

(21,646)

Capital and reserves

   

Called up share capital

1

 

1

Retained earnings

(27,397)

 

(21,647)

Shareholders' deficit

   

(27,396)

(21,646)

For the financial year ending 30 September 2024 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 4 November 2024
 

.........................................

Mr Alexander Edward Phillips
Director

 

New Leaf Project Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
7 Fieldfare Gardens
Yatton
North Somerset
BS49 4FT

These financial statements were authorised for issue by the director on 4 November 2024.

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 financial statements have been prepared on a going concern basis.

Revenue recognition

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

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

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.

 

New Leaf Project Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

New Leaf Project Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

1,500

1,500

Additions

532

532

At 30 September 2024

2,032

2,032

Depreciation

At 1 October 2023

1,300

1,300

Charge for the year

244

244

At 30 September 2024

1,544

1,544

Carrying amount

At 30 September 2024

488

488

At 30 September 2023

200

200

5

Debtors

Current

2024
£

2023
£

Other debtors

-

1,113

 

-

1,113

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

4,234

-

Accruals and deferred income

1,240

1,200

Other creditors

49,759

77,203

55,233

78,403

 

New Leaf Project Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Related party transactions

The company was under the control of Mr AE Phillips throughout the current and previous period. Mr AE Phillips is the managing director and sole shareholder.

During the period Mr AE Phillips maintained a loan account with the company. As at the period end the company owed Mr AE Phillips £49,759 (2023: £77,204). There are no fixed repayment terms associated with this loan and no interest is charged on the outstanding amount.

No further transactions were undertaken that need to be disclosed under FRS 102.