2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 11,995 11,995 xbrli:pure xbrli:shares iso4217:GBP 07999272 2023-04-01 2024-03-31 07999272 2024-03-31 07999272 2023-03-31 07999272 2022-04-01 2023-03-31 07999272 2023-03-31 07999272 2022-03-31 07999272 core:MotorVehicles 2023-04-01 2024-03-31 07999272 bus:Director1 2023-04-01 2024-03-31 07999272 core:MotorVehicles 2023-03-31 07999272 core:MotorVehicles 2024-03-31 07999272 core:WithinOneYear 2024-03-31 07999272 core:WithinOneYear 2023-03-31 07999272 core:AfterOneYear 2024-03-31 07999272 core:AfterOneYear 2023-03-31 07999272 core:ShareCapital 2024-03-31 07999272 core:ShareCapital 2023-03-31 07999272 core:RetainedEarningsAccumulatedLosses 2024-03-31 07999272 core:RetainedEarningsAccumulatedLosses 2023-03-31 07999272 core:MotorVehicles 2023-03-31 07999272 bus:Director1 2023-03-31 07999272 bus:Director1 2024-03-31 07999272 bus:Director1 2022-03-31 07999272 bus:Director1 2023-03-31 07999272 bus:Director1 2022-04-01 2023-03-31 07999272 bus:SmallEntities 2023-04-01 2024-03-31 07999272 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07999272 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07999272 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07999272 bus:FullAccounts 2023-04-01 2024-03-31 07999272 core:LicencesFranchises 2023-04-01 2024-03-31 07999272 core:ComputerEquipment 2023-04-01 2024-03-31 07999272 core:LicencesFranchises 2024-03-31 07999272 core:ComputerEquipment 2023-03-31 07999272 core:ComputerEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 07999272
NEW VISTA VENTURES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
NEW VISTA VENTURES LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
15,969
18,738
CURRENT ASSETS
Debtors
7
6,252
4,899
Cash at bank and in hand
2,986
10,946
-------
--------
9,238
15,845
CREDITORS: amounts falling due within one year
8
7,176
9,751
-------
--------
NET CURRENT ASSETS
2,062
6,094
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
18,031
24,832
CREDITORS: amounts falling due after more than one year
9
4,523
7,605
PROVISIONS
3,992
3,560
--------
--------
NET ASSETS
9,516
13,667
--------
--------
CAPITAL AND RESERVES
Called up share capital
10
10
Profit and loss account
9,506
13,657
-------
--------
SHAREHOLDERS FUNDS
9,516
13,667
-------
--------
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.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NEW VISTA VENTURES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 5 November 2024 , and are signed on behalf of the board by:
Mr C Bottle Director
Company registration number: 07999272
NEW VISTA VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 21 Upton Hall Lane, Upton, Northampton, NN5 4DG.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. 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 invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference. Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchise Fee
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
25% reducing balance
Computer Equipment
-
33% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. INTANGIBLE ASSETS
Franchise Fee
£
Cost
At 1 April 2023 and 31 March 2024
11,995
--------
Amortisation
At 1 April 2023 and 31 March 2024
11,995
--------
Carrying amount
At 31 March 2024
--------
At 31 March 2023
--------
6. TANGIBLE ASSETS
Motor vehicles
Computer Equipment
Total
£
£
£
Cost
At 1 April 2023
54,990
4,452
59,442
Additions
3,025
3,025
--------
-------
--------
At 31 March 2024
54,990
7,477
62,467
--------
-------
--------
Depreciation
At 1 April 2023
37,592
3,112
40,704
Charge for the year
4,350
1,444
5,794
--------
-------
--------
At 31 March 2024
41,942
4,556
46,498
--------
-------
--------
Carrying amount
At 31 March 2024
13,048
2,921
15,969
--------
-------
--------
At 31 March 2023
17,398
1,340
18,738
--------
-------
--------
7. DEBTORS
2024
2023
£
£
Trade debtors
6,252
4,177
Other debtors
722
-------
-------
6,252
4,899
-------
-------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,976
2,976
Trade creditors
285
2,105
Corporation tax
265
2,680
Social security and other taxes
1,097
184
Other creditors
2,553
1,806
-------
-------
7,176
9,751
-------
-------
9. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,523
7,605
-------
-------
10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Bottle
722
6,221
( 7,701)
( 758)
----
-------
-------
----
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Bottle
( 20,142)
24,509
( 3,645)
722
--------
--------
-------
----