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REGISTERED NUMBER: 07400859 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

NEW PIONEER LTD

NEW PIONEER LTD (Registered number: 07400859)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


NEW PIONEER LTD

Company Information
for the Year Ended 31 March 2024







DIRECTOR: MRS H L Y TANG





SECRETARY: MERLIN BUSINESS SERVICES UK LTD





REGISTERED OFFICE: STAFFORDSHIRE KNOT
PINFOLD STREET
WEDNESBURY
WS10 8TE





REGISTERED NUMBER: 07400859 (England and Wales)






NEW PIONEER LTD (Registered number: 07400859)

Report of the Director
for the Year Ended 31 March 2024

The director presents her report with the financial statements of the company for the year ended 31 March 2024.

DIRECTOR
MRS H L Y TANG held office during the whole of the period from 1 April 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





MRS H L Y TANG - Director


1 November 2024

NEW PIONEER LTD (Registered number: 07400859)

Income Statement
for the Year Ended 31 March 2024

31/3/24 31/3/23
£    £   

TURNOVER 73,838 74,067

Cost of sales 56,302 54,168
GROSS PROFIT 17,536 19,899

Administrative expenses 16,933 19,148
OPERATING PROFIT and
PROFIT BEFORE TAXATION 603 751

Tax on profit 115 143
PROFIT FOR THE FINANCIAL YEAR 488 608

NEW PIONEER LTD (Registered number: 07400859)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 37,000 37,000

CURRENT ASSETS
Stocks 2,877 2,808
Cash at bank and in hand 7,123 10,560
10,000 13,368
CREDITORS
Amounts falling due within one year 5 36,379 40,235
NET CURRENT LIABILITIES (26,379 ) (26,867 )
TOTAL ASSETS LESS CURRENT LIABILITIES 10,621 10,133

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 10,620 10,132
SHAREHOLDERS' FUNDS 10,621 10,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the director and authorised for issue on 1 November 2024 and were signed by:





MRS H L Y TANG - Director


NEW PIONEER LTD (Registered number: 07400859)

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

1. STATUTORY INFORMATION

NEW PIONEER LTD 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

NEW PIONEER LTD (Registered number: 07400859)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 37,000
NET BOOK VALUE
At 31 March 2024 37,000
At 31 March 2023 37,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 5 5
Tax 115 143
Directors' current accounts 35,853 39,681
Accrued expenses 406 406
36,379 40,235