Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-291false2023-03-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11801845 2023-03-01 2024-02-29 11801845 2022-03-01 2023-02-28 11801845 2024-02-29 11801845 2023-02-28 11801845 2022-03-01 11801845 c:Director1 2023-03-01 2024-02-29 11801845 d:CurrentFinancialInstruments 2024-02-29 11801845 d:CurrentFinancialInstruments 2023-02-28 11801845 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 11801845 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11801845 d:ShareCapital 2024-02-29 11801845 d:ShareCapital 2023-02-28 11801845 d:ShareCapital 2022-03-01 11801845 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 11801845 d:RetainedEarningsAccumulatedLosses 2024-02-29 11801845 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 11801845 d:RetainedEarningsAccumulatedLosses 2023-02-28 11801845 d:RetainedEarningsAccumulatedLosses 2022-03-01 11801845 c:OrdinaryShareClass1 2023-03-01 2024-02-29 11801845 c:OrdinaryShareClass1 2024-02-29 11801845 c:OrdinaryShareClass1 2023-02-28 11801845 c:OrdinaryShareClass2 2023-03-01 2024-02-29 11801845 c:OrdinaryShareClass2 2024-02-29 11801845 c:OrdinaryShareClass2 2023-02-28 11801845 c:OrdinaryShareClass3 2023-03-01 2024-02-29 11801845 c:OrdinaryShareClass3 2024-02-29 11801845 c:OrdinaryShareClass3 2023-02-28 11801845 c:FRS102 2023-03-01 2024-02-29 11801845 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11801845 c:FullAccounts 2023-03-01 2024-02-29 11801845 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11801845 2 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11801845









NEW FORMATIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
NEW FORMATIONS LIMITED
REGISTERED NUMBER: 11801845

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 4 
102,000
99,250

Current asset investments
 5 
120,000
-

Cash at bank and in hand
 6 
1,759,399
982,389

Creditors: amounts falling due within one year
 7 
(667,754)
(195,836)

  

Net assets
  
1,313,645
885,803


Capital and reserves
  

Called up share capital 
 8 
40
40

Profit and loss account
  
1,313,605
885,763

  
1,313,645
885,803


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 November 2024.




................................................
Daniel Becker
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 
NEW FORMATIONS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 March 2022
40
266,563
266,603



Profit for the year
-
755,700
755,700

Dividends: Equity capital
-
(136,500)
(136,500)



At 1 March 2023
40
885,763
885,803



Profit for the year
-
754,842
754,842

Dividends: Equity capital
-
(327,000)
(327,000)


At 29 February 2024
40
1,313,605
1,313,645


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
NEW FORMATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

New Formations Limited is a private company limited by share capital, incorporated in England and Wales, registration number 11801845. The address of the registered office is Cedar House 73 Blanche Lane, South Mimms, Potters Bar, Hertfordshire, United Kingdom, EN6 3PA

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis as the director believes adequate resources exist to enable it to meet its working capital requirements for at least the next twelve months. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
NEW FORMATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
NEW FORMATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
-
99,250

Other debtors
102,000
-

102,000
99,250



5.


Current asset investments

29 February
28 February
2024
2023
£
£

Listed investments
120,000
-

120,000
-



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
1,759,399
982,389

1,759,399
982,389


Page 5

 
NEW FORMATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
360
324

Corporation tax
244,866
177,289

Other taxation and social security
1,098
567

Other creditors
418,930
12,656

Accruals and deferred income
2,500
5,000

667,754
195,836


Included in other creditors is an amount of £400,000 relating to disputed sales invoices.


8.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



10 (2023 - 10) Ordinary A shares of £1.00 each
10
10
10 (2023 - 10) Ordinary B shares of £1.00 each
10
10
20 (2023 - 20) Ordinary C shares of £1.00 each
20
20

40

40



9.


Related party transactions

Included in other creditors at the balance sheet date is an amount of £8,070 (2023: £6,200) owed to the director in respect of expenses incurred on behalf of the company. This loan is interest free and repayable on demand.

 
Page 6