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COMPANY REGISTRATION NUMBER: 12899738
Newton Venture Education Limited
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 December 2023
Newton Venture Education Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Newton Venture Education Limited
Company Limited by Guarantee
Officers and Professional Advisers
The board of directors
P F Burton
E D Kaye
M L Alemany Gil
J M Birkinshaw
S C Klein
Registered office
Phoenix Court
2 Brill Place
Somers Town
London
NW1 1DX
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Newton Venture Education Limited
Company Limited by Guarantee
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Newton Venture Education Limited
Year ended 31 December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Newton Venture Education Limited
Company Limited by Guarantee
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
1,066
2,090
Current assets
Debtors
7
53,880
6,899
Cash at bank and in hand
243,416
429,297
---------
---------
297,296
436,196
Creditors: amounts falling due within one year
8
22,239
81,157
---------
---------
Net current assets
275,057
355,039
---------
---------
Total assets less current liabilities
276,123
357,129
---------
---------
Capital and reserves
Profit and loss account
276,123
357,129
---------
---------
Members funds
276,123
357,129
---------
---------
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 comprehensive income has not been delivered.
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.
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 .
Newton Venture Education Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
E D Kaye
Director
Company registration number: 12899738
Newton Venture Education Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Phoenix Court, 2 Brill Place, Somers Town, London, NW1 1DX.
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 .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
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 .
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:
Office equipment
-
33% straight line
Grants
Grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Company limited by guarantee
In the event of the company being wound up, the maximum liability of each member is limited to £1 whilst they are members or within one year after they cease to be members of the company.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 3 ).
6. Tangible assets
Office equipment
£
Cost
At 1 January 2023 and 31 December 2023
3,072
-------
Depreciation
At 1 January 2023
982
Charge for the year
1,024
-------
At 31 December 2023
2,006
-------
Carrying amount
At 31 December 2023
1,066
-------
At 31 December 2022
2,090
-------
7. Debtors
2023
2022
£
£
Other debtors
53,880
6,899
--------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,256
1,351
Corporation tax
42,769
Social security and other taxes
12,137
36,017
Other creditors
5,846
1,020
--------
--------
22,239
81,157
--------
--------