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Company Registration No. 10310216 (England and Wales)
Newgen Investments Limited Unaudited accounts for the year ended 31 March 2024
Newgen Investments Limited Unaudited accounts Contents
Page
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Newgen Investments Limited Company Information for the year ended 31 March 2024
Director
Bavandeep Phagura
Secretary
Barinder Phagura
Company Number
10310216 (England and Wales)
Registered Office
4 Cairns Close Leicester LE3 2TG UNITED KINGDOM
Accountants
Advanced Tax Solutions Ltd t/a Tax Made Easy Unit 24, King Street Buildings Enderby Leicester Leicestershire LE19 4NT
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Newgen Investments Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
91,703 
91,703 
Investments
100 
100 
91,803 
91,803 
Current assets
Debtors
379 
362 
Cash at bank and in hand
1,474 
17,559 
1,853 
17,921 
Creditors: amounts falling due within one year
(79,548)
(99,213)
Net current liabilities
(77,695)
(81,292)
Net assets
14,108 
10,511 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
13,108 
9,511 
Shareholders' funds
14,108 
10,511 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 July 2024 and were signed on its behalf by
Bavandeep Phagura Director Company Registration No. 10310216
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Newgen Investments Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Newgen Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 10310216. The registered office is 4 Cairns Close, Leicester, LE3 2TG, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus they continue to adopt the going concern basis in the preparation of the financial statements.
Investments
Investments in shares are included at fair value.
4
Investment property
2024 
£ 
Fair value at 1 April 2023
91,703 
At 31 March 2024
91,703 
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Newgen Investments Limited Notes to the Accounts for the year ended 31 March 2024
5
Investments
Other investments 
£ 
Valuation at 1 April 2023
100 
Valuation at 31 March 2024
100 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
379 
362 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
8 
Taxes and social security
816 
803 
Loans from directors
77,982 
97,652 
Accruals
750 
750 
79,548 
99,213 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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