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Company Registration No. 3516971 (England and Wales)
Newcourt Corporation Ltd Unaudited accounts for the year ended 29 February 2024
Newcourt Corporation Ltd Unaudited accounts Contents
Page
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Newcourt Corporation Ltd Company Information for the year ended 29 February 2024
Director
Abraham Uhr
Secretary
Jaime Friedman
Company Number
3516971 (England and Wales)
Registered Office
13 Rookwood Road London N16 6SP
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Newcourt Corporation Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,383 
6,126 
Investment property
1,350,000 
1,230,000 
Investments
50,200 
50,200 
1,405,583 
1,286,326 
Current assets
Debtors
923,816 
726,342 
Cash at bank and in hand
60,218 
22,579 
984,034 
748,921 
Creditors: amounts falling due within one year
(396,172)
(196,420)
Net current assets
587,862 
552,501 
Total assets less current liabilities
1,993,445 
1,838,827 
Creditors: amounts falling due after more than one year
(789,638)
(802,600)
Provisions for liabilities
Deferred tax
(195,393)
(82,574)
Net assets
1,008,414 
953,653 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
1,008,412 
953,651 
Shareholders' funds
1,008,414 
953,653 
For the year ending 29 February 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 25 November 2024 and were signed on its behalf by
Abraham Uhr Director Company Registration No. 3516971
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Newcourt Corporation Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Newcourt Corporation Ltd is a private company, limited by shares, registered in England and Wales, registration number 3516971. The registered office is 13 Rookwood Road, London, N16 6SP.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance basis.
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.
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 or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Newcourt Corporation Ltd Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 March 2023
17,867 
Additions
602 
At 29 February 2024
18,469 
Depreciation
At 1 March 2023
11,741 
Charge for the year
1,345 
At 29 February 2024
13,086 
Net book value
At 29 February 2024
5,383 
At 28 February 2023
6,126 
5
Transactions with related parties
Included within debtors are amounts aggregating to £816,957 (2023: £633,887) due from companies in common control. Included within creditors are amounts aggregating to £78,700 (2023: £16,600) due to companies in common control.
6
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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