Company Registration No. 09680106 (England and Wales)
NUEVA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
NUEVA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
NUEVA LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
11,328
10,491
Investments
4
419
492
11,747
10,983
Current assets
Debtors
5
20,087,579
19,891,558
Cash at bank and in hand
2,877
15,501
20,090,456
19,907,059
Creditors: amounts falling due within one year
6
(17,578,673)
(19,068,850)
Net current assets
2,511,783
838,209
Total assets less current liabilities
2,523,530
849,192
Creditors: amounts falling due after more than one year
7
(3,430,478)
(1,450,017)
Net liabilities
(906,948)
(600,825)
Capital and reserves
Called up share capital
1
1
Equity reserve
80,627
117,350
Profit and loss reserves
(987,576)
(718,176)
Total equity
(906,948)
(600,825)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

NUEVA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 21 January 2025
G Ziser
Director
Company Registration No. 09680106
NUEVA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Nueva Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, 9 Hampstead West, 224 Iverson Road, London, NW6 2HL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

At the year end the company had a net liability position of £true906,948. Included within this amount is a loan from its sole shareholder of £4,472,623. The shareholder has confirmed that he will continue to financially support the company and will not demand repayment of this loan if it is prejudicial to the continued solvency of the company.

 

Consequently, at the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Trade mark
15 years straight line
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

NUEVA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

NUEVA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9

Equity Reserve

The equity reserve comprises the discounted element of long term loans which bear no interest and is released over the length of the loan to account for its net present value.

2
Employees

There were no employees during current or comparative year.

3
Intangible fixed assets
Trade mark
£
Cost
At 1 April 2023
10,491
Additions
2,395
At 31 March 2024
12,886
Amortisation and impairment
At 1 April 2023
-
0
Amortisation charged for the year
1,558
At 31 March 2024
1,558
Carrying amount
At 31 March 2024
11,328
At 31 March 2023
10,491
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
419
492
NUEVA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in group undertakings and participating interests
£
Cost
At 1 April 2023
492
Additions
2
Disposals
(75)
At 31 March 2024
419
Carrying amount
At 31 March 2024
419
At 31 March 2023
492
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
17,846,510
14,425,512
Other debtors
2,041,069
5,266,046
19,887,579
19,691,558
2024
2023
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
200,000
200,000
Total debtors
20,087,579
19,891,558
NUEVA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other borrowings
2,085,405
6,853,337
Trade creditors
7,354
22,532
Amounts owed to group undertakings
260,994
-
0
Other creditors
10,747,971
7,588,293
Shareholders  loan account
4,472,623
4,602,188
Accruals and deferred income
4,326
2,500
17,578,673
19,068,850

 

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other borrowings
3,430,478
1,450,017
8
Related party transactions

Included within debtors are unsecured loans totalling £2,041,069 (2023: £5,266,046) due from connected companies.

 

Also included within debtors are unsecured loans totalling £17,846 ,510 (2023: £14,425,512) due from group companies.

 

Included within creditors due within one year are unsecured loans totalling £10,575,311 (2023: £7,588,293) due to connected companies and £1,335,117 (2023: £1,335,117) due to a related company by virtue of the shareholder being a family member of the director of Nueva Limited.

 

Also included within creditors due within one year are unsecured loans totalling £260,994 (2023: £Nil) due to group companies.

 

Included in other creditors is an amount due to a family member of the director totalling £718,488 (2023: £1,227,262). This is repayable on demand and does not bear interest.

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