Registered number
05087504
New London UK Limited
Filleted Accounts for the year ended
31 March 2024
New London UK Limited
Registered number: 05087504
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,118 3,978
Current assets
Debtors 4 53,261 46,109
Cash at bank and in hand 3,635 5,764
56,896 51,873
Creditors: amounts falling due within one year 5 (37,143) (21,378)
Net current assets 19,753 30,495
Total assets less current liabilities 22,871 34,473
Creditors: amounts falling due after more than one year 6 (11,139) (20,663)
Net assets 11,732 13,810
Capital and reserves
Called up share capital 2 2
Profit and loss account 11,730 13,808
Shareholder's funds 11,732 13,810
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Torgeman
Director
Approved by the board on 28 January 2025
New London UK Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 9,573
At 31 March 2024 9,573
Depreciation
At 1 April 2023 5,595
Charge for the year 860
At 31 March 2024 6,455
Net book value
At 31 March 2024 3,118
At 31 March 2023 3,978
4 Debtors 2024 2023
£ £
Trade debtors 1,744 245
Rent deposit 8,625 8,625
Other taxes and social security costs 1,382 -
Other debtors 41,510 37,239
53,261 46,109
Amounts due after more than one year included above 8,625 8,625
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,379 11,875
Trade creditors 23,039 818
Taxation and social security costs 1,456 5,210
Other creditors 1,269 3,475
37,143 21,378
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,139 20,663
7 Controlling party
The controlling party is the director S Torgeman who holds 100% of the issued share capital of the company.
8 Other information
New London UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
24 Ormonde Terrace
London
NW8 7LR
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