Acorah Software Products - Accounts Production 16.1.300 false true true 30 November 2023 30 November 2022 false 1 December 2023 30 November 2024 30 November 2024 14515622 Mr G Li Mr C G Lorenzo Newsmile Technology Inc. iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14515622 2023-11-30 14515622 2024-11-30 14515622 2023-12-01 2024-11-30 14515622 frs-core:CurrentFinancialInstruments 2024-11-30 14515622 frs-core:FurnitureFittings 2023-12-01 2024-11-30 14515622 frs-core:ShareCapital 2024-11-30 14515622 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 14515622 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 14515622 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 14515622 frs-bus:SmallEntities 2023-12-01 2024-11-30 14515622 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 14515622 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 14515622 frs-bus:Director1 2023-12-01 2024-11-30 14515622 frs-bus:Director2 2023-12-01 2024-11-30 14515622 frs-bus:CompanySecretary1 2023-12-01 2024-11-30 14515622 frs-core:CurrentFinancialInstruments 2 2024-11-30 14515622 frs-countries:EnglandWales 2023-12-01 2024-11-30 14515622 2022-11-29 14515622 2023-11-30 14515622 2022-11-30 2023-11-30 14515622 frs-core:CurrentFinancialInstruments 2023-11-30 14515622 frs-core:ShareCapital 2023-11-30 14515622 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 14515622 frs-core:CurrentFinancialInstruments 2 2023-11-30
Registered number: 14515622
Newsmile Technology UK Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Strategic Partnership
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 14515622
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 12,979 48,081
Cash at bank and in hand 31,631 48,284
44,610 96,365
Creditors: Amounts Falling Due Within One Year 6 (162,710 ) (141,929 )
NET CURRENT ASSETS (LIABILITIES) (118,100 ) (45,564 )
TOTAL ASSETS LESS CURRENT LIABILITIES (118,100 ) (45,564 )
NET LIABILITIES (118,100 ) (45,564 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement (118,200 ) (45,664 )
SHAREHOLDERS' FUNDS (118,100) (45,564)
For the year ending 30 November 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr G Li
Director
29 January 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Newsmile Technology UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14515622 . The registered office is 128 City Road, London, EC1V 2NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are prepared in accordance with the FRS 102 Section 1 A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statemen rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The director has considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The director has also pledged their financial support to assist with this if required. On this basis, the director will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, ner of discounts, value added taxes and other sales taxes.
2.4. Tangible Fixed Assets and Depreciation
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
Fixtures & Fittings 15% Reducing balance method
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares.
2.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.9. Critical Accounting Judgements And Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates,
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the year end.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 4)
3 4
4. Stocks
2024 2023
£ £
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 47,936
Prepayments and accrued income - 145
Return provision 12,979 -
12,979 48,081
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 55,777
Other loans 62,464 -
Other taxes and social security 575 -
VAT 15,590 -
Pension 181 -
Accruals and deferred income 39,814 83,677
Directors' loan accounts 2,350 900
Amounts owed to parent undertaking 41,736 1,575
162,710 141,929
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
The nominal value per share is £1 and there are 100 Ordinary Shares in issue
8. Related Party Transactions
The Director's loan account balance of Mr G Li of £2,350 as at the year end, is a current liability, interest free and repayable on demand.
The amount owed to Newsmile Technology Inc., the company's sole parent, totalled £41,736 as at the year end, which is a current liability, interest free and repayable on demand.
Page 3