Company registration number 12644859 (England and Wales)
NTL ASSETS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
NTL ASSETS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
NTL ASSETS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Investments
3
1,300
1,300
Current assets
Trade and other receivables
449,995
339,432
Cash and cash equivalents
421
37,154
450,416
376,586
Current liabilities
(50,560)
(615)
Net current assets
399,856
375,971
Total assets less current liabilities
401,156
377,271
Non-current liabilities
(453,000)
(400,000)
Net liabilities
(51,844)
(22,729)
Equity
Called up share capital
1
1
Share premium account
999
999
Retained earnings
(52,844)
(23,729)
Total equity
(51,844)
(22,729)
NTL ASSETS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -

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

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.

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.

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

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 31 January 2025
Mr A Saraff
Director
Company registration number 12644859 (England and Wales)
NTL ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

NTL Assets Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Navigation Business Village, Navigation Way, Ashton-On-Ribble, Preston, Lancashire, United Kingdom, PR2 2YP.

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.

1.2
Going concern

The director considers the use of going concern basis of accounting is appropriate since the director has given his assurance that he will continue to support trueNTL Assets Limited for 12 months following the approval of these financial statement. There are therefore, no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue trading.

1.3
Revenue

Turnover represents the value of interest received on fixed asset investments in subsidiaries.

1.4
Non-current 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.

1.5
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.

NTL ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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 statement of financial position 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 trade and other receivables 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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
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.

2
Employees

There were no employees in the current or prior years. The director did not receive any remuneration or pension benefit in the year. Only one director served during the period.

2024
2023
Number
Number
Total
1
1
NTL ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1,300
1,300

The above investments relate to 500 £1 ordinary shares in Novyy Core I-Pack Limited, 100 £1 Ordinary shares in NTL 2 Cstreet CV1 Ltd and 100 £1 Ordinary shares in NTL 49 Sroad CV1 Limited, 100 £1 Ordinary shares in NTL 23 Krstreet CV2 ltd, 100 £1 Ordinary shares in NTL 70 Cstreet CV1 Ltd, 100 £1 Ordinary shares in NTL 71 Cstreet CV1 Ltd, 100 £1 Ordinary shares in NTL 72 Cstreet CV1 Ltd, 100 £1 Ordinary shares in NTL 73 Cstreet CV1 Ltd and100 £1 Ordinary shares in NTL 74 Cstreet CV1 Ltd.

4
Related party transactions
Balances with related parties

At the end of the year, Chawala Estates Limited, a related party by virtue of common control, owed NTL Assets Limited £184,067 (2023: £Nil).

 

At the end of the year, Novyy Technologies Limited, a related party by virtue of common control, owed NTL Assets Limited £46,240 (2023: £138,832).

 

At the end of the year, NTL 2 Cstreet CV1 Ltd, a subsidiary of NTL Assets Limited, owed NTL Assets limited, a loan balance of £Nil (2023: £2,500).

 

At the end of the year, NTL 23 Kstreet CV2 Ltd, a subsidiary of NTL Assets Limited, owed NTL Assets limited, a loan balance of £Nil (2023: £150,600).

 

All the below loans are unsecured, interest fee and repayable on demand.

Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Chawala Estates Limited
184,067
-
0
-
0
-
0
Novyy Technologies Limited
46,240
138,832
-
0
-
0
NTL 2 Cstreet CV1 Ltd
-
0
2,500
-
0
-
0
NTL 23 Kstreet CV2 Ltd
-
0
150,600
-
0
-
0
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