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COMPANY REGISTRATION NUMBER: 11051237
NEW INCLUSIVE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
NEW INCLUSIVE LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
Contents
Page
Balance sheet 1
Notes to the financial statements 2
NEW INCLUSIVE LIMITED
BALANCE SHEET
30 June 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
4,026,714
4,026,714
Creditors: amounts falling due within one year
5
2,371,027
3,571,027
------------
------------
Net current liabilities
2,371,027
3,571,027
------------
------------
Total assets less current liabilities
1,655,687
455,687
------------
------------
Capital and reserves
Called up share capital
6
314
314
Share premium account
454,594
454,594
Profit and loss account
1,200,779
779
------------
------------
Shareholders funds
1,655,687
455,687
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 March 2025 , and are signed on behalf of the board by:
S S Gill
P A Stephenson
Director
Director
Company registration number: 11051237
NEW INCLUSIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. General information
The company is a private company limited by shares, registered in England and Wales, registration number 11051237 . The address of the registered office is Riverside Court, Huddersfield Road, Delph, Oldham, OL3 5FZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Investments
Shares in group undertakings
£
Cost
At 1 July 2023 and 30 June 2024
4,026,714
------------
Impairment
At 1 July 2023 and 30 June 2024
------------
Carrying amount
At 30 June 2024
4,026,714
------------
At 30 June 2023
4,026,714
------------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
2,371,027
3,570,410
Other loans (secured on group assets)
617
------------
------------
2,371,027
3,571,027
------------
------------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 0.01 each
31,350
314
31,350
314
------------
------------
------------
------------
7. Related party transactions
The loans owed to group undertakings at note 6 above are unsecured, repayable on demand and currently interest-free .
8. Controlling party
The company's ultimate controlling party is S S Gill .
9. Guarantees
The company is party to an unlimited corporate guarantee together with other group companies in support of the group's bank facilities. The company has also provided a debenture over all of its assets in this respect.