Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-31The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,284 (2022: £4,251). Contributions totaling £Nil (2022: £Nil) were payable to the fund at the reporting date. Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.2023-01-01false44truetrue 09035681 2023-01-01 2023-12-31 09035681 2022-01-01 2022-12-31 09035681 2023-12-31 09035681 2022-12-31 09035681 c:Director1 2023-01-01 2023-12-31 09035681 d:CurrentFinancialInstruments 2023-12-31 09035681 d:CurrentFinancialInstruments 2022-12-31 09035681 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09035681 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09035681 d:ShareCapital 2023-12-31 09035681 d:ShareCapital 2022-12-31 09035681 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09035681 d:RetainedEarningsAccumulatedLosses 2023-12-31 09035681 d:RetainedEarningsAccumulatedLosses 2022-12-31 09035681 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09035681 c:OrdinaryShareClass1 2023-12-31 09035681 c:OrdinaryShareClass1 2022-12-31 09035681 c:FRS102 2023-01-01 2023-12-31 09035681 c:Audited 2023-01-01 2023-12-31 09035681 c:FullAccounts 2023-01-01 2023-12-31 09035681 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09035681 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09035681 4 2023-01-01 2023-12-31 09035681 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure





09035681
31/12/2023














NEWCO EUROPE UK LTD
Registered number: 09035681
Financial statements
 
Information for filing with the Registrar

For the year ended 31 December 2023

 
 09035681
31 December 2023
NEWCO EUROPE UK LTD
REGISTERED NUMBER: 09035681

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
456,101
436,788

Debtors: amounts falling due within one year
 5 
1,041,209
1,070,742

Cash at bank and in hand
  
619,673
475,987

  
2,116,983
1,983,517

Creditors: amounts falling due within one year
 6 
(1,861,269)
(3,092,091)

Net current assets/(liabilities)
  
 
 
255,714
 
 
(1,108,574)

Total assets less current liabilities
  
255,714
(1,108,574)

  

Net assets/(liabilities)
  
255,714
(1,108,574)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
 8 
255,614
(1,108,674)

  
255,714
(1,108,574)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Louis A M Vernaus
Director

Date: 16 April 2025

The notes on pages 2 to 6 form part of these financial statements.

- 1 -

 
 09035681
31 December 2023
NEWCO EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Newco Europe UK Ltd (the company) is a private limited company, by shares, incorporated and domiciled in the United Kingdom. The address of its registered office is disclosed on the Company Information page of these financial statements. The registered number of the company is 09035681.
The principal activity of the company is that of non-specialised wholesale trade.
The financial statements are prepared in Sterling, which is considered to be the functional currency of the company, and are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The board of directors present its going concern statement for the financial year end 31 December 2023.
Newco Europe UK Ltd is a wholly owned subsidiary of Newco Europe B.V Group.
The directors of Newco Europe UK Ltd have obtained a letter of support from the ultimate parent company Edco Eindhoven BV, and are satisfied that this support will be forthcoming for the foreseeable future. The directors have assessed that the ultimate parent company is financially capable in providing this support.
The directors have no reason to believe that a material uncertainty exists that may cast significant doubt on the ability of this Company to continue as a going concern. Therefore the directors believe that it is appropriate to prepare the financial statements on a going concern basis.

- 2 -

 
 09035681
31 December 2023
NEWCO EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

- 3 -

 
 09035681
31 December 2023
NEWCO EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. 

  
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. 

  
2.13

Significant accounting judgements and estimates

The directors have assessed and concluded that there are no significant judgements or estimates made in preparing the financial statements.

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

- 4 -

 
 09035681
31 December 2023
NEWCO EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Exceptional income

2023
2022
£
£



Transfer Pricing adjustment
1,245,112
-

1,245,112
-

This relates to a change in the transfer pricing policy as a result of a benchmark review performed during the year.


5.


Debtors

2023
2022
£
£


Trade debtors
967,746
868,936

Amounts owed by group undertakings
-
63,996

Prepayments and accrued income
73,463
137,810

1,041,209
1,070,742


Amounts owed by group undertakings are repayable on demand, incur no interest and are not secured.


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
667,571
259,988

Amounts owed to group undertakings
708,545
2,434,049

Corporation tax
89,952
-

Other taxation and social security
175,283
221,095

Other creditors
19,489
11,129

Accruals and deferred income
200,429
165,830

1,861,269
3,092,091


Amounts owed to group undertakings are repayable on demand, incur no interest and are not secured.


7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



- 5 -

 
 09035681
31 December 2023
NEWCO EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.Share capital (continued)

100 (2022 - 100) Ordinary shares of £1.00 each
100
100



8.


Reserves

Profit & loss account

Profit and loss account consists of the accumulated profit/loss of the Company throughout its existence.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £5,284 (2022: £4,251). Contributions totaling £Nil (2022: £Nil) were payable to the fund at the reporting date. 


10.


Controlling party

The immediate parent company is Newco Europe BV, a company registered in The Netherlands. The ultimate parent company is Edco Eindhoven BV, a company registered in The Netherlands.


11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 17 April 2025 by Paul Kurowski (Senior Statutory Auditor) on behalf of Forvis Mazars LLP.

- 6 -