| REGISTERED NUMBER: |
| New Century Finance Limited |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| REGISTERED NUMBER: |
| New Century Finance Limited |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| New Century Finance Limited (Registered number: 03907207) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| New Century Finance Limited |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Atlantic House |
| 8 Bell Lane |
| Bellbrook Industrial Estate |
| Uckfield |
| East Sussex |
| TN22 1QL |
| New Century Finance Limited (Registered number: 03907207) |
| Balance Sheet |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| New Century Finance Limited (Registered number: 03907207) |
| Balance Sheet - continued |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| New Century Finance Limited (Registered number: 03907207) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| New Century Finance Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "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 as modified by the fair value of certain assets. |
| Turnover |
| Turnover represents revenue, net of VAT, from commercial transactions under which the company supplies customers the goods and services that it is in business to provide and it is recognised when it obtains, through performance under contract, the right to consideration for those goods and services. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| New Century Finance Limited (Registered number: 03907207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertaking |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| New Century Finance Limited (Registered number: 03907207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Tax |
| Other creditors |
| Directors' current accounts | - | 21,574 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | 1.00 | 25,000 | 25,000 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year the company made advances to the directors totalling £266,057 (2023- £143,972) and received repayments totalling £7,725 (2023 - £165,545). At the balance sheet date the directors owed the company £236,758 (2023 - £21,574). Interest is charged on overdrawn loans at 2.25% totalling £2,834 (2023 - £833). This loan is repayable on demand. |
| 11. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the amount due to the company from a loan to a relative of the director is £194,338 (2023 - £197,036). Interest is charged on the loan at 2.25% totalling £4,343 (2023 - £4,806). This loan is unsecured and repayable on demand. |