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REGISTERED NUMBER: 03907207 (England and Wales)















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: Mr R W Price
Mrs D Price





REGISTERED OFFICE: Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL





REGISTERED NUMBER: 03907207 (England and Wales)





ACCOUNTANTS: Swindells LLP
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 4 167 334
Investments 5 100 100
267 434

CURRENT ASSETS
Debtors 6 2,063,308 1,815,024
Cash at bank 9,645 5,213
2,072,953 1,820,237
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

97,745

67,332
NET CURRENT ASSETS 1,975,208 1,752,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,975,475

1,753,339

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(7,907

)

(18,218

)

PROVISIONS FOR LIABILITIES (42 ) (84 )
NET ASSETS 1,967,526 1,735,037

New Century Finance Limited (Registered number: 03907207)

Balance Sheet - continued
31 August 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 25,000 25,000
Retained earnings 1,942,526 1,710,037
SHAREHOLDERS' FUNDS 1,967,526 1,735,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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 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, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:





Mr R W Price - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

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 2 (2023 - 2 ) .

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 10,798
DEPRECIATION
At 1 September 2023 10,464
Charge for year 167
At 31 August 2024 10,631
NET BOOK VALUE
At 31 August 2024 167
At 31 August 2023 334

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 September 2023
and 31 August 2024 100
NET BOOK VALUE
At 31 August 2024 100
At 31 August 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 1,228,910 1,227,967
Other debtors 834,398 587,057
2,063,308 1,815,024

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 10,311 10,056
Tax 81,072 30,025
Other creditors 1,526 1,075
Directors' current accounts - 21,574
Accruals and deferred income 4,836 4,602
97,745 67,332

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 7,907 10,311
Bank loans - 2-5 years - 7,907
7,907 18,218

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
25,000 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.