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Registered number: 10750725
New Age Lettings Limited
Unaudited Financial Statements
For The Year Ended 31 May 2025
Main Office
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10750725
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 15,371 15,371
Tangible Assets 5 4,453 5,566
Investments 6 40,000 40,000
59,824 60,937
CURRENT ASSETS
Debtors 7 157,292 131,087
Cash at bank and in hand 4,945 6,775
162,237 137,862
Creditors: Amounts Falling Due Within One Year 8 (146,706 ) (155,970 )
NET CURRENT ASSETS (LIABILITIES) 15,531 (18,108 )
TOTAL ASSETS LESS CURRENT LIABILITIES 75,355 42,829
Creditors: Amounts Falling Due After More Than One Year 9 (63,696 ) (4,154 )
NET ASSETS 11,659 38,675
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 11,559 38,575
SHAREHOLDERS' FUNDS 11,659 38,675
Page 1
Page 2
For the year ending 31 May 2025 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Chinedu EVBUOMWAN
Director
02/06/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
New Age Lettings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10750725 . The registered office is 27 OLD GLOUCESTER STREET, LONDON, WC1N 3AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% straight line
Computer Equipment 20% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2024 15,371
As at 31 May 2025 15,371
Net Book Value
As at 31 May 2025 15,371
As at 1 June 2024 15,371
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Page 4
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2024 14,671 2,668 17,339
As at 31 May 2025 14,671 2,668 17,339
Depreciation
As at 1 June 2024 10,813 960 11,773
Provided during the period 772 341 1,113
As at 31 May 2025 11,585 1,301 12,886
Net Book Value
As at 31 May 2025 3,086 1,367 4,453
As at 1 June 2024 3,858 1,708 5,566
6. Investments
Listed
£
Cost
As at 1 June 2024 40,000
As at 31 May 2025 40,000
Provision
As at 1 June 2024 -
As at 31 May 2025 -
Net Book Value
As at 31 May 2025 40,000
As at 1 June 2024 40,000
7. Debtors
2025 2024
£ £
Due within one year
Other debtors 157,292 131,087
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - (2 )
Other creditors 146,706 155,972
146,706 155,970
Page 4
Page 5
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 63,696 4,154
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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