32 24 New Century Hall Ltd 13747581 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is operation of arts facilities. Digita Accounts Production Advanced 6.30.9574.0 true true false 13747581 2023-09-01 2024-08-31 13747581 2024-08-31 13747581 core:FinanceLeases core:CurrentFinancialInstruments 2024-08-31 13747581 core:FinanceLeases core:Non-currentFinancialInstruments 2024-08-31 13747581 core:CurrentFinancialInstruments 2024-08-31 13747581 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 13747581 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 13747581 core:FurnitureFittings 2024-08-31 13747581 core:LandBuildings core:ShortLeaseholdAssets 2024-08-31 13747581 core:OfficeEquipment 2024-08-31 13747581 core:PlantMachinery 2024-08-31 13747581 bus:SmallEntities 2023-09-01 2024-08-31 13747581 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 13747581 bus:FilletedAccounts 2023-09-01 2024-08-31 13747581 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 13747581 bus:RegisteredOffice 2023-09-01 2024-08-31 13747581 bus:Director3 2023-09-01 2024-08-31 13747581 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 13747581 core:ComputerEquipment 2023-09-01 2024-08-31 13747581 core:FurnitureFittings 2023-09-01 2024-08-31 13747581 core:LandBuildings 2023-09-01 2024-08-31 13747581 core:LandBuildings core:ShortLeaseholdAssets 2023-09-01 2024-08-31 13747581 core:OfficeEquipment 2023-09-01 2024-08-31 13747581 core:PlantMachinery 2023-09-01 2024-08-31 13747581 1 2023-09-01 2024-08-31 13747581 countries:England 2023-09-01 2024-08-31 13747581 2023-08-31 13747581 core:FurnitureFittings 2023-08-31 13747581 core:LandBuildings core:ShortLeaseholdAssets 2023-08-31 13747581 core:OfficeEquipment 2023-08-31 13747581 core:PlantMachinery 2023-08-31 13747581 2022-09-01 2023-08-31 13747581 2023-08-31 13747581 core:FinanceLeases core:CurrentFinancialInstruments 2023-08-31 13747581 core:FinanceLeases core:Non-currentFinancialInstruments 2023-08-31 13747581 core:CurrentFinancialInstruments 2023-08-31 13747581 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 13747581 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 13747581 core:FurnitureFittings 2023-08-31 13747581 core:LandBuildings core:ShortLeaseholdAssets 2023-08-31 13747581 core:OfficeEquipment 2023-08-31 13747581 core:PlantMachinery 2023-08-31 xbrli:pure iso4217:GBP

Registration number: 13747581

New Century Hall Ltd

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

New Century Hall Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 9

 

New Century Hall Ltd

(Registration number: 13747581)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

188,157

240,991

Current assets

 

Debtors

5

92,175

65,291

Cash at bank and in hand

 

38,469

8,790

 

130,644

74,081

Creditors: Amounts falling due within one year

6

(730,392)

(702,941)

Net current liabilities

 

(599,748)

(628,860)

Total assets less current liabilities

 

(411,591)

(387,869)

Creditors: Amounts falling due after more than one year

6

(22,831)

(101,606)

Net liabilities

 

(434,422)

(489,475)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(434,423)

(489,476)

Shareholders' deficit

 

(434,422)

(489,475)

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 24 June 2025 and signed on its behalf by:
 

.........................................
Miss A Moore
Director

   
     
 

New Century Hall Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
New Century
34 Hanover Street
Manchester
M4 4AH

These financial statements were authorised for issue by the Board on 24 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has a good working relationship with its creditors and received assurances from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

 

New Century Hall Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture

20% straight line on cost

Computer equipment

33.33% straight line on cost

AV equipment

33.33% straight line on cost

Leasehold improvements

Straight line over the remaining lease period

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

New Century Hall Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

New Century Hall Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2023 - 24).

 

New Century Hall Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 September 2023

568

116,893

146,176

41,901

305,538

Additions

-

7,430

9,011

814

17,255

At 31 August 2024

568

124,323

155,187

42,715

322,793

Depreciation

At 1 September 2023

7

36,357

14,493

13,690

64,547

Charge for the year

40

40,996

15,183

13,870

70,089

At 31 August 2024

47

77,353

29,676

27,560

134,636

Carrying amount

At 31 August 2024

521

46,970

125,511

15,155

188,157

At 31 August 2023

561

80,536

131,683

28,211

240,991

 

New Century Hall Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Debtors

2024
£

2023
£

Trade debtors

63,025

22,790

Prepayments

28,113

31,496

Other debtors

1,037

11,005

92,175

65,291

 

New Century Hall Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

79,406

83,460

Trade creditors

 

109,236

82,501

Amounts owed to group undertakings and undertakings in which the company has a participating interest

327,470

407,678

Taxation and social security

 

137,955

61,746

Accruals and deferred income

 

68,939

67,556

Other creditors

 

7,386

-

 

730,392

702,941

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

22,831

101,606

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Finance lease liabilities

22,831

101,606

Current loans and borrowings

2024
£

2023
£

Finance lease liabilities

79,406

83,460

Secured creditors

The finance lease agreements are secured on the assets to which they relate.

 

New Century Hall Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Parent and ultimate parent undertaking

The company's immediate parent is One Plus Four Ltd, incorporated in United Kingdom.

  These financial statements are available upon request from New Century, 34 Hanover Street, Manchester, M4 4AH.