11 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 272,517 200,000 10,300 82,817 82,817 272,517 xbrli:pure xbrli:shares iso4217:GBP 07112929 2024-01-01 2024-12-31 07112929 2024-12-31 07112929 2023-12-31 07112929 2023-01-01 2023-12-31 07112929 2023-12-31 07112929 2022-12-31 07112929 core:MotorVehicles 2024-01-01 2024-12-31 07112929 bus:Director4 2024-01-01 2024-12-31 07112929 bus:Director1 2024-01-01 2024-12-31 07112929 bus:Director2 2024-01-01 2024-12-31 07112929 bus:Director3 2024-01-01 2024-12-31 07112929 core:PlantMachinery 2023-12-31 07112929 core:MotorVehicles 2023-12-31 07112929 core:PlantMachinery 2024-12-31 07112929 core:PlantMachinery 2024-01-01 2024-12-31 07112929 core:WithinOneYear 2024-12-31 07112929 core:WithinOneYear 2023-12-31 07112929 core:ShareCapital 2024-12-31 07112929 core:ShareCapital 2023-12-31 07112929 core:RetainedEarningsAccumulatedLosses 2024-12-31 07112929 core:RetainedEarningsAccumulatedLosses 2023-12-31 07112929 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 07112929 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-12-31 07112929 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-12-31 07112929 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 07112929 core:Non-currentFinancialInstruments 2024-12-31 07112929 core:Non-currentFinancialInstruments 2023-12-31 07112929 core:AfterOneYear 2024-12-31 07112929 core:AfterOneYear 2023-12-31 07112929 core:PlantMachinery 2023-12-31 07112929 bus:Director1 2022-12-31 07112929 bus:Director2 2022-12-31 07112929 bus:Director3 2022-12-31 07112929 bus:Director4 2022-12-31 07112929 bus:Director1 2023-01-01 2023-12-31 07112929 bus:Director2 2023-01-01 2023-12-31 07112929 bus:Director3 2023-01-01 2023-12-31 07112929 bus:Director4 2023-01-01 2023-12-31 07112929 bus:SmallEntities 2024-01-01 2024-12-31 07112929 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07112929 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07112929 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07112929 bus:FullAccounts 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 07112929
New Gen (UK) Limited
Filleted Unaudited Financial Statements
31 December 2024
New Gen (UK) Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
New Gen (UK) Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
8,476
11,102
Investments
6
82,817
272,517
--------
---------
91,293
283,619
Current assets
Debtors
7
1,242,077
893,915
Cash at bank and in hand
62,477
30,045
------------
---------
1,304,554
923,960
Creditors: amounts falling due within one year
8
273,844
231,617
------------
---------
Net current assets
1,030,710
692,343
------------
---------
Total assets less current liabilities
1,122,003
975,962
Provisions
Taxation including deferred tax
2,113
2,575
------------
---------
Net assets
1,119,890
973,387
------------
---------
New Gen (UK) Limited
Statement of Financial Position (continued)
31 December 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
400
400
Profit and loss account
1,119,490
972,987
------------
---------
Shareholders funds
1,119,890
973,387
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 July 2025 , and are signed on behalf of the board by:
R A Stevens
Director
Company registration number: 07112929
New Gen (UK) Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Box Bush Cottage, Wickridge Street, Ashleworth, Gloucester, GL19 4JW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20%, 25% and 33% straight line
Motor Vehicles
-
25% straight line
Office Furniture & Equipment
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 11 ).
5. Tangible assets
Plant and machinery
Motor Vehicles
Office Furniture & Equipment
Total
£
£
£
£
Cost
At 1 January 2024
10,500
13,337
10,181
34,018
Additions
2,125
2,125
Disposals
( 13,337)
( 4,862)
( 18,199)
--------
--------
--------
--------
At 31 December 2024
10,500
7,444
17,944
--------
--------
--------
--------
Depreciation
At 1 January 2024
3,069
13,337
6,510
22,916
Charge for the year
2,625
1,531
4,156
Disposals
( 13,337)
( 4,267)
( 17,604)
--------
--------
--------
--------
At 31 December 2024
5,694
3,774
9,468
--------
--------
--------
--------
Carrying amount
At 31 December 2024
4,806
3,670
8,476
--------
--------
--------
--------
At 31 December 2023
7,431
3,671
11,102
--------
--------
--------
--------
6. Investments
Other investments other than loans
£
Cost or valuation
At 1 January 2024
272,517
Disposals
( 200,000)
Revaluations
10,300
---------
At 31 December 2024
82,817
---------
Impairment
At 1 January 2024 and 31 December 2024
---------
Carrying amount
At 31 December 2024
82,817
---------
At 31 December 2023
272,517
---------
7. Debtors
2024
2023
£
£
Trade debtors
131,085
144,674
Other debtors
1,110,992
749,241
------------
---------
1,242,077
893,915
------------
---------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Other debtors
1,075,180
711,777
------------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
25,325
26,724
Social security and other taxes
73,125
60,006
Other creditors
175,394
144,887
---------
---------
273,844
231,617
---------
---------
9. Other financial commitments
At the reporting date the company had commitments for future minimum lease payments under non-cancellable operating leases of £29,709 (2023 - £41,393).
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
A J Stevens
C M Stevens
D I Stevens
R A Stevens
----
----
----
----
----
----
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
A J Stevens
14,000
( 14,000)
C M Stevens
14,000
( 14,000)
D I Stevens
21,700
( 21,700)
R A Stevens
21,700
( 21,700)
--------
--------
----
71,400
( 71,400)
--------
--------
----
No interest has been charged on the advances to the directors.