The New European Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13096229

The New European Ltd

Filleted Unaudited Financial Statements

31 December 2024

The New European Ltd

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

The New European Ltd

Officers and Professional Advisers

The board of directors	J L Henry
	M J Kelly
	K E Mogull
	G K O'Reilly
	E J Williams

Registered office	727-729 High Road
	London
	N12 0BP

Accountants	Complete Accounting Solutions
	Chartered Certified Accountants
	727-729 High Road
	London
	N12 0BP

The New European Ltd

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of The New European Ltd

Year ended 31 December 2024

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Complete Accounting Solutions Chartered Certified Accountants

727-729 High Road London N12 0BP

The New European Ltd

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	5	271,635	315,688
Tangible assets	6	6,885	6,114
		---------	---------
		278,520	321,802

Current assets

Debtors	7	196,822	175,708
Cash at bank and in hand		825,957	903,937
		------------	------------
		1,022,779	1,079,645

Creditors: amounts falling due within one year	8	767,598	790,984
		------------	------------
Net current assets		255,181	288,661
		---------	---------
Total assets less current liabilities		533,701	610,463
		---------	---------
Net assets		533,701	610,463
		---------	---------

Capital and reserves

Called up share capital	2,053	2,053
Share premium account	2,070,120	2,070,120
Profit and loss account	( 1,538,472)	( 1,461,710)
	------------	------------
Shareholders funds	533,701	610,463
	------------	------------

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 comprehensive income 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 .

The New European Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 5 September 2025 , and are signed on behalf of the board by:

G K O'Reilly

Director

Company registration number: 13096229

The New European Ltd

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 727-729 High Road, London, N12 0BP.

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 goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

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 .

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses .

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Intellectual property and goodwill	-	10% reducing balance
Software development	-	10% reducing balance

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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 or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	25% straight line

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. Intangible assets

	Intellectual property and goodwill	Software development	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	370,000	70,532	440,532
	---------	--------	---------
Amortisation
At 1 January 2024	111,000	13,844	124,844
Charge for the year	37,000	7,053	44,053
	---------	--------	---------
At 31 December 2024	148,000	20,897	168,897
	---------	--------	---------
Carrying amount
At 31 December 2024	222,000	49,635	271,635
	---------	--------	---------
At 31 December 2023	259,000	56,688	315,688
	---------	--------	---------

6. Tangible assets

	Equipment
	£
Cost
At 1 January 2024	13,933
Additions	4,953
	--------
At 31 December 2024	18,886
	--------
Depreciation
At 1 January 2024	7,819
Charge for the year	4,182
	--------
At 31 December 2024	12,001
	--------
Carrying amount
At 31 December 2024	6,885
	--------
At 31 December 2023	6,114
	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	89,346	102,030
Other debtors	107,476	73,678
	---------	---------
	196,822	175,708
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	96,165	51,031
Social security and other taxes	31,720	38,029
Other creditors	639,713	701,924
	---------	---------
	767,598	790,984
	---------	---------

9. Controlling party

In the opinion of the directors, there is no one controlling party of the company.