Company registration number 02918767 (England and Wales)
NEWCOM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
Tavistock House South
Tavistock Square
Rayner Essex LLP
London
Chartered Accountants
WC1H 9LG
NEWCOM LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
NEWCOM LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 24 DECEMBER 2024
24 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
2
3
Current assets
-
-
Creditors: amounts falling due within one year
4
(912)
(912)
Net current liabilities
(912)
(912)
Net liabilities
(910)
(909)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(912)
(911)
Total equity
(910)
(909)

For the financial year ended 24 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 10 September 2025
Mr L Faust
Director
Company registration number 02918767 (England and Wales)
NEWCOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Newcom Limited is a private company limited by shares incorporated in England and Wales. The registered office is Tavistock House South, Tavistock Square, London, WC1H 9LG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

It is the intention of the director to liquidate the company in the near future and, as a result, the going concern basis is no longer considered appropriate.true Prior to liquidation, the director will arrange for the company’s assets to be transferred to a fellow subsidiary undertaking.

For the above reason, the director and member have determined that the going concern basis is no longer appropriate, and the financial statements have been prepared on a basis other than going concern in order to give a true and fair view of the assets, liabilities, financial position and the results of the company for the year ended 24 December 2024. This basis includes writing the company’s assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed to at the statement of financial position date.

1.3
Fixed asset investments

Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the Income statement.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

NEWCOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
3
Fixed asset investments
2024
2023
£
£
Investments in subsidiaries
2
3
NEWCOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 DECEMBER 2024
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 25 December 2023
3
Disposals
(1)
At 24 December 2024
2
Carrying amount
At 24 December 2024
2
At 24 December 2023
3
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
912
912
5
Subsidiaries

Details of the company's subsidiaries at 24 December 2024 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Anston Investments Limited
England
Property dealing and investment
Ordinary
100
-
Eagil Trust Co Limited
England
Non-trading
Ordinary/Preference
100
-
Maribella Limited
England
Non-trading
Ordinary
0
100
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
7
Parent company

The company's ultimate parent undertaking is Clydpride Limited, a charity company incorporated and registered in England and Wales. Its registered office is Tavistock House South, Tavistock Square, London, WC1H 9LG.

Newcom Limited's results have been included in Clydpride Limited's consolidated accounts.

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