NEWLORDS INTERNATIONAL (UK) LTD Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01987012

NEWLORDS INTERNATIONAL (UK) LTD

Filleted Unaudited Financial Statements

31 December 2024

NEWLORDS INTERNATIONAL (UK) LTD

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		7,101	5,550

Current assets

Debtors	7	306,513	300,090
Cash at bank and in hand		22,123	18,765
		---------	---------
		328,636	318,855

Creditors: amounts falling due within one year	8	302,192		77,613
		---------		---------
Net current assets			26,444	241,242
			--------	---------
Total assets less current liabilities			33,545	246,792

Provisions

Taxation including deferred tax	1,314	1,010
	--------	---------
Net assets	32,231	245,782
	--------	---------

Capital and reserves

Called up share capital	100,000	100,000
Profit and loss account	( 67,769)	145,782
	---------	---------
Shareholders funds	32,231	245,782
	---------	---------

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

NEWLORDS INTERNATIONAL (UK) LTD

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mr. A. Meshiea
Director

Company registration number: 01987012

NEWLORDS INTERNATIONAL (UK) 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 Unit 6 Cambridge Court, Shepherds Bush Road, Hammersmith, London, W6 7NJ.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced by the company in respect of international commodity trading and software consultancy, excluding value added tax.

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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Fixtures & Fittings	-	25% reducing balance
Equipments	-	15 % reducing balance

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).

5. Tax on loss

Major components of tax expense

	2024	2023
	£	£

Current tax:

Interest on tax	–	460

Deferred tax:

Origination and reversal of timing differences	304	( 291)
	----	----
Tax on loss	304	169
	----	----

Reconciliation of tax expense

The tax assessed on the loss on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 23.50 %).

	2024	2023
	£	£
Loss on ordinary activities before taxation	( 213,247)	( 11,789)
	---------	--------
Other tax adjustment-Deferred tax on FA timing difference	304	169
	---------	--------

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2024	28,899	27,394	56,293
Additions	–	3,257	3,257
	--------	--------	--------
At 31 December 2024	28,899	30,651	59,550
	--------	--------	--------
Depreciation
At 1 January 2024	25,043	25,700	50,743
Charge for the year	964	742	1,706
	--------	--------	--------
At 31 December 2024	26,007	26,442	52,449
	--------	--------	--------
Carrying amount
At 31 December 2024	2,892	4,209	7,101
	--------	--------	--------
At 31 December 2023	3,856	1,694	5,550
	--------	--------	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	303,480	299,544
Other debtors	3,033	546
	---------	---------
	306,513	300,090
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Social security and other taxes	6,367	6,649
Other creditors	295,825	70,964
	---------	--------
	302,192	77,613
	---------	--------

Other creditors include an amount of £283,575 (2023: £57,074) owed to a company in which Mr A Meshiea is a director. The loan is unsecured, interest-free and repayable on demand. Director's loan of £1,286 (2023: £1,286) is also included in other creditors.

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	1,314	1,010
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	1,314	1,010
	-------	-------