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Company Registration No. 06509594 (England and Wales)
New Beginnings (wisbech) Ltd Unaudited accounts for the year ended 28 February 2025
New Beginnings (wisbech) Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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New Beginnings (wisbech) Ltd Company Information for the year ended 28 February 2025
Director
Shoaib Arshid
Company Number
06509594 (England and Wales)
Registered Office
Index House St. Georges Lane Ascot Berkshire SL5 7ET England
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New Beginnings (wisbech) Ltd Statement of financial position as at 28 February 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
21,526
43,052
Current assets
Debtors
5
73,973
49,876
Cash at bank and in hand
4,650
9,927
78,623
59,803
Creditors: amounts falling due within one year
6
(182,443)
(6,001)
Net current (liabilities)/assets
(103,820)
53,802
Total assets less current liabilities
(82,294)
96,854
Creditors: amounts falling due after more than one year
7
(99,025)
(170,425)
Net liabilities
(181,319)
(73,571)
Capital and reserves
Called up share capital
100
100
Profit and loss account
(181,419)
(73,671)
Shareholders' funds
(181,319)
(73,571)
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 February 2026 and were signed on its behalf by
Shoaib Arshid Director Company Registration No. 06509594
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New Beginnings (wisbech) Ltd Notes to the Accounts for the year ended 28 February 2025
1
Statutory information
New Beginnings (wisbech) Ltd is a private company, limited by shares, registered in England and Wales, registration number 06509594. The registered office is Index House, St. Georges Lane, Ascot, Berkshire, SL5 7ET, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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New Beginnings (wisbech) Ltd Notes to the Accounts for the year ended 28 February 2025
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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New Beginnings (wisbech) Ltd Notes to the Accounts for the year ended 28 February 2025
4
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 March 2024
64,578
At 28 February 2025
64,578
Depreciation
At 1 March 2024
21,526
Charge for the year
21,526
At 28 February 2025
43,052
Net book value
At 28 February 2025
21,526
At 29 February 2024
43,052
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
49,366
49,876
Other debtors
24,607
-
73,973
49,876
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
(4,887)
Trade creditors
551
551
Amounts owed to group undertakings and other participating interests
146,944
-
Taxes and social security
34,948
34,948
Other creditors
-
(24,611)
182,443
6,001
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
99,025
170,425
8
Average number of employees
During the year the average number of employees was 13 (2024: 13).
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