Company Registration No. 03929498 (England and Wales)
New Exhibitions Of Contemporary Art Limited
Unaudited accounts
for the year ended 28 February 2025
New Exhibitions Of Contemporary Art Limited
Unaudited accounts
Contents
New Exhibitions Of Contemporary Art Limited
Company Information
for the year ended 28 February 2025
Director
Mr Daniel Newburg
Company Number
03929498 (England and Wales)
Registered Office
Unit 6
30 Friern Park
London
N12 9DA
United Kingdom
New Exhibitions Of Contemporary Art Limited
Statement of financial position
as at 28 February 2025
Cash at bank and in hand
4,546
8,974
Creditors: amounts falling due within one year
(109,128)
(145,378)
Net current liabilities
(1,839)
(19,895)
Total assets less current liabilities
(1,568)
(19,353)
Creditors: amounts falling due after more than one year
(3,955)
(13,333)
Net liabilities
(5,523)
(32,686)
Called up share capital
1
1
Profit and loss account
(5,524)
(32,687)
Shareholders' funds
(5,523)
(32,686)
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 10 November 2025 and were signed on its behalf by
Mr Daniel Newburg
Director
Company Registration No. 03929498
New Exhibitions Of Contemporary Art Limited
Notes to the Accounts
for the year ended 28 February 2025
New Exhibitions Of Contemporary Art Limited is a private company, limited by shares, registered in England and Wales, registration number 03929498. The registered office is Unit 6, 30 Friern Park, London, N12 9DA, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Computer equipment
33% - Straight line
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. 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.
Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.
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.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
New Exhibitions Of Contemporary Art Limited
Notes to the Accounts
for the year ended 28 February 2025
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.
The company's financial statements are prepared on a going concern basis on the grounds that current and future sources of funding or support from the director will be continued to be received.
4
Tangible fixed assets
Computer equipment
At 28 February 2025
29,981
At 28 February 2025
29,710
Amounts falling due within one year
Other debtors
33,420
33,019
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
10,000
10,000
Trade creditors
8,601
10,618
Taxes and social security
-
1,031
Other creditors
25,025
30,892
Loans from directors
63,029
91,337
New Exhibitions Of Contemporary Art Limited
Notes to the Accounts
for the year ended 28 February 2025
7
Creditors: amounts falling due after more than one year
2025
2024
8
Average number of employees
During the year the average number of employees was 3 (2024: 3).