false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2017-08-01
Sage Accounts Production Advanced 2018 - FRS
14,371
33,473
47,844
6,478
4,273
10,751
37,093
7,893
xbrli:pure
xbrli:shares
iso4217:GBP
08491313
2017-08-01
2018-07-31
08491313
2018-07-31
08491313
2017-07-31
08491313
2016-08-01
2017-07-31
08491313
2017-07-31
08491313
bus:RegisteredOffice
2017-08-01
2018-07-31
08491313
bus:OrdinaryShareClass1
2017-08-01
2018-07-31
08491313
bus:LeadAgentIfApplicable
2017-08-01
2018-07-31
08491313
bus:Director1
2017-08-01
2018-07-31
08491313
bus:Director2
2017-08-01
2018-07-31
08491313
bus:Director3
2017-08-01
2018-07-31
08491313
bus:Director4
2017-08-01
2018-07-31
08491313
core:WithinOneYear
2018-07-31
08491313
core:WithinOneYear
2017-07-31
08491313
core:RestatedAmount
2017-07-31
08491313
core:ShareCapital
2018-07-31
08491313
core:ShareCapital
2017-07-31
08491313
core:RetainedEarningsAccumulatedLosses
2018-07-31
08491313
core:RestatedAmount
core:RetainedEarningsAccumulatedLosses
2017-07-31
08491313
core:AcceleratedTaxDepreciationDeferredTax
2018-07-31
08491313
core:AcceleratedTaxDepreciationDeferredTax
2017-07-31
08491313
bus:SmallEntities
2017-08-01
2018-07-31
08491313
bus:AuditExemptWithAccountantsReport
2017-08-01
2018-07-31
08491313
bus:FullAccounts
2017-08-01
2018-07-31
08491313
bus:SmallCompaniesRegimeForAccounts
2017-08-01
2018-07-31
08491313
bus:PrivateLimitedCompanyLtd
2017-08-01
2018-07-31
08491313
bus:OrdinaryShareClass1
2018-07-31
08491313
bus:OrdinaryShareClass1
2017-07-31
08491313
core:FurnitureFittings
2017-08-01
2018-07-31
08491313
core:FurnitureFittings
2017-07-31
08491313
core:FurnitureFittingsToolsEquipment
2018-07-31
08491313
core:FurnitureFittings
2018-07-31
COMPANY REGISTRATION NUMBER:
08491313
|
New Generation Ski & Snowboard Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
New Generation Ski & Snowboard Limited |
|
Year ended 31 July 2018
|
Officers and professional advisers |
1 |
|
|
|
Chartered accountant's 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 |
|
|
|
New Generation Ski & Snowboard Limited |
|
|
Officers and Professional Advisers |
|
|
The board of directors |
Mr A Phillips |
|
Mr H Saxlund |
|
Mr E Wright |
|
Mr S Martin |
|
|
|
Registered office |
Roxburghe House |
|
First Floor |
|
273-287 Regent Street |
|
London |
|
W1B 2HA |
|
|
|
Accountants |
King & King |
|
Chartered accountant |
|
Roxburghe House |
|
273-287 Regent Street |
|
London |
|
United Kingdom |
|
W1B2HA |
|
|
|
New Generation Ski & Snowboard Limited |
|
|
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
New Generation Ski & Snowboard Limited |
|
Year ended 31 July 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of New Generation Ski & Snowboard Limited for the year ended 31 July 2018, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of New Generation Ski & Snowboard Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of New Generation Ski & Snowboard Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than New Generation Ski & Snowboard Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that New Generation Ski & Snowboard Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of New Generation Ski & Snowboard Limited. You consider that New Generation Ski & Snowboard Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of New Generation Ski & Snowboard Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
King & King
Chartered accountant
Roxburghe House
273-287 Regent Street
London
United Kingdom
W1B2HA
29 April 2019
|
New Generation Ski & Snowboard Limited |
|
|
Statement of Financial Position |
|
31 July 2018
Fixed assets
|
Tangible assets |
5 |
37,093 |
7,893 |
|
|
|
|
Current assets
|
Debtors |
6 |
683,933 |
593,292 |
|
Cash at bank and in hand |
70,983 |
25,230 |
|
--------- |
--------- |
|
754,916 |
618,522 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
709,751 |
548,747 |
|
--------- |
--------- |
|
Net current assets |
45,165 |
69,775 |
|
-------- |
-------- |
|
Total assets less current liabilities |
82,258 |
77,668 |
|
|
|
|
|
-------- |
-------- |
|
Net assets |
77,560 |
76,116 |
|
-------- |
-------- |
|
|
|
Capital and reserves
|
Called up share capital |
9 |
100 |
100 |
|
Profit and loss account |
77,460 |
76,016 |
|
-------- |
-------- |
|
Shareholders funds |
77,560 |
76,116 |
|
-------- |
-------- |
|
|
|
|
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 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 July 2018 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
.
|
New Generation Ski & Snowboard Limited |
|
|
Statement of Financial Position (continued) |
|
31 July 2018
These financial statements were approved by the
board of directors
and authorised for issue on
29 April 2019
, and are signed on behalf of the board by:
Company registration number:
08491313
|
New Generation Ski & Snowboard Limited |
|
|
Notes to the Financial Statements |
|
Year ended 31 July 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Roxburghe House, First Floor, 273-287 Regent Street, London, W1B 2HA.
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 during the year. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year,including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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:
|
Equipment |
- |
20% straight line |
|
|
|
|
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
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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. 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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
27
(2017:
28
).
5.
Tangible assets
|
Equipment |
|
£ |
|
Cost |
|
|
At 1 August 2017 |
14,371 |
|
Additions |
33,473 |
|
-------- |
|
At 31 July 2018 |
47,844 |
|
-------- |
|
Depreciation |
|
|
At 1 August 2017 |
6,478 |
|
Charge for the year |
4,273 |
|
-------- |
|
At 31 July 2018 |
10,751 |
|
-------- |
|
Carrying amount |
|
|
At 31 July 2018 |
37,093 |
|
-------- |
|
At 31 July 2017 |
7,893 |
|
-------- |
|
|
6.
Debtors
|
2018 |
2017 |
|
£ |
£ |
|
Trade debtors |
18,196 |
35,470 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
299,872 |
269,438 |
|
Other debtors |
365,865 |
288,384 |
|
--------- |
--------- |
|
683,933 |
593,292 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2018 |
2017 |
|
£ |
£ |
|
Trade creditors |
42,391 |
9,847 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
– |
21,350 |
|
Corporation tax |
– |
13,342 |
|
Social security and other taxes |
4,381 |
7,851 |
|
Payments on account |
374,021 |
458,525 |
|
Accruals and Deferred Income |
90,488 |
11,013 |
|
Other creditors |
198,470 |
26,819 |
|
--------- |
--------- |
|
709,751 |
548,747 |
|
--------- |
--------- |
|
|
|
8.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
2018 |
2017 |
|
£ |
£ |
|
Included in provisions |
4,698 |
1,552 |
|
------- |
------- |
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
2018 |
2017 |
|
£ |
£ |
|
Accelerated capital allowances |
4,698 |
1,552 |
|
------- |
------- |
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
2018 |
2017 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
10.
Related party transactions
At the year end, the following balances were owed to the company by the related parties: | | 2018 | 2017 |
| | £ | £ |
| New Generation (Holdings) Limited | 32,293 | 17,358 |
| New Generation Swiss sarl | – | 79,745 |
| New Generation France sarl | 72,796 | 55,690 |
| New Generation of Ski Teachers Limited | 79,369 | 64,412 |
| New Generation Austria sarl | 9,370 | 52,233 |
| | | |
Included in other debtors is an amount of £174,361 (2017:£149,804) at the year end owed by New Generation SCI, a company in France which is under the common control of the directors and shareholders of New Generation Ski and Snowboard Limited. The company was under the control of parent company New Generation (Holdings) Limited throughout the current year.
