New Venture Products Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04985393 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

New Venture Products Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Rudge

Ms S F Allen-Stevens

SECRETARY:

REGISTERED OFFICE:

Unit 8 The Glenmore Centre

Grove Business Park

Downsview Road

Wantage

Oxfordshire

OX12 9GN

REGISTERED NUMBER:

04985393 (England and Wales)

ACCOUNTANTS:

Aspen Waite South Ltd

Boston House

Grove Business Park

Wantage

Oxfordshire

OX12 9FF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,763

3,853

2,763

3,853

CURRENT ASSETS

Stocks

84,443

90,852

Debtors

6

15,784

13,141

Cash at bank and in hand

8,669

13,274

108,896

117,267

CREDITORS

Amounts falling due within one year

7

104,321

101,458

NET CURRENT ASSETS

4,575

15,809

TOTAL ASSETS LESS CURRENT LIABILITIES

7,338

19,662

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

9

6,338

18,662

SHAREHOLDERS' FUNDS

7,338

19,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 September 2019 and were signed on its behalf by:

S Rudge - Director

1.	STATUTORY INFORMATION

New Venture Products Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

30% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

17,500

AMORTISATION

At 1 January 2018

and 31 December 2018

17,500

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2018

and 31 December 2018

13,988

15,380

29,368

DEPRECIATION

At 1 January 2018

11,715

13,800

25,515

Charge for year

568

522

1,090

At 31 December 2018

12,283

14,322

26,605

NET BOOK VALUE

At 31 December 2018

1,705

1,058

2,763

At 31 December 2017

2,273

1,580

3,853

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

11,835

9,234

Other debtors

3,949

3,907

15,784

13,141

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

54,011

67,209

Taxation and social security

10,013

3,861

Other creditors

40,297

30,388

104,321

101,458

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

100

Ordinary Shares

£1

1,000

1,000

9.

RESERVES

Retained

earnings

£

At 1 January 2018

18,662

Deficit for the year

(12,324

)

At 31 December 2018

6,338

10.	ULTIMATE CONTROLLING PARTY