New Road Accounting Limited 31/01/2019 iXBRL

New Road Accounting Limited 31/01/2019 iXBRL

NEW ROAD ACCOUNTING LIMITED - Company Information

Print Friendly Version

31/01/2019 2019-01-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-01-31 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 11180928 2018-01-31 2019-01-31 11180928 2019-01-31 11180928 bus:RegisteredOffice 2018-01-31 2019-01-31 11180928 bus:Director1 2018-01-31 2019-01-31 11180928 bus:Director2 2018-01-31 2019-01-31 11180928 bus:CompanySecretary1 2018-01-31 2019-01-31 11180928 core:WithinOneYear 2019-01-31 11180928 core:ShareCapital 2018-01-31 2019-01-31 11180928 core:RetainedEarningsAccumulatedLosses 2018-01-31 2019-01-31 11180928 core:ShareCapital 2019-01-31 11180928 core:RetainedEarningsAccumulatedLosses 2019-01-31 11180928 bus:SmallEntities 2018-01-31 2019-01-31 11180928 bus:AuditExempt-NoAccountantsReport 2018-01-31 2019-01-31 11180928 bus:FullAccounts 2018-01-31 2019-01-31 11180928 bus:SmallCompaniesRegimeForAccounts 2018-01-31 2019-01-31 11180928 bus:PrivateLimitedCompanyLtd 2018-01-31 2019-01-31
Company registration number: 11180928
New Road Accounting Limited
Unaudited filleted financial statements
31 January 2019
New Road Accounting Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
New Road Accounting Limited
Directors and other information
Directors Martin Peters (Appointed 31 January 2018)
Ian Epstein (Appointed 7 August 2018)
Secretary Alexander Bursk Limited
Incorporated 31 January 2018
Company number 11180928
Registered office Parkgates
Bury New Road
Prestwich
Manchester
M25 0JW
New Road Accounting Limited
Statement of financial position
31 January 2019
31/01/19
Note £ £
Current assets
Debtors 4 15,125
_______
15,125
Creditors: amounts falling due
within one year 5 ( 15,250)
_______
Net current liabilities ( 125)
_______
Total assets less current liabilities ( 125)
_______
Net liabilities ( 125)
_______
Capital and reserves
Called up share capital 1
Profit and loss account ( 126)
_______
Shareholder deficit ( 125)
_______
For the period ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period 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.
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.
These financial statements were approved by the board of directors and authorised for issue on 04 September 2019 , and are signed on behalf of the board by:
Martin Peters
Director
Company registration number: 11180928
New Road Accounting Limited
Statement of changes in equity
Period ended 31 January 2019
Called up share capital Profit and loss account Total
£ £ £
At 31 January 2018 - - -
Loss for the period ( 126) ( 126)
_______ _______ _______
Total comprehensive income for the period - ( 126) ( 126)
Issue of shares 1 1
_______ _______ _______
Total investments 1 - 1
_______ _______ _______
At 31 January 2019 1 ( 126) ( 125)
_______ _______ _______
New Road Accounting Limited
Notes to the financial statements
Period ended 31 January 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Parkgates, Bury New Road, Prestwich, Manchester, M25 0JW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
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 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.
4. Debtors
31/01/19
£
Amounts owed by group undertakings 15,125
_______
5. Creditors: amounts falling due within one year
31/01/19
£
Amounts owed to group undertakings 15,250
_______
6. Related party transactions
Martin Peters and Ian S Epstein are Directors of Alexander Bursk Limited a connected company. As at 31 January 2019 a balance of £15,250 was due to Alexander Bursk Limited , in relation to administrative cost incurred on behalf of New Road Accounting Limited , during the period. As at 31 January 2019 the company was owed £15,125 from its parent company First Regional Accounting Limited in relation to consultancy services provided during the period.
7. Controlling party
100% of the issued share capital is owned by First Regional Accounting Limited which is wholly owned by it's Holding Company FR Accounting Group Limited.