NEW TICK LIMITED Filleted accounts for Companies House (small and micro)

EC MARKETS CAPITAL LTD - Company Information

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COMPANY REGISTRATION NUMBER: 10752535

NEW TICK LIMITED

Filleted Unaudited Financial Statements

31 May 2019

NEW TICK LIMITED

Financial Statements

Year ended 31 May 2019

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

NEW TICK LIMITED

Officers and Professional Advisers

The board of directors	Mr X LU
	Mr B HONG

Registered office	204 Landing Waiters House
	28 New Village Avenue
	London
	England
	E14 0GJ

Accountant	PS Book-Keeping & Accountancy
	P Skamballis
	Unit 1, Grange Way Business Park
	Grange Way
	Colchester
	Essex
	CO2 8HF

NEW TICK LIMITED

Statement of Financial Position

31 May 2019

	2019		2018
Note	£	£	£

Current assets

Debtors	5	8,850	–
Cash at bank and in hand		521,288	100
		---------	----
		530,138	100

Creditors: amounts falling due within one year	6	660		17,335
		---------		--------
Net current assets/(liabilities)			529,478	( 17,235)
			---------	--------
Total assets less current liabilities			529,478	( 17,235)

Creditors: amounts falling due after more than one year	7	804,065	88,344
		---------	---------
Net liabilities		( 274,587)	( 105,579)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 274,687)	( 105,679)
	---------	---------
Shareholders deficit	( 274,587)	( 105,579)
	---------	---------

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 May 2019 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 TICK LIMITED

Statement of Financial Position (continued)

31 May 2019

These financial statements were approved by the board of directors and authorised for issue on 14 February 2020 , and are signed on behalf of the board by:

Mr B HONG

Director

Company registration number: 10752535

NEW TICK LIMITED

Notes to the Financial Statements

Year ended 31 May 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 204 Landing Waiters House, 28 New Village Avenue, London, E14 0GJ, England.

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.

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 2 (2018: 1 ).

5. Debtors

	2019	2018
	£	£
Other debtors	8,850	–
	-------	----

Other debtors: Rent deposits

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Social security and other taxes	–	1,627
Other creditors	660	15,708
	----	--------
	660	17,335
	----	--------

Other creditors: Pension contributions due for payment.

7. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Other creditors	804,065	88,344
	---------	--------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2019	2018
	£	£
Mr B HONG	( 804,065)	( 88,344)
	---------	--------

9. Related party transactions

The company was under the control of the directors Mr Xiaoliang Lu and Mr Bin Hong throughout the current year. Mr Bin Hong is the major shareholder and he is the ultimate controlling party of the company. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.