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

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

NEW VENTURES INTERNATIONAL LIMITED - Company Information

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0 false false false false false false false false false true false false false false false false false No description of principal activity 2018-08-01 Sage Accounts Production Advanced 2020 - FRS102_2014 5,822 4,774 210 4,984 838 1,048 51,662 51,662 51,662 xbrli:pure xbrli:shares iso4217:GBP 06317797 2018-08-01 2019-07-31 06317797 2019-07-31 06317797 2018-07-31 06317797 2018-07-31 06317797 core:FurnitureFittings 2018-08-01 2019-07-31 06317797 bus:Director1 2018-08-01 2019-07-31 06317797 core:FurnitureFittings 2018-07-31 06317797 core:FurnitureFittings 2019-07-31 06317797 core:WithinOneYear 2019-07-31 06317797 core:WithinOneYear 2018-07-31 06317797 core:ShareCapital 2019-07-31 06317797 core:ShareCapital 2018-07-31 06317797 core:RetainedEarningsAccumulatedLosses 2019-07-31 06317797 core:RetainedEarningsAccumulatedLosses 2018-07-31 06317797 core:CostValuation core:Non-currentFinancialInstruments 2019-07-31 06317797 core:Non-currentFinancialInstruments 2019-07-31 06317797 core:Non-currentFinancialInstruments 2018-07-31 06317797 core:FurnitureFittings 2018-07-31 06317797 bus:Director1 2018-07-31 06317797 bus:Director1 2017-07-31 06317797 bus:SmallEntities 2018-08-01 2019-07-31 06317797 bus:AuditExemptWithAccountantsReport 2018-08-01 2019-07-31 06317797 bus:FullAccounts 2018-08-01 2019-07-31 06317797 bus:SmallCompaniesRegimeForAccounts 2018-08-01 2019-07-31 06317797 bus:PrivateLimitedCompanyLtd 2018-08-01 2019-07-31
COMPANY REGISTRATION NUMBER: 06317797
NEW VENTURES INTERNATIONAL LIMITED
Filleted Unaudited Financial Statements
31 July 2019
NEW VENTURES INTERNATIONAL LIMITED
Statement of Financial Position
31 July 2019
2019
2018
Note
£
£
£
Fixed assets
Tangible assets
4
838
1,048
Investments
5
51,662
51,663
--------
--------
52,500
52,711
Current assets
Debtors
6
1,123,733
1,118,149
Cash at bank and in hand
371
20,059
------------
------------
1,124,104
1,138,208
Creditors: amounts falling due within one year
7
1,259,603
1,266,188
------------
------------
Net current liabilities
135,499
127,980
---------
---------
Total assets less current liabilities
( 82,999)
( 75,269)
--------
--------
Capital and reserves
Called up share capital
30
30
Profit and loss account
( 83,029)
( 75,299)
--------
--------
Shareholders deficit
( 82,999)
( 75,269)
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NEW VENTURES INTERNATIONAL LIMITED
Statement of Financial Position (continued)
31 July 2019
These financial statements were approved by the board of directors and authorised for issue on 5 August 2020 , and are signed on behalf of the board by:
Mr H V Last
Director
Company registration number: 06317797
NEW VENTURES INTERNATIONAL LIMITED
Notes to the Financial Statements
Year ended 31 July 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 Hallswelle House, 1 Hallswwlle Road, London, NW11 0DH.
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.
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.
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:
Fixtures and fittings
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
4. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 August 2018 and 31 July 2019
5,822
5,822
-------
-------
Depreciation
At 1 August 2018
4,774
4,774
Charge for the year
210
210
-------
-------
At 31 July 2019
4,984
4,984
-------
-------
Carrying amount
At 31 July 2019
838
838
-------
-------
At 31 July 2018
1,048
1,048
-------
-------
5. Investments
Other investments other than loans
£
Cost
At 1 August 2018 and 31 July 2019
51,662
--------
Impairment
At 1 August 2018 and 31 July 2019
–
--------
Carrying amount
At 31 July 2019
51,662
--------
At 31 July 2018
51,662
--------
6. Debtors
2019
2018
£
£
Other debtors
1,123,733
1,118,149
------------
------------
7. Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
1,259,603
1,266,188
------------
------------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2019
2018
£
£
Mr H V Last
132,500
132,500
---------
---------
The director paid interest on loan amounting to £3,313 ( £2018-3,975).