Newvale Greenford Limited - Period Ending 2022-05-31
Newvale Greenford Limited - Period Ending 2022-05-31
Registration number:
Newvale Greenford Limited
for the Period from 1 April 2021 to 31 May 2022
Newvale Greenford Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Newvale Greenford Limited
Company Information
Directors |
Mr I Kamyab Mr E Karimi Dr A M Pourghazi |
Registered office |
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Accountants |
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Newvale Greenford Limited
(Registration number: 08375739)
Balance Sheet as at 31 May 2022
Note |
2022 |
2021 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Other reserves |
( |
- |
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Retained earnings |
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Shareholders' funds |
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For the financial period ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Newvale Greenford Limited
(Registration number: 08375739)
Balance Sheet as at 31 May 2022
Approved and authorised by the
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Newvale Greenford Limited
Statement of Changes in Equity for the Period from 1 April 2021 to 31 May 2022
Share capital |
Revaluation reserve |
Non-distributable reserve |
Retained earnings |
Total |
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At 1 April 2021 |
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- |
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Loss for the period |
- |
- |
- |
( |
( |
Other comprehensive income |
- |
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- |
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Total comprehensive income |
- |
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- |
( |
( |
Dividends |
- |
- |
- |
( |
( |
Transfers |
- |
- |
(10,000) |
- |
(10,000) |
At 31 May 2022 |
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( |
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Share capital |
Revaluation reserve |
Retained earnings |
Total |
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At 1 April 2020 |
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Profit for the period |
- |
- |
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At 31 March 2021 |
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Newvale Greenford Limited
Notes to the Unaudited Financial Statements for the Period from 1 April 2021 to 31 May 2022
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Newvale Greenford Limited
Notes to the Unaudited Financial Statements for the Period from 1 April 2021 to 31 May 2022
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Newvale Greenford Limited
Notes to the Unaudited Financial Statements for the Period from 1 April 2021 to 31 May 2022
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Investment properties |
2022 |
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At 1 April |
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Fair value adjustments |
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At 31 May |
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Debtors |
Current |
2022 |
2021 |
Trade debtors |
- |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Newvale Greenford Limited
Notes to the Unaudited Financial Statements for the Period from 1 April 2021 to 31 May 2022
Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current period were as follows:
Revaluation reserve |
Retained earnings |
Total |
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Surplus/deficit on property, plant and equipment revaluation |
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- |
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Unrealised gain/loss on revaluation of investment property |
- |
10,000 |
10,000 |
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Loans and borrowings |
2022 |
2021 |
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Non-current loans and borrowings |
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Bank borrowings |
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Bank borrowings
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