Newland Holdings Limited Filleted accounts for Companies House (small and micro)

NEWLAND HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04446845

Newland Holdings Limited

Filleted Unaudited Financial Statements

Year ended

30 September 2020

Newland Holdings Limited

Financial Statements

Year ended 30 September 2020

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Newland Holdings Limited

Statement of Financial Position

30 September 2020

	2020		2019
Note	£	£	£	£

Fixed assets

Tangible assets	4		252,000		252,000

Current assets

Cash at bank and in hand	27		27

Creditors: amounts falling due within one year	5	114,469		114,469
		----------		----------
Net current liabilities			114,442		114,442
			----------		----------
Total assets less current liabilities			137,558		137,558
			----------		----------

Capital and reserves

Called up share capital	1	1
Profit and loss account	137,557	137,557
	----------	----------
Shareholder funds	137,558	137,558
	----------	----------

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 Section 1A of 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 income statement has not been delivered.

The company did not trade during the current year or prior year and has not made either a profit or loss.

For the year ending 30 September 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

- The member has 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 .

Newland Holdings Limited

Statement of Financial Position (continued)

30 September 2020

These financial statements were approved by the board of directors and authorised for issue on 30 September 2021 , and are signed on behalf of the board by:

Mr N Soper Director

Company registration number: 04446845

Newland Holdings Limited

Notes to the Financial Statements

Year ended 30 September 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Jenning Street, Cleveland Street, Hull, East Yorkshire, HU8 7AN, England.

2. Statement of compliance

These financial statements have been prepared in compliance with 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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 be paid or recovered 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.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be 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.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 October 2019 and 30 September 2020	252,000
	----------
Depreciation
At 1 October 2019 and 30 September 2020	–
	----------
Carrying amount
At 30 September 2020	252,000
	----------
At 30 September 2019	252,000
	----------

5. Creditors: amounts falling due within one year

	2020	2019
	£	£
Other creditors	114,469	114,469
	----------	----------

6. Related party transactions

The balance owing by the company on the director s loan account at the year end was £ 114,469 , (2019 - £114,469). The loan is interest free and repayable on demand.