Company No: 13181748 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.08.2022		31.08.2021
		£		£
Fixed assets
Investments	3	1,434,735		1,434,735
		1,434,735		1,434,735
Creditors: amounts falling due within one year	4	( 446,112)		( 377,868)
Net current liabilities		(446,112)		(377,868)
Total assets less current liabilities		988,623		1,056,867
Creditors: amounts falling due after more than one year	5	( 341,223)		( 409,467)
Net assets		647,400		647,400
Capital and reserves
Called-up share capital	6	117		117
Share premium account		647,283		647,283
Total shareholders' funds		647,400		647,400

For the financial year ending 31 August 2022 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of New World Holdings Limited (registered number: 13181748) were approved and authorised for issue by the Director on 18 April 2023. They were signed on its behalf by:

Benjamen Mudge Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

New World Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit E Hill Barton Business Park Sidmouth Road, Clyst St Mary, Exeter, EX5 1DR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The prior year is a 7 month period ending on 31 August 2021. This is due to the company being incorporated on 5 February 2021. The comparatives are therefore not entirely comparable.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	Year ended 31.08.2022		Period from 05.02.2021 to 31.08.2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Fixed asset investments

Investments in subsidiaries

	31.08.2022
	£
Cost
At 01 September 2021	1,434,735
At 31 August 2022	1,434,735
Carrying value at 31 August 2022	1,434,735
Carrying value at 31 August 2021	1,434,735

4. Creditors: amounts falling due within one year

	31.08.2022		31.08.2021
	£		£
Amounts owed to own subsidiaries	377,868		309,624
Other loans	68,244		68,244
	446,112		377,868

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

	31.08.2022		31.08.2021
	£		£
Other loans	341,223		409,467

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

	31.08.2022		31.08.2021
	£		£
Allotted, called-up and fully-paid
117 Ordinary shares of £ 1.00 each	117		117

7. Related party transactions

Transactions with the entity's directors

	31.08.2022		31.08.2021
	£		£
Dividends	876,000		246,000