ACCOUNTS - Final Accounts preparation

NEW VANTAGE CONSULTING LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-08-01falseNo description of principal activity22falsetrue 12084836 2022-08-01 2023-07-31 12084836 2021-08-01 2022-07-31 12084836 2023-07-31 12084836 2022-07-31 12084836 c:Director2 2022-08-01 2023-07-31 12084836 d:FurnitureFittings 2022-08-01 2023-07-31 12084836 d:FurnitureFittings 2023-07-31 12084836 d:FurnitureFittings 2022-07-31 12084836 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12084836 d:ComputerEquipment 2022-08-01 2023-07-31 12084836 d:ComputerEquipment 2023-07-31 12084836 d:ComputerEquipment 2022-07-31 12084836 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12084836 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12084836 d:CurrentFinancialInstruments 2023-07-31 12084836 d:CurrentFinancialInstruments 2022-07-31 12084836 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12084836 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12084836 d:ShareCapital 2023-07-31 12084836 d:ShareCapital 2022-07-31 12084836 d:RetainedEarningsAccumulatedLosses 2023-07-31 12084836 d:RetainedEarningsAccumulatedLosses 2022-07-31 12084836 c:FRS102 2022-08-01 2023-07-31 12084836 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12084836 c:FullAccounts 2022-08-01 2023-07-31 12084836 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12084836 2 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company registration number: 12084836

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 JULY 2023

	NEW VANTAGE CONSULTING LIMITED


NEW VANTAGE CONSULTING LIMITED REGISTERED NUMBER:12084836

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		2,237		3,092
			2,237		3,092
Current assets
Debtors: amounts falling due within one year	5	27,885		21,332
Cash at bank and in hand		50,037		18,323
		77,922		39,655
Creditors: amounts falling due within one year	6	(34,153)		(32,410)
Net current assets			43,769		7,245
Total assets less current liabilities			46,006		10,337

Net assets			46,006		10,337

Capital and reserves
Called up share capital	100	100
Profit and loss account	45,906	10,237
	46,006	10,337

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NEW VANTAGE CONSULTING LIMITED REGISTERED NUMBER:12084836

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

R E Campbell

Director

Date: 24 April 2024

The notes on pages 3 to 5 form part of these financial statements.

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NEW VANTAGE CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

1.	General information

New Vantage Consulting Limited 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 and principal place of business is disclosed on the company information page.
The company's functional and presentational currency is GBP.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

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NEW VANTAGE CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	33%
				Computer equipment	-	33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.8

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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

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NEW VANTAGE CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

4.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 August 2022	777	5,630	6,407
Additions	492	427	919
At 31 July 2023	1,269	6,057	7,326
Depreciation
At 1 August 2022	406	2,909	3,315
Charge for the year on owned assets	247	1,527	1,774
At 31 July 2023	653	4,436	5,089
Net book value
At 31 July 2023	616	1,621	2,237
At 31 July 2022	371	2,721	3,092

Debtors

					2023	2022
					£	£


Trade debtors	27,885	21,332
	27,885	21,332

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Corporation tax	21,112	21,780
Other taxation and social security	6,842	8,531
Other creditors	4,899	1,099
Accruals and deferred income	1,300	1,000
	34,153	32,410

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