New Eco Developments Limited - Accounts to registrar (filleted) - small 23.2.5
New Eco Developments Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| NEW ECO DEVELOPMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2023 |
| NEW ECO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09045536) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| NEW ECO DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MAY 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Tudor House |
| 16 Cathedral Road |
| Cardiff |
| CF11 9LJ |
| NEW ECO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09045536) |
| BALANCE SHEET |
| 31ST MAY 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| NEW ECO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09045536) |
| BALANCE SHEET - continued |
| 31ST MAY 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| NEW ECO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09045536) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2023 |
| 1. | STATUTORY INFORMATION |
| New Eco Developments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Fixtures and fittings | - |
| Land and buildings are stated at cost and depreciated over their estimated useful life of 50 years. Where the cost of the property is considered to be land only, with no value attributable to buildings, then depreciation is not charged. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| NEW ECO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09045536) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| Although the company has an excess of liabilities over assets and incurred a loss for the year, the directors consider that the net realisable value of the company's properties exceeds the value in the accounts. Further the directors consider that the excess is sufficient to allow assets to exceed liabilities. The directors remain confident that the company is able to source adequate financial support to allow it to continue trading. Consequently the directors are confident that it is correct to prepare the accounts on a going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Freehold | to | and |
| property | property | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st June 2022 |
| and 31st May 2023 |
| DEPRECIATION |
| At 1st June 2022 |
| Charge for year |
| At 31st May 2023 |
| NET BOOK VALUE |
| At 31st May 2023 |
| At 31st May 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| Additions |
| At 31st May 2023 |
| NET BOOK VALUE |
| At 31st May 2023 |
| NEW ECO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09045536) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Amounts owed by associates |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Amounts owed to associates | 43,565 | 7,565 |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Loans from third parties | 984,297 | 609,297 |
| Included in other creditors, amounts falling due within one year, are a number of loans from third parties secured on certain properties owned by the company. The loans are interest bearing and are repayable from the proceeds on sale of the property to which it relates or a subsequent refinancing. |