NEWSTEAM_GROUP_LIMITED - Accounts

NEWSTEAM GROUP LTD. - Company Information

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Company Registration No. 09340207 (England and Wales)

NEWSTEAM GROUP LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2015

NEWSTEAM GROUP LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

NEWSTEAM GROUP LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

Notes

Fixed assets

Intangible assets

52,367

Tangible assets

13,554

65,921

Current assets

Stocks

19,340

Debtors

85,884

Cash at bank and in hand

34,164

139,388

Creditors: amounts falling due within one year

(123,610)

Net current assets

15,778

Total assets less current liabilities

81,699

Creditors: amounts falling due after more than one year

(297,000)

(215,301)

Capital and reserves

Called up share capital

103

Profit and loss account

(215,404)

Shareholders' funds

(215,301)

For the financial Period ended 31 December 2015 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 Period in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 31 October 2016

Mr J T W Truscott

Director

Company Registration No. 09340207

NEWSTEAM GROUP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company meets its day to day working capital requirements through an interest free loan from its directors which is repayable on demand.

The nature of the company's business is such that there can be considerable unpredictable variation in the timing of cash inflows. The company is reliant upon the continued support of it's directors without which thw company would cease to be a going concern. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the directors support.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% reducing balance basis and 3 yr staright line

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

NEWSTEAM GROUP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 3 December 2014

Additions

57,001

14,744

71,745

At 31 December 2015

57,001

14,744

71,745

Depreciation

At 3 December 2014

Charge for the period

4,634

1,190

5,824

At 31 December 2015

4,634

1,190

5,824

Net book value

At 31 December 2015

52,367

13,554

65,921

Share capital

2015

Allotted, called up and fully paid

10,000 Ordinary of 1p each

100

1 Ordinary A of £1 each

1 Ordinary B of £1 each

103

During the period 10,000 ordinary shares of £0.01 each were allotted and fully paid at par for cash consideration to provide working capital.

During the period 1 ordinary A share, 1 ordinary B share and 1 ordinary C share of £1.00 each were allotted and fully paid at par for cash consideration to provide additional working capital.