New Control Limited - Abbreviated accounts

New Control Limited - Abbreviated accounts


Registered number
07946781
New Control Limited
Abbreviated Accounts
31 March 2016
New Control Limited
Report to the director on the preparation of the unaudited abbreviated accounts of New Control Limited for the year ended 31 March 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of New Control Limited for the year ended 31 March 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
It is your duty to ensure that New Control Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of New Control Limited. You consider that New Control Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of New Control Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts.
G C Forest & Co
Chartered Certified Accountants
190 Billet Road
London
E17 5DX
6 October 2016
New Control Limited
Registered number: 07946781
Abbreviated Balance Sheet
as at 31 March 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 3,086,353 1,516,483
Current assets
Debtors 10,228 1,875
Cash at bank and in hand 50,257 51,617
60,485 53,492
Creditors: amounts falling due within one year (1,445,938) (689,032)
Net current liabilities (1,385,453) (635,540)
Total assets less current liabilities 1,700,900 880,943
Creditors: amounts falling due after more than one year - (792,715)
Net assets 1,700,900 88,228
Capital and reserves
Called up share capital 3 100 100
Revaluation reserve 1,571,391 -
Profit and loss account 129,409 88,128
Shareholders' funds 1,700,900 88,228
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Mr Hossien Rezvani
Director
Approved by the board on 6 October 2016
New Control Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Leasehold land and buildings over the lease term
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. No provision was found to be necessary for the year ended 31 March 2016.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
2 Tangible fixed assets £
Cost
At 1 April 2015 1,519,525
Surplus on revaluation 1,571,391
At 31 March 2016 3,090,916
Depreciation
At 1 April 2015 3,042
Charge for the year 1,521
At 31 March 2016 4,563
Net book value
At 31 March 2016 3,086,353
At 31 March 2015 1,516,483
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
4 Related party transactions 2016 2015
£ £
Fleetmill Ltd
Associate Company
Inter company Balance
Amount due to the related party 463,787 468,287
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