New Europeans Association Limited - Period Ending 2014-07-31

Registration number: 08646628

New Europeans Association Limited

(A company limited by guarantee)

Unaudited Abbreviated Accounts

for the Period from 12 August 2013 to 31 July 2014

 

Nigel Ricks & Company Ltd
42 Glebe Street
Loughborough
Leicestershire
LE11 1JR

New Europeans Association Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 3) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
New Europeans Association Limited
for the Period Ended 31 July 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of New Europeans Association Limited for the period ended 31 July 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of New Europeans Association Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of New Europeans Association Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than New Europeans Association Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that New Europeans Association 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 Europeans Association Limited. You consider that New Europeans Association Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of New Europeans Association 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 statutory accounts.

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

Nigel Ricks & Company Ltd
42 Glebe Street
Loughborough
Leicestershire
LE11 1JR

16 October 2014

Page 1

New Europeans Association Limited
(Registration number: 08646628)
Abbreviated Balance Sheet at 31 July 2014

		Note			31 July 2014 £
Current assets
Debtors					767
Cash at bank and in hand					2,425
					3,192
Creditors: Amounts falling due within one year					(1,847)
Net assets					1,345
Capital and reserves
Profit and loss account					1,345
Shareholders' funds					1,345

For the year ending 31 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 16 October 2014 and signed on its behalf by:

.........................................
Mr R Casale
Director

.........................................
Mrs T F Flanagan
Director

.........................................
Mr M J W Roberts
Director

The notes on page 3 form an integral part of these financial statements.
Page 2

New Europeans Association Limited
Notes to the Abbreviated Accounts for the Period from 12 August 2013 to 31 July 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of the sale of goods and services to customers.

Government grants

Grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to purchase of assets are treated as deferred income and allocated to income statement over the useful lives of the related assets while grants related to expenses are treated as other income in the profit and loss statement.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

Page 3