New Generation Ski & Snowboard Limited Company Accounts
New Generation Ski & Snowboard Limited Company Accounts
COMPANY REGISTRATION NUMBER:
08491313
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Financial Statements |
Year ended 31 July 2017
Contents |
Page |
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
4 |
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Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 31 July 2017
Roxburghe House
273-287 Regent Street
London
United Kingdom
W1B2HA
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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--------- |
--------- |
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Creditors: amounts falling due within one year |
7 |
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--------- |
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Net current assets |
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--------- |
--------- |
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Total assets less current liabilities |
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Provisions |
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Accruals and deferred income |
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--------- |
--------- |
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Net assets |
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--------- |
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Capital and reserves
Called up share capital |
9 |
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Profit and loss account |
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-------- |
-------- |
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Shareholders funds |
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-------- |
-------- |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
27 April 2018
, and are signed on behalf of the board by:
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Director |
Company registration number:
08491313
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Notes to the Financial Statements |
Year ended 31 July 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Roxburghe House, First Floor, 273-287 Regent Street, London, W1B 2HA.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.
Revenue recognition
Income tax
Foreign currencies
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment |
- |
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Impairment of fixed assets
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
28
(2016:
24
).
5.
Tangible assets
Equipment |
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£ |
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Cost |
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At 1 August 2016 |
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Additions |
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-------- |
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At 31 July 2017 |
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-------- |
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Depreciation |
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At 1 August 2016 |
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Charge for the year |
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-------- |
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At 31 July 2017 |
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-------- |
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Carrying amount |
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At 31 July 2017 |
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-------- |
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At 31 July 2016 |
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-------- |
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6.
Debtors
2017 |
2016 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Corporation tax |
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– |
Social security and other taxes |
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Other creditors |
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8.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
2017 |
2016 |
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£ |
£ |
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Included in provisions |
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------- |
------- |
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The deferred tax account consists of the tax effect of timing differences in respect of:
2017 |
2016 |
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£ |
£ |
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Accelerated capital allowances |
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------- |
------- |
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9.
Called up share capital
Issued, called up and fully paid
2017 |
2016 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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10.
Related party transactions
At the year end, the following balances were owed to the company by the related parties:
2017 | 2016 | ||
£ | £ | ||
New Generation (Holdings) Limited |
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New Generation Swiss sarl | 79,745 | ||
New Generation France sarl | 55,690 | 38,638 | |
New Generation of Ski Teachers Limited | 64,412 | 82,061 | |
New Generation Austria sarl | 52,233 | ||
At the year end, the following balances were owed to the company to the related parties:
2017 | 2016 | ||
£ | £ | ||
New Generation (Holdings) Limited | – |
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Included in other debtors is an amount of £149,804 at the year end owed by New Generation SCI, a company in France which is under the common control of the directors and shareholders of New Generation Ski and Snowboard Limited. The company was under the control of New Generation (Holdings) Limited throughout the current year.
11.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 August 2015.
Reconciliation of equity
1 August 2015 |
31 July 2016 |
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As previously stated |
Effect of transition |
FRS 102 (as restated) |
As previously stated |
Effect of transition |
FRS 102 (as restated) |
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£ |
£ |
£ |
£ |
£ |
£ |
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Fixed assets |
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– |
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– |
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Current assets |
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– |
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– |
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Creditors: amounts falling due within one year |
(
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– |
(
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(
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– |
(
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--------- |
---- |
--------- |
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---- |
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Net current assets |
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– |
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– |
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--------- |
---- |
--------- |
--------- |
---- |
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Total assets less current liabilities |
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– |
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– |
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Provisions |
– |
– |
– |
– |
(
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(
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Accruals and deferred income |
(
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– |
(
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(
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– |
(
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--------- |
---- |
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------- |
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Net assets |
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– |
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(
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--------- |
---- |
--------- |
--------- |
------- |
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--------- |
---- |
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------- |
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Capital and reserves |
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– |
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(
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--------- |
---- |
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