Company Registration No. SC295024 (Scotland)
Newyear Limited
Unaudited accounts
for the year ended 31 January 2020
Newyear Limited
Unaudited accounts
Contents
Newyear Limited
Company Information
for the year ended 31 January 2020
Directors
J Brown
Mrs E Brown
Company Number
SC295024 (Scotland)
Registered Office
FLAT 1-3 1 MILVERTON GRANGE
MILVERTON ROAD
GIFFNOCK
GLASGOW
G46 7AU
SCOTLAND
Newyear Limited
Statement of financial position
as at 31 January 2020
Cash at bank and in hand
26,441
14,958
Creditors: amounts falling due within one year
(384)
(683)
Net current assets
26,057
14,275
Called up share capital
8
4
Profit and loss account
26,049
75,842
Shareholders' funds
26,057
75,846
For the year ending 31 January 2020 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 3 February 2020.
J Brown
Director
Company Registration No. SC295024
Newyear Limited
Notes to the Accounts
for the year ended 31 January 2020
Newyear Limited is a private company, limited by shares, registered in Scotland, registration number SC295024. The registered office is FLAT 1-3 1 MILVERTON GRANGE, MILVERTON ROAD, GIFFNOCK, GLASGOW, G46 7AU, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The directors are satisfied that the company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.
4
Investments
Other investments
Valuation at 1 February 2019
61,571
Valuation at 31 January 2020
-
Investment with balance sheet value of £61,751 was divested during the year.
5
Creditors: amounts falling due within one year
2020
2019
Newyear Limited
Notes to the Accounts
for the year ended 31 January 2020
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
4 Bonus shares of £1 each
4
-
Shares issued during the period:
4 Bonus shares of £1 each
4
7
Transactions with related parties
During the year, total dividends of £47,400 were paid to the directors.
8
Average number of employees
During the year the average number of employees was 3 (2019: 3).
