New Dawn Financial Services Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 01821648 (England and Wales)

NEW DAWN FINANCIAL SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr P.C. Rhead

Miss P.M. Bobrowski

SECRETARY:

Mr P.C. Rhead

REGISTERED OFFICE:

Kingsland House

Old Stafford Road

Slade Heath, Nr Coven

Wolverhampton

West Midlands

WV10 7PH

REGISTERED NUMBER:

01821648 (England and Wales)

ACCOUNTANTS:

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

BANKERS:

Barclays Bank Plc

Queens Square

Wolverhampton

West Midlands

WV1 1DS

The following reproduces the text of the report prepared for the directors and members in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and

certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of New Dawn Financial Services Limited for the year ended 31 March 2016 which comprise the Statement of

Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of New Dawn Financial Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of New Dawn Financial Services Limited and state those matters that we have agreed to state to the Board of Directors of New Dawn Financial Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than New Dawn Financial Services Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that New Dawn Financial Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of New Dawn Financial Services Limited. You consider that New Dawn Financial Services 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 financial statements of New Dawn Financial Services 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 financial statements.

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

15 December 2016

FIXED ASSETS

Tangible assets

2

80,152

80,160

CURRENT ASSETS

Stocks

2,219

-

Debtors

3

550,623

537,830

Cash at bank

808

857

553,650

538,687

CREDITORS

Amounts falling due within one year

4

429,437

418,863

NET CURRENT ASSETS

124,213

119,824

TOTAL ASSETS LESS CURRENT LIABILITIES

204,365

199,984

PROVISIONS FOR LIABILITIES

6

15,153

14,962

NET ASSETS

189,212

185,022

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

189,112

184,922

SHAREHOLDERS' FUNDS

189,212

185,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 December 2016 and were signed on its behalf by:

Mr P.C. Rhead - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as

permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Turnover

Turnover represents net sales of goods/services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2015

and 31 March 2016

80,136

2,601

82,737

DEPRECIATION

At 1 April 2015

-

2,577

2,577

Charge for year

-

8

8

At 31 March 2016

-

2,585

2,585

NET BOOK VALUE

At 31 March 2016

80,136

16

80,152

At 31 March 2015

80,136

24

80,160

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed by group undertakings

15,169

1,999

Other debtors

535,454

535,831

550,623

537,830

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

5,975

227

Amounts owed to group undertakings

379,519

373,860

Taxation and social security

7,253

4,691

Other creditors

36,690

40,085

429,437

418,863

5.

LOANS

An analysis of the maturity of loans is given below:

2016

2015

£

£

Amounts falling due within one year or on demand:

Other loans

32,900

32,900

6.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

Accelerated capital allowances

15,153

14,962

Deferred

tax

£

Balance at 1 April 2015

14,962

Charge to Statement of Comprehensive Income during year

191

Balance at 31 March 2016

15,153

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2015

184,922

Profit for the year

4,190

At 31 March 2016

189,112

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2016 and

31 March 2015:

2016

2015

£

£

Mr P.C. Rhead

Balance outstanding at start of year

315,436

321,426

Amounts advanced

2,195

-

Amounts repaid

(8,799

)

(5,990

)

Balance outstanding at end of year

308,832

315,436

10.	RELATED PARTY DISCLOSURES

During the year, the company undertook various transactions with companies under the control of Mr. P. C. Rhead.

These transactions were as follows:

Management Charges Received

Management Charges Paid

£

£

Transmission Units & Co. (Sales & Service) Limited

11,000

-

Nationwide Transmission Services Limited

7,250

-

Exchange Transmissions Limited

7,500

-

Commercial Parts Supplies Limited

7,250

-

Pennygate Holdings Plc

-

11,051

In addition, the balances owing from or to these related companies were as follows:

Owing by New Dawn Financial Services Limited

£

Exchange Transmissions Limited

17,810

Transmission Units & Co. (Sales & Services) Limited

341,449

Commercial Parts Supplies Limited

19,260

Pennygate Holdings Plc

1,000

Owing to New Dawn Financial Services Limited

Nationwide Transmission Services Limited

15,169

11.

CONTROL

Control of the company is exercised by Mr. P. C. Rhead, by virtue of his shareholdings.

12.	STATUTORY INFORMATION

New Dawn Financial Services Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

13.	FIRST YEAR ADOPTION

No adjustments to the values included in the financial statements were required on transition to Financial Reporting

Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".