ACCOUNTS - Final Accounts


Caseware UK (AP4) 2016.0.208 2016.0.2082017-12-31090356812017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2017-01-01090356812017-01-012017-12-31090356812016-06-012016-12-31090356812017-12-31090356812016-12-3109035681 c:Director1 2017-01-012017-12-3109035681 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-3109035681 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-3109035681 d:ShareCapital 2017-12-3109035681 d:ShareCapital 2016-12-3109035681 d:RetainedEarningsAccumulatedLosses 2017-12-3109035681 d:RetainedEarningsAccumulatedLosses 2016-12-3109035681 c:FRS102 2017-01-012017-12-3109035681 c:AuditExempt-NoAccountantsReport 2017-01-012017-12-3109035681 c:FullAccounts 2017-01-012017-12-3109035681 c:PrivateLimitedCompanyLtd 2017-01-012017-12-31iso4217:GBPxbrli:pure



















NEWCO EUROPE UK LTD
Registered number: 09035681
Directors' report and unaudited financial statements

For the year ended 31 December 2017

 
 09035681
31 December 2017
NEWCO EUROPE UK LTD
Registered number: 09035681

BALANCE SHEET
AS AT 31 DECEMBER 2017

2017
Period to 31 December 2016
Note
£
£

  

Current assets
  

Debtors
  
22,763
9,449

Cash at bank and in hand
  
12,717
1,777

  
35,480
11,226

Creditors: amounts falling due within one year
  
(192,985)
(8,344)

Net current (liabilities)/assets
  
 
 
(157,505)
 
 
2,882

Total assets less current liabilities
  
(157,505)
2,882

  

Net (liabilities)/assets
  
(157,505)
2,882


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(157,605)
2,782

  
(157,505)
2,882


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr C Adriaanse
Director

Date: 27 September 2018
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 09035681
31 December 2017
NEWCO EUROPE UK LTD
Registered number: 09035681
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2017


The notes on pages 3 to 5 form part of these financial statements.

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 09035681
31 December 2017
NEWCO EUROPE UK LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

1.


General information

NEWCO EUROPE UK LTD is a limited company incorporated in England and Wales. The address of its registered office is Mazars LLP, 45 Church Street, Birmingham, B3 2RT. The principal activity of the company is that of non-specialised wholesale trade.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

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 09035681
31 December 2017
NEWCO EUROPE UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 June 2016 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.4

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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 09035681
31 December 2017
NEWCO EUROPE UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2016 - 2).


4.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £195 (2016 - £nil) . 


5.


Controlling party

The ultimate parent company is NEWCO EUROPE BV, a company registered in The Netherlands.

 
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