Company Registration No. 09376954 (England and Wales)
Newcraft Investments Limited
Unaudited accounts
for the year ended 31 March 2020
Newcraft Investments Limited
Unaudited accounts
Contents
Newcraft Investments Limited
Company Information
for the year ended 31 March 2020
Company Number
09376954 (England and Wales)
Registered Office
103 High Street
Waltham Cross
Herts.
EN8 7AN
Accountants
Brindley Goldstein Ltd
103 High Street
Waltham Cross
Herts.
EN8 7AN
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Newcraft Investments Limited for the year ended 31 March 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Newcraft Investments Limited for the year ended
31 March 2020 as set out on pages
5 -
7 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 Newcraft Investments Limited, as a body, in accordance with the terms of our engagement letter dated 29 November 2018. Our work has been undertaken solely to prepare for your approval the accounts of Newcraft Investments Limited and state those matters that we have agreed to state to the Board of Directors of Newcraft Investments Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newcraft Investments Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Newcraft Investments 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 Newcraft Investments Limited. You consider that Newcraft Investments 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 accounts of Newcraft Investments 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.
Brindley Goldstein Ltd
Chartered Accountants
103 High Street
Waltham Cross
Herts.
EN8 7AN
11 March 2021
Newcraft Investments Limited
Statement of financial position
as at
31 March 2020
Investment property
1,540,000
1,540,000
Cash at bank and in hand
981
84
Creditors: amounts falling due within one year
(78,498)
(70,142)
Net current liabilities
(26,404)
(39,842)
Total assets less current liabilities
1,513,596
1,500,158
Creditors: amounts falling due after more than one year
(1,341,354)
(1,357,182)
Net assets
172,242
142,976
Called up share capital
1
1
Profit and loss account
172,241
142,975
Shareholders' funds
172,242
142,976
For the year ending 31 March 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 director acknowledges his 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.
The financial statements were approved by the Board and authorised for issue on 11 March 2021 and were signed on its behalf by
Mr Y. Tal
Director
Company Registration No. 09376954
Newcraft Investments Limited
Notes to the Accounts
for the year ended 31 March 2020
Newcraft Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 09376954. The registered office is 103 High Street, Waltham Cross, Herts. , EN8 7AN.
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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover represents rent receivable.
4
Investment property
2020
Fair value at 1 April 2019
1,540,000
At 31 March 2020
1,540,000
Other debtors
51,113
30,216
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
36,126
34,575
Taxes and social security
8,587
1,659
Other creditors
32,285
32,408
Newcraft Investments Limited
Notes to the Accounts
for the year ended 31 March 2020
7
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
648,408
664,236
Amounts owed to group undertakings and other participating interests
692,946
692,946
8
Share capital
2020
2019
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Transactions with related parties
The company was under the control of Mr Y. Tal throughout the current year.
10
Average number of employees
During the year the average number of employees was 0 (2019: 0).