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REGISTERED NUMBER: 06513151 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

New Wealth Property Limited

New Wealth Property Limited (Registered number: 06513151)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


New Wealth Property Limited

Company Information
for the Year Ended 31 March 2022







Directors: Mrs S J A Allen
Mr N J Allen





Registered office: 48 Union Street
Hyde
Cheshire
SK14 1ND





Registered number: 06513151 (England and Wales)





Accountants: Allen Mills Howard & Co
Chartered Certified Accountants
Library Chambers
48 Union Street
Hyde
Cheshire
SK14 1ND

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
New Wealth Property Limited

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement 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 Wealth Property Limited for the year ended 31 March 2022 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of New Wealth Property 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 Wealth Property Limited and state those matters that we have agreed to state to the Board of Directors of New Wealth Property Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that New Wealth Property 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 Wealth Property Limited. You consider that New Wealth Property 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 Wealth Property 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.






Allen Mills Howard & Co
Chartered Certified Accountants
Library Chambers
48 Union Street
Hyde
Cheshire
SK14 1ND


8 September 2022

New Wealth Property Limited (Registered number: 06513151)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
Fixed assets
Tangible assets 4 - -
Investment property 5 510,676 510,676
510,676 510,676

Current assets
Debtors 6 4,370 524
Cash at bank and in hand 35,865 18,019
40,235 18,543
Creditors
Amounts falling due within one year 7 390,431 437,150
Net current liabilities (350,196 ) (418,607 )
Total assets less current liabilities 160,480 92,069

Capital and reserves
Called up share capital 8 100 100
Retained earnings 160,380 91,969
Shareholders' funds 160,480 92,069

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2022 and were signed on its behalf by:



Mr N J Allen - Director


New Wealth Property Limited (Registered number: 06513151)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. Statutory information

New Wealth Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. Employees and directors

The average number of employees during the year was 1 (2021 - 1 ) .

New Wealth Property Limited (Registered number: 06513151)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 April 2021
and 31 March 2022 532
Depreciation
At 1 April 2021
and 31 March 2022 532
Net book value
At 31 March 2022 -
At 31 March 2021 -

5. Investment property
Total
£   
Fair value
At 1 April 2021
and 31 March 2022 510,676
Net book value
At 31 March 2022 510,676
At 31 March 2021 510,676

6. Debtors: amounts falling due within one year
2022 2021
£    £   
Other debtors 4,370 524

7. Creditors: amounts falling due within one year
2022 2021
£    £   
Bank loans and overdrafts 363,455 363,455
Taxation and social security 16,593 4,820
Other creditors 10,383 68,875
390,431 437,150

8. Called up share capital


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary 1 100 100