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REGISTERED NUMBER: 11002153 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

NEWBORN PROPERTIES LIMITED

NEWBORN PROPERTIES LIMITED (REGISTERED NUMBER: 11002153)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NEWBORN PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr C Fernandes
Mrs T Fernandes





REGISTERED OFFICE: Mayfield
20 Hall Road
Wallington
Surrey
SM6 0RT





REGISTERED NUMBER: 11002153 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY

NEWBORN PROPERTIES LIMITED (REGISTERED NUMBER: 11002153)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,800 26,345
Investment property 5 11,400,000 15,240,000
11,416,800 15,266,345

CURRENT ASSETS
Debtors 6 13,366 17,170
Cash at bank 431,251 379,747
444,617 396,917
CREDITORS
Amounts falling due within one year 7 318,674 225,586
NET CURRENT ASSETS 125,943 171,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,542,743

15,437,676

CREDITORS
Amounts falling due after more than one year 8 (1,400,000 ) (1,600,000 )

PROVISIONS FOR LIABILITIES (502,103 ) (1,248,768 )
NET ASSETS 9,640,640 12,588,908

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Share premium Account 6,836,867 6,836,867
Fair value reserve 10 2,112,044 5,323,694
Retained earnings 689,729 426,347
9,640,640 12,588,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:



Mrs T Fernandes - Director


NEWBORN PROPERTIES LIMITED (REGISTERED NUMBER: 11002153)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Newborn Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents gross rent receivable in the normal course of the company's business.

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 - 25% reducing balance
Motor vehicles - 20% on cost
Computer equipment - 3 years straight line

Investment property
Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit or loss account.

Financial instruments
Financial assets and financial liabilities are recognised in the Company’s balance sheet when the Company becomes a party to the contractual provisions of the instrument.

Loans and borrowings
Loans and borrowings are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

NEWBORN PROPERTIES LIMITED (REGISTERED NUMBER: 11002153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 15,732 48,990 6,217 70,939
Additions - - 3,341 3,341
At 31 March 2023 15,732 48,990 9,558 74,280
DEPRECIATION
At 1 April 2022 10,480 29,394 4,720 44,594
Charge for year 1,313 9,798 1,775 12,886
At 31 March 2023 11,793 39,192 6,495 57,480
NET BOOK VALUE
At 31 March 2023 3,939 9,798 3,063 16,800
At 31 March 2022 5,252 19,596 1,497 26,345

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 15,240,000
Additions 539,815
Disposals (600,000 )
Impairments (3,779,815 )
At 31 March 2023 11,400,000
NET BOOK VALUE
At 31 March 2023 11,400,000
At 31 March 2022 15,240,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 2,609,045
Valuation in 2022 3,963,417
Valuation in 2023 (3,779,815 )
Cost 8,607,353
11,400,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,402 9,595
Other debtors 11,964 7,575
13,366 17,170

NEWBORN PROPERTIES LIMITED (REGISTERED NUMBER: 11002153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,282 911
Taxation and social security 66,482 17,339
Other creditors 247,910 207,336
318,674 225,586

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,400,000 1,600,000

Amounts falling due in more than five years:

Repayable by instalments
Bank Loans due after more than
5 years 1,400,000 1,600,000
1,400,000 1,600,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,400,000 1,600,000

Bank loans are secured by a legal charge over the investment properties of the company.

10. RESERVES
Fair
value
reserve
£   
At 1 April 2022 5,323,694
Reclassification (3,211,650 )

At 31 March 2023 2,112,044

11. RELATED PARTY DISCLOSURES

Included in the creditors, as at the year end is £136,684 (2021: £130,350), an amount owed to the directors of the company. There are no specific terms of repayment.