0 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 703,715 703,715 703,715 266,708 54,536 770 33,600 286,874 286,874 266,708 xbrli:pure xbrli:shares iso4217:GBP 09546635 2022-04-01 2023-03-31 09546635 2023-03-31 09546635 2021-04-01 2022-03-31 09546635 2022-03-31 09546635 bus:Director1 2022-04-01 2023-03-31 09546635 core:WithinOneYear 2023-03-31 09546635 core:WithinOneYear 2022-03-31 09546635 core:AfterOneYear 2023-03-31 09546635 core:AfterOneYear 2022-03-31 09546635 core:ShareCapital 2023-03-31 09546635 core:ShareCapital 2022-03-31 09546635 core:OtherReservesSubtotal 2023-03-31 09546635 core:OtherReservesSubtotal 2022-03-31 09546635 core:RetainedEarningsAccumulatedLosses 2023-03-31 09546635 core:RetainedEarningsAccumulatedLosses 2022-03-31 09546635 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 09546635 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 09546635 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-03-31 09546635 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2023-03-31 09546635 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 09546635 core:Non-currentFinancialInstruments 2023-03-31 09546635 core:Non-currentFinancialInstruments 2022-03-31 09546635 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 09546635 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 09546635 bus:SmallEntities 2022-04-01 2023-03-31 09546635 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09546635 bus:FullAccounts 2022-04-01 2023-03-31 09546635 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09546635 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09546635 core:AfterOneYear 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 09546635
Newton Smith Property Ltd
Filleted Unaudited Financial Statements
For the year ended
31 March 2023
Newton Smith Property Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
703,715
703,715
Investments
6
286,874
266,708
---------
---------
990,589
970,423
Current assets
Debtors
7
180
180
Cash at bank and in hand
24,554
72,871
--------
--------
24,734
73,051
Creditors: amounts falling due within one year
8
129,169
88,972
---------
--------
Net current liabilities
104,435
15,921
---------
---------
Total assets less current liabilities
886,154
954,502
Creditors: amounts falling due after more than one year
9
284,946
286,398
Provisions
Taxation including deferred tax
4,704
13,105
---------
---------
Net assets
596,504
654,999
---------
---------
Capital and reserves
Called up share capital
100
100
Fair value reserve
22,078
47,279
Profit and loss account
574,326
607,620
---------
---------
Shareholders funds
596,504
654,999
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Newton Smith Property Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 3 July 2023 , and are signed on behalf of the board by:
Mr J W Smith
Director
Company registration number: 09546635
Newton Smith Property Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit J, South Cambridge Business Park Babraham Road, Sawston, Cambridge, CB22 3JH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents rents receivable, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investment property
Investment properties are shown at fair value. The gain or loss arising from the annual revaluation is recognised through profit and loss, with any unrealised gains at the balance sheet date being subsequently transferred to a separate non-distributable fair value reserve.
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to nil (2022: nil).
5. Tangible assets
Freehold property
£
Cost
At 1 April 2022 and 31 March 2023
703,715
---------
Depreciation
At 1 April 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
703,715
---------
At 31 March 2022
703,715
---------
Land and buildings comprise investment properties and have been valued at open market value as at the balance sheet date based on the directors' best estimates after taking into consideration professional and independent bank and property agents valuations. The historical cost of freehold investment properties is £695,750 (2022: £695,750).
6. Investments
Other investments other than loans
£
Cost
At 1 April 2022
266,708
Additions
54,536
Disposals
( 770)
Other movements
( 33,600)
---------
At 31 March 2023
286,874
---------
Impairment
At 1 April 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
286,874
---------
At 31 March 2022
266,708
---------
7. Debtors
2023
2022
£
£
Other debtors
180
180
----
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,452
1,415
Social security and other taxes
292
11,417
Other creditors
127,425
76,140
---------
--------
129,169
88,972
---------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
9,946
11,398
Other creditors
275,000
275,000
---------
---------
284,946
286,398
---------
---------
Loans totalling £275,000 (2022: £275,000) are secured by a legal charge over certain freehold property owned by Newton Smith Property Limited.