Registered number
00482512
New Church Road Properties Limited
Filleted Accounts
31 March 2023
New Church Road Properties Limited
Registered number: 00482512
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 650,000 175,000
Investments 4 1,482,785 1,697,175
2,132,785 1,872,175
Current assets
Debtors 5 6,879 4,787
Cash at bank and in hand 188,375 67,807
195,254 72,594
Creditors: amounts falling due within one year 7 (34,715) (15,675)
Net current assets 160,539 56,919
Total assets less current liabilities 2,293,324 1,929,094
Provisions for liabilities 8 (169,617) (79,041)
Net assets 2,123,707 1,850,053
Capital and reserves
Called up share capital 202 202
Profit and loss account 2,123,505 1,849,851
Shareholder's funds 2,123,707 1,850,053
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Sacks
Director
Approved by the board on 20 October 2023
New Church Road Properties Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Revenue recognition for the rental income receivable is on a straight line basis over the term of the lease.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% straight line
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment property Plant and machinery etc Computer equipment Total
£ £ £ £
Cost
At 1 April 2022 175,000 7,729 11,519 194,248
Surplus on revaluation 475,000 - - 475,000
At 31 March 2023 650,000 7,729 11,519 669,248
Depreciation
At 1 April 2022 - 7,729 11,519 19,248
At 31 March 2023 - 7,729 11,519 19,248
Net book value
At 31 March 2023 650,000 - - 650,000
At 31 March 2022 175,000 - - 175,000
4 Investments
Other
investments
£
Cost
At 1 April 2022 1,697,175
Additions 494,599
Revaluation (26,792)
Disposals (682,197)
At 31 March 2023 1,482,785
5 Debtors 2023 2022
£ £
Trade debtors 3,879 4,189
Prepayments and accrued income - 598
Other debtors 3,000 -
6,879 4,787
6 Investments held as fixed assets 2023 2022
£ £
Fair value
Listed investments 1,369,244 1,587,847
Unlisted investments 113,541 109,328
1,482,785 1,697,175
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments (31,006) 7,595
Unlisted investments 4,213 (28,393)
(26,793) (20,798)
7 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 24,732 5,551
Accruals and deferred income 9,000 9,000
Other creditors 983 1,124
34,715 15,675
8 Provision for Liabilities 2023 2022
£ £
Deferred Tax 169,617 79,041
8 Other information
New Church Road Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
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