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FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

NEW ENGLISH POOLE LIMITED

NEW ENGLISH POOLE LIMITED (REGISTERED NUMBER: 03273870)






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


NEW ENGLISH POOLE LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTORS: Mr S Justice
Mr S A Justice
Mrs C Justice





SECRETARY: Mrs C Justice





REGISTERED OFFICE: 56 Honeysuckle Lane
Creekmoor
Poole
Dorset
BH17 7YZ





REGISTERED NUMBER: 03273870 (England and Wales)






NEW ENGLISH POOLE LIMITED (REGISTERED NUMBER: 03273870)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 2,773,500 1,940,000

CURRENT ASSETS
Stocks 5 - 537,405
Debtors 6 274,981 302,706
Cash at bank and in hand 363,410 327,549
638,391 1,167,660
CREDITORS
Amounts falling due within one year 7 (468,686 ) (391,149 )
NET CURRENT ASSETS 169,705 776,511
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,943,205

2,716,511

PROVISIONS FOR LIABILITIES 8 (21,756 ) (24,135 )
NET ASSETS 2,921,449 2,692,376

CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 89,752 128,890
Retained earnings 2,831,695 2,563,484
SHAREHOLDERS' FUNDS 2,921,449 2,692,376

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 13 November 2023 and were signed on its behalf by:





Mr S Justice - Director


NEW ENGLISH POOLE LIMITED (REGISTERED NUMBER: 03273870)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

New English Poole 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about New English Poole Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover relates to property rental income and sales of properties.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell less any provision for impairment.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Investment properties
The investment properties are re-valued annually. Surpluses or deficits are transferred to the investment revaluation reserve. Deficits in excess of prior revaluation surpluses on the same property are charged to the profit and loss account. Depreciation is not provided.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,940,000
Additions 1,034,750
Revaluations (41,517 )
Impairments (159,733 )
At 31 March 2023 2,773,500
NET BOOK VALUE
At 31 March 2023 2,773,500
At 31 March 2022 1,940,000

The investment property additions were transferred from stock at market value under normal market conditions.

NEW ENGLISH POOLE LIMITED (REGISTERED NUMBER: 03273870)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 2,773,500

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,832,707 1,797,957

The investment properties were valued on an open market basis on 31 March 2023 by the directors .

5. STOCKS

20232022
££

Properties held for rental and resale-537,405

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 5,988 2,759
Other debtors and prepayments 20,911 15,531
Other loans 4,100 3,736
Loans to participators tax recoverable 2,186 34,377
Directors' current accounts 81,096 87,823
114,281 144,226

Amounts falling due after more than one year:
Other loans 134,344 129,938
Loans to participators tax recoverable 26,356 28,542
160,700 158,480

Aggregate amounts 274,981 302,706

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,216 4,734
Amounts owed to group undertakings 303,470 311,971
Taxation and social security 107,397 14,575
Other creditors 52,603 59,869
468,686 391,149

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 21,756 24,135

NEW ENGLISH POOLE LIMITED (REGISTERED NUMBER: 03273870)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 24,135
Provided/(released) in year (2,379 )
Balance at 31 March 2023 21,756

Deferred tax represents the estimated tax arising on the uplift in valuation of the investment property.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Revaluation
reserve
£   
At 1 April 2022 128,890
Unrealised surplus/(deficit) on investment
property revaluation

(39,138

)


At 31 March 2023 89,752

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr S A Justice
Balance outstanding at start of year 87,823 95,398
Amounts advanced 1,773 1,925
Amounts repaid (8,500 ) (9,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 81,096 87,823

Loans to the aforementioned Director are unsecured and repayable on demand. Interest is charged on the loan at a rate of 2% per annum.

12. PARENT COMPANY

The company is controlled by New English Limited by virtue of its interest in 100% of the issued share capital. The registered office of New English Limited is 56 Honeysuckle Lane, Creekmoor, Poole, Dorset, BH17 7YZ.