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REGISTERED NUMBER: 05481807 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Newland Property Ltd

Newland Property Ltd (Registered number: 05481807)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Newland Property Ltd (Registered number: 05481807)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £ £
Fixed assets
Investment property 5 675,964 675,964

Current assets
Debtors 6 13,962 14,289
Cash at bank - 13,822
13,962 28,111
Creditors
Amounts falling due within one year 7 (143,145 ) (20,851 )
Net current (liabilities)/assets (129,183 ) 7,260
Total assets less current liabilities 546,781 683,224

Creditors
Amounts falling due after more than one
year

8

(286,850

)

(439,406

)
Net assets 259,931 243,818

Capital and reserves
Called up share capital 1,000 1,000
Fair value reserve 10 190,113 190,113
Retained earnings 68,818 52,705
259,931 243,818

Newland Property Ltd (Registered number: 05481807)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 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 10 November 2023 and were signed on its behalf by:





Mr P M Belfield - Director


Newland Property Ltd (Registered number: 05481807)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. Statutory information

Newland Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05481807

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention or historic cost modified by revaluation of financial assets and financial liabilities held at fair value through profit and loss, except for the financial instruments that are measured at their fair values at the end of each reporting period, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

The principal accounting policies adopted are set out below. All accounting policies have been applied consistently, other than where new policies have been adopted.

Going Concern
The director believes that the company is well placed to manage its financial risks successfully and has reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future and has therefore accordingly prepared these financial statements on a going concern basis.

Newland Property Ltd (Registered number: 05481807)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. See notes to the accounts for the carrying amount of tangible assets and the useful economic lives for each class of assets.

(ii) Taxation

The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with the previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority.

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

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.

Newland Property Ltd (Registered number: 05481807)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


Newland Property Ltd (Registered number: 05481807)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued
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.

4. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

5. Investment property
Total
£
Fair value
At 1 July 2022
and 30 June 2023 675,964
Net book value
At 30 June 2023 675,964
At 30 June 2022 675,964

Included within tangible fixed assets is an investment property included at its fair value of £675,964. This
value was ascertained externally by the director and the director of the entity deemed this valuation to be
appropriate as at 30 June 2023.

6. Debtors: amounts falling due within one year
30.6.23 30.6.22
£ £
Trade debtors 13,962 14,289

7. Creditors: amounts falling due within one year
30.6.23 30.6.22
£ £
Bank loans and overdrafts 6,000 6,000
Taxation and social security 14,167 9,267
Other creditors 122,978 5,584
143,145 20,851

Newland Property Ltd (Registered number: 05481807)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


8. Creditors: amounts falling due after more than one year
30.6.23 30.6.22
£ £
Bank loans 286,850 439,406

9. Secured debts

Security has been provided in respect of the bank loan, by way of a fixed debenture charge in favour of The Royal Bank of Scotland PLC over all assets of the company.

10. Reserves
Fair value
reserve
£
At 1 July 2022
and 30 June 2023 190,113

Fair value reserve - This reserve records the value of asset revaluations and fair value movements on assets
recognised in other comprehensive income, along with the gains and losses on the revaluation of investment
properties, which are non-distributable.
Retained earnings - This reserve records distributable retained earnings and accumulated losses.

11. Related party disclosures

No transactions were undertaken with the director or related parties such as are required to be disclosed under the Financial Reporting Standard 102, Section 1A.