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REGISTERED NUMBER: 02085910 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

NEWBROOK PROPERTIES LIMITED

NEWBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 02085910)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWBROOK PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr G Georgallis





REGISTERED OFFICE: Solar House
282 Chase Road
Southgate
London
N14 6NZ





REGISTERED NUMBER: 02085910 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certifed Accountants
Solar House
282 Chase Road
London
N14 6NZ

NEWBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 02085910)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment properties 4 5,820,178 5,820,178

CURRENT ASSETS
Debtors 5 282,066 53,963
Cash at bank 114,505 101,623
396,571 155,586
CREDITORS
Amounts falling due within one year 6 90,500 514,025
NET CURRENT ASSETS/(LIABILITIES) 306,071 (358,439 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,126,249

5,461,739

CREDITORS
Amounts falling due after more than one
year

7

(4,230,000

)

(3,790,000

)

PROVISIONS FOR LIABILITIES 8 (132,390 ) (132,390 )
NET ASSETS 1,763,859 1,539,349

CAPITAL AND RESERVES
Called up share capital 9 99 99
Retained earnings 10 1,763,760 1,539,250
SHAREHOLDERS' FUNDS 1,763,859 1,539,349

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 director acknowledges his 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.

NEWBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 02085910)

BALANCE SHEET - continued
31 MARCH 2023


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 director and authorised for issue on 28 July 2023 and were signed by:





Mr G Georgallis - Director


NEWBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 02085910)

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


1. STATUTORY INFORMATION

Newbrook 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.

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 amounts derived from rents charged to tenants during the year, service charges, and income from the hotel operation. Turnover is recognised at the date the rental period or the hotel stay.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

NEWBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 02085910)

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


4. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 5,820,178
NET BOOK VALUE
At 31 March 2023 5,820,178
At 31 March 2022 5,820,178

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2008 1,000,000
Valuation in 2010 (479,176 )
Valuation in 2011 403,397
Valuation in 2018 655,110
Cost 4,240,847
5,820,178

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

31.3.23 31.3.22
£    £   
Cost 4,240,847 4,240,847

Investment properties were valued on an open market basis on 31 March 2022 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 282,066 19,015
Other debtors - 34,948
282,066 53,963

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Rents in advance 16,380 16,380
Tax 1,923 -
Tenants deposits 14,355 14,355
Amounts due to related company - 407,840
Directors' current accounts - 68,850
Accrued expenses 57,842 6,600
90,500 514,025

NEWBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 02085910)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans more 5 yrs non-inst 4,230,000 3,750,000
Amounts due to related companies - 40,000
4,230,000 3,790,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 4,230,000 3,750,000
Amounts due to related companies - 40,000
4,230,000 3,790,000

The bank loans and overdraft are secured on the freehold properties.

8. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 132,390 132,390

Deferred
tax
£   
Balance at 1 April 2022 132,390
Balance at 31 March 2023 132,390

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
99 Ordinary shares £1 99 99

10. RESERVES


£

Distributable reserves316,818
Non-distributable reserves1,446,942
At 31 March 20231,763,760