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REGISTERED NUMBER: 04382090 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

NEWSHIRE LIMITED

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NEWSHIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: R Stern
Y Reichman





SECRETARY: Y Reichman





REGISTERED OFFICE: 51 Lampard Grove
London
N16 6XA





REGISTERED NUMBER: 04382090 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,665 5,488
Investments 5 268,545 268,545
Investment property 6 3,053,701 2,949,160
3,326,911 3,223,193

CURRENT ASSETS
Debtors 7 282,074 18,561
Cash at bank 5,613 25,777
287,687 44,338
CREDITORS
Amounts falling due within one year 8 (624,763 ) (697,263 )
NET CURRENT LIABILITIES (337,076 ) (652,925 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,989,835

2,570,268

CREDITORS
Amounts falling due after more than one
year

9

(1,934,131

)

(1,543,759

)
NET ASSETS 1,055,704 1,026,509

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 12 364,542 364,542
Retained earnings 12 691,160 661,965
SHAREHOLDERS' FUNDS 1,055,704 1,026,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





R Stern - Director


NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Newshire 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.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the assets and liabilities which are required by FRS 102 to be stated at fair value.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022
and 28 February 2023 19,535
DEPRECIATION
At 1 March 2022 14,047
Charge for year 823
At 28 February 2023 14,870
NET BOOK VALUE
At 28 February 2023 4,665
At 28 February 2022 5,488

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 March 2022
and 28 February 2023 268,545
NET BOOK VALUE
At 28 February 2023 268,545
At 28 February 2022 268,545

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 2,949,160
Additions 104,541
At 28 February 2023 3,053,701
NET BOOK VALUE
At 28 February 2023 3,053,701
At 28 February 2022 2,949,160

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2017 364,542
Cost 2,689,159
3,053,701

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 5,073 18,561
Other debtors 277,001 -
282,074 18,561

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security 4,088 26,561
Other creditors 620,675 670,702
624,763 697,263

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 1,919,120 1,523,989
Other creditors 15,011 19,770
1,934,131 1,543,759

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,919,120 1,154,116

Repayable by instalments
Bank loan - 369,873
Other loans more 5yrs instal 15,011 19,770
15,011 389,643

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 1,919,120 1,523,989

1. Long term bank loan is secured by first charge over the company's investment property.

2. Under the bank loan, £15,011 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
4 Ordinary £1 2 2

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2022 661,965 364,542 1,026,507
Profit for the year 29,195 29,195
At 28 February 2023 691,160 364,542 1,055,702