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COMPANY REGISTRATION NUMBER: 13278959
PROPERTY PARTNERS NEWCASTLE LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDING
30 March 2023
PROPERTY PARTNERS NEWCASTLE LTD
STATEMENT OF FINANCIAL POSITION
30 March 2023
30 Mar 23
31 Mar 22
Note
£
£
£
£
CURRENT ASSETS
Stocks
63,263
220,766
Debtors
4
259,233
Cash at bank and in hand
3,185
997
---------
---------
325,681
221,763
CREDITORS: amounts falling due within one year
5
( 186,708)
( 179,866)
---------
---------
NET CURRENT ASSETS
138,973
41,897
---------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
138,973
41,897
CREDITORS: amounts falling due after more than one year
6
( 70,271)
---------
--------
NET ASSETS
68,702
41,897
---------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
68,602
41,797
--------
--------
SHAREHOLDERS FUNDS
68,702
41,897
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PROPERTY PARTNERS NEWCASTLE LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 March 2023
These financial statements were approved by the board of directors and authorised for issue on 21 February 2024 , and are signed on behalf of the board by:
J Moore
Director
Company registration number: 13278959
PROPERTY PARTNERS NEWCASTLE LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 APRIL 2022 TO 30 MARCH 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Naturally North, Unit 1 Killingworth Road, Newcastle Upon Tyne, NE3 1SY.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.
Income tax
Deferred Taxation is provided using the liability method on all timing differences that have originated but not reversed at the balance sheet date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
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.
4. DEBTORS
30 Mar 23
31 Mar 22
£
£
Other debtors
259,233
---------
----
5. CREDITORS: amounts falling due within one year
30 Mar 23
31 Mar 22
£
£
Corporation tax
16,656
9,947
Other creditors
170,052
169,919
---------
---------
186,708
179,866
---------
---------
6. CREDITORS: amounts falling due after more than one year
30 Mar 23
31 Mar 22
£
£
Bank loans and overdrafts
70,271
--------
----