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REGISTERED NUMBER: 13291108 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

NEW PROPERTY VENTURES LTD

NEW PROPERTY VENTURES LTD (REGISTERED NUMBER: 13291108)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NEW PROPERTY VENTURES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: A B G Sapala
U Doyle





REGISTERED OFFICE: 21 Woodberry Road
Wickford
Essex
SS11 8XQ





REGISTERED NUMBER: 13291108 (England and Wales)





ACCOUNTANTS: AKS Accounting Services Limited
Chartered Certified Accountants
39 St. Annes Road
London Colney
St Albans
Hertfordshire
AL2 1LQ

NEW PROPERTY VENTURES LTD (REGISTERED NUMBER: 13291108)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 190,000 180,000

CURRENT ASSETS
Debtors 5 855 855
Cash at bank and in hand 18,432 38,170
19,287 39,025
CREDITORS
Amounts falling due within one year 6 39,218 58,718
NET CURRENT LIABILITIES (19,931 ) (19,693 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,069

160,307

CREDITORS
Amounts falling due after more than one year 7 (142,357 ) (142,357 )

PROVISIONS FOR LIABILITIES 9 (7,055 ) (5,155 )
NET ASSETS 20,657 12,795

CAPITAL AND RESERVES
Called up share capital 10 100 100
Non-distributable reserve 30,078 21,978
Retained earnings (9,521 ) (9,283 )
SHAREHOLDERS' FUNDS 20,657 12,795

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

NEW PROPERTY VENTURES LTD (REGISTERED NUMBER: 13291108)

STATEMENT OF FINANCIAL POSITION - continued
31ST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th November 2023 and were signed on its behalf by:





A B G Sapala - Director


NEW PROPERTY VENTURES LTD (REGISTERED NUMBER: 13291108)

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


1. STATUTORY INFORMATION

New Property Ventures Ltd 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.

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.

NEW PROPERTY VENTURES LTD (REGISTERED NUMBER: 13291108)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


NEW PROPERTY VENTURES LTD (REGISTERED NUMBER: 13291108)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022 180,000
Fair value adjustments 10,000
At 31st March 2023 190,000
NET BOOK VALUE
At 31st March 2023 190,000
At 31st March 2022 180,000

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2023 10,000
Cost 180,000
190,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 855 855

NEW PROPERTY VENTURES LTD (REGISTERED NUMBER: 13291108)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 39,218 58,718

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 142,357 142,357

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 142,357 142,357

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 142,357 142,357

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 7,055 5,155

Deferred
tax
£   
Balance at 1st April 2022 5,155
Provided during year 1,900
Balance at 31st March 2023 7,055

NEW PROPERTY VENTURES LTD (REGISTERED NUMBER: 13291108)

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


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100