REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
NEWBARNES LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
NEWBARNES LIMITED |
NEWBARNES LIMITED (REGISTERED NUMBER: 11494970) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
NEWBARNES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
NEWBARNES LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newbarnes Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Newbarnes Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Newbarnes Limited and state those matters that we have agreed to state to the director of Newbarnes Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newbarnes Limited and its director for our work or for this report. |
It is your duty to ensure that Newbarnes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Newbarnes Limited. You consider that Newbarnes Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Newbarnes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
NEWBARNES LIMITED (REGISTERED NUMBER: 11494970) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 10 | ( |
) |
( |
) |
The director acknowledges her 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. |
NEWBARNES LIMITED (REGISTERED NUMBER: 11494970) |
BALANCE SHEET - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
NEWBARNES LIMITED (REGISTERED NUMBER: 11494970) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Newbarnes Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rent receivable. |
Turnover is recognised when the company has a right to consideration. |
Tangible fixed assets |
Investment property |
Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
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 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. |
Interest receivable and interest payable |
Interest receivable and interest payable are recognised in profit or loss as they accrue, using the effective interest method. |
NEWBARNES LIMITED (REGISTERED NUMBER: 11494970) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The accounts have been prepared on a going concern basis., since in the opinion of the directors, it is appropriate to assume that the company will receive the continued support of its shareholders for a period in excess of twelve months from the date of approval of these financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 March 2023 |
DEPRECIATION |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
Additions |
Revaluations | 528,794 |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
NEWBARNES LIMITED (REGISTERED NUMBER: 11494970) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2023 | 528,794 |
Cost | 2,851,206 |
3,380,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to connected companies | 1,183,043 | 957,061 |
Directors' current accounts | 143,395 | 103,668 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans more 5 yrs non-inst | 1,646,243 | 1,531,699 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
NEWBARNES LIMITED (REGISTERED NUMBER: 11494970) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The loan is secured by a way of legal charge over the assets of Newbarnes Limited. The rate of interest on the loans range form 3.1% to 3.7%. The loans are repayable in full on between April 2027 and April 2042 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2022 | ( |
) |
Profit for the year |
At 31 March 2023 |
Retained earnings includes undistributable profit and loss reserve of £428,323 (2022: £Nil) relating to |
revaluation of investment properties. |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
At the year end the company owed £143,395 (2022: £103,668) to the director. The amount owed is repayable on demand. |
12. | RELATED PARTY DISCLOSURES |
At the year end, the company owed £1,065,527 (2022: £870,432) to 1st Care Limited, a company is which the director has a beneficial interest. The amount owed is repayable on demand. |
At the year end, the company owed £61,645 (2022: £36,256) to New Green Solutions Limited, a company in which the director's husband has a beneficial interest. The amount owed is repayable on demand. |
At the year end, the company owed £25,000 (2022: £25000) to Regency Investment Ltd, a company in which the director's has a beneficial interest. The amount owed is repayable on demand. |
13. | ULTIMATE CONTROLLING PARTY |
The director is the ultimate controlling party. |