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REGISTERED NUMBER: 09344171 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ASHCOURT PROPERTIES (NEWLAND) LIMITED

ASHCOURT PROPERTIES (NEWLAND) LIMITED (REGISTERED NUMBER: 09344171)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ASHCOURT PROPERTIES (NEWLAND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: R J N Bousfield
D M Boak
A J K Bousfield
K J Bousfield





SECRETARY: R J N Bousfield





REGISTERED OFFICE: Ashcourt Group
Foster Street
Hull
East Yorkshire
HU8 8BT





REGISTERED NUMBER: 09344171 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

ASHCOURT PROPERTIES (NEWLAND) LIMITED (REGISTERED NUMBER: 09344171)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 30,622,430 30,353,669

CURRENT ASSETS
Debtors 5 10,403,419 10,521,751
Cash at bank 70,067 361,099
10,473,486 10,882,850
CREDITORS
Amounts falling due within one year 6 8,890,927 12,125,397
NET CURRENT ASSETS/(LIABILITIES) 1,582,559 (1,242,547 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,204,989

29,111,122

CREDITORS
Amounts falling due after more than one
year

7

(18,971,000

)

(16,420,115

)

PROVISIONS FOR LIABILITIES (2,029,814 ) (2,035,478 )
NET ASSETS 11,204,175 10,655,529

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 6,878,038 6,874,095
Retained earnings 4,326,037 3,781,334
SHAREHOLDERS' FUNDS 11,204,175 10,655,529

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

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

ASHCOURT PROPERTIES (NEWLAND) LIMITED (REGISTERED NUMBER: 09344171)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 31 July 2024 and were signed on its behalf by:





K J Bousfield - Director


ASHCOURT PROPERTIES (NEWLAND) LIMITED (REGISTERED NUMBER: 09344171)

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

1. STATUTORY INFORMATION

Ashcourt Properties (Newland) 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue
Revenue relates to rents received at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax, other taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% on cost

It is the opinion of the directors that the net realisable value of freehold properties is significantly in excess of their net book value.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ASHCOURT PROPERTIES (NEWLAND) LIMITED (REGISTERED NUMBER: 09344171)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Assets Fixtures
Freehold under and Computer
property construction fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 November 2022 26,630,572 3,690,764 37,386 36,846 30,395,568
Additions 263,710 13,356 - - 277,066
At 31 October 2023 26,894,282 3,704,120 37,386 36,846 30,672,634
DEPRECIATION
At 1 November 2022 - - 33,643 8,256 41,899
Charge for year - - 936 7,369 8,305
At 31 October 2023 - - 34,579 15,625 50,204
NET BOOK VALUE
At 31 October 2023 26,894,282 3,704,120 2,807 21,221 30,622,430
At 31 October 2022 26,630,572 3,690,764 3,743 28,590 30,353,669

Cost or valuation at 31 October 2023 is represented by:

Assets Fixtures
Freehold under and Computer
property construction fittings equipment Totals
£    £    £    £    £   
Valuation in 2018 8,900,614 - - - 8,900,614
Cost 17,993,668 3,704,120 37,386 36,846 21,772,020
26,894,282 3,704,120 37,386 36,846 30,672,634

If freehold property had not been revalued it would have been included at the following historical cost:

31.10.23 31.10.22
£    £   
Cost 17,993,668 17,729,958

Freehold property was valued on an open market basis on 19 September 2018 by Allsop LLP .

ASHCOURT PROPERTIES (NEWLAND) LIMITED (REGISTERED NUMBER: 09344171)

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

5. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Trade debtors 10,953 14,019
Amounts owed by group undertakings 3,390,561 3,399,731
Amounts owed by associates 6,980,219 4,018,646
Other debtors 21,686 650
10,403,419 7,433,046

Amounts falling due after more than one year:
Amounts owed by associated companies - 3,088,705

Aggregate amounts 10,403,419 10,521,751

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts - 120,000
Other loans - 5,100,000
Hire purchase contracts - 58,623
Trade creditors 52,124 734,204
Amounts owed to group undertakings 4,902,065 4,888,593
Amounts owed to associates 2,612,457 476,851
Tax 30,832 28,916
Social security and other taxes 20,482 2,975
Pension fund - 7,667
Advance rents received 93,720 37,935
Directors' current accounts 618,362 618,362
Accrued expenses 560,885 51,271
8,890,927 12,125,397

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years - 140,000
Bank loans - 2-5 years - 16,280,115
Other loans - 2-5 years 18,971,000 -
18,971,000 16,420,115

ASHCOURT PROPERTIES (NEWLAND) LIMITED (REGISTERED NUMBER: 09344171)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans - 16,540,115
Other loans 18,971,000 5,100,000
Hire purchase contracts - 58,623
18,971,000 21,698,738

Loans are secured by fixed and floating charges against the company's freehold property.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary 1 100 100

10. RELATED PARTY DISCLOSURES

During the year the company was charged rent of £nil (2022: £250,000) by Ashcourt (Pocklington) Limited, a company controlled by one of the directors, K J Bousfield.

The company charged rents totalling £nil (2022: £250,000) to Ashcourt Group Limited, Ashcourt Aggregates Limited, and Ashcourt Concrete Limited, all of which are controlled by K J Bousfield. The company incurred management charges in the year of £287,846 (2022: £292,274) from Ashcourt Group Limited.

The company charged management fees of £65,000 (2022: £nil) to Swipe Living Limited a company in which K J Bousfield has a 50% shareholding. The company also charged management fees of £75,000 (2022: £nil) to Washington Accommodation Limited a company controlled by one of the directors, A J K Bousfield.