REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
ASHCOURT PROPERTIES (NEWLAND) LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Fixtures and fittings | - |
Computer equipment | - |
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 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Assets | Fixtures |
Freehold | under | and | Computer |
property | construction | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 November 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
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 |
Amounts owed by group undertakings |
Amounts owed by associates |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by associated companies |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to associates | 2,612,457 | 476,851 |
Tax |
Social security and other taxes |
Pension fund | - | 7,667 |
Advance rents received | 93,720 | 37,935 |
Directors' current accounts | 618,362 | 618,362 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Other loans - 2-5 years |
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 |
Other loans |
Hire purchase contracts | - | 58,623 |
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: | £ | £ |
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. |