REGISTERED NUMBER: |
NEWCASTLE PROPCO LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2ND AUGUST 2022 TO 31ST AUGUST 2023 |
REGISTERED NUMBER: |
NEWCASTLE PROPCO LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2ND AUGUST 2022 TO 31ST AUGUST 2023 |
NEWCASTLE PROPCO LTD (REGISTERED NUMBER: 14271199) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2ND AUGUST 2022 TO 31ST AUGUST 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
NEWCASTLE PROPCO LTD |
COMPANY INFORMATION |
FOR THE PERIOD 2ND AUGUST 2022 TO 31ST AUGUST 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
923 Finchley Road |
London |
NW11 7PE |
NEWCASTLE PROPCO LTD (REGISTERED NUMBER: 14271199) |
ABRIDGED BALANCE SHEET |
31ST AUGUST 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
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. |
NEWCASTLE PROPCO LTD (REGISTERED NUMBER: 14271199) |
ABRIDGED BALANCE SHEET - continued |
31ST AUGUST 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 |
NEWCASTLE PROPCO LTD (REGISTERED NUMBER: 14271199) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2ND AUGUST 2022 TO 31ST AUGUST 2023 |
1. | STATUTORY INFORMATION |
Newcastle Propco Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have undertaken to provide all necessary funds from personal resources to ensure that the company is able to meet its short term liabilities. For this reason, the directors believe that it is appropriate to prepare these financial statements on a Going Concern Basis. |
Turnover |
Turnover of rental income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes. The following criteria must also be met before revenue is recognised: |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
* the amount of revenue can be measured reliably; |
* it is probable that the Company will receive the consideration due under the contract; |
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
* the costs incurred and the costs to complete the contract can be measured reliably. |
Tangible fixed assets |
Plant and machinery | - |
Furniture, fixtures & fittings | - |
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. |
Taxation |
Taxation for the period 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. |
NEWCASTLE PROPCO LTD (REGISTERED NUMBER: 14271199) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2ND AUGUST 2022 TO 31ST AUGUST 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 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 period 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. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
NEWCASTLE PROPCO LTD (REGISTERED NUMBER: 14271199) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2ND AUGUST 2022 TO 31ST AUGUST 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
Additions |
At 31st August 2023 |
DEPRECIATION |
Charge for period |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
Security has been given in respect of bank loans in the form of a fixed charge over the company's investment property. A floating charge has also been given over all the property and undertakings of the company. |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 100 |
100 Ordinary shares of £1 were issued during the period |