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REGISTERED NUMBER: 10695791 (England and Wales)















NEW CONCEPT PROPERTY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






NEW CONCEPT PROPERTY LTD (REGISTERED NUMBER: 10695791)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEW CONCEPT PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Block
S Block
D J Cox





REGISTERED OFFICE: 11 Rosedene Gardens
Ilford
Essex
IG2 6YE





REGISTERED NUMBER: 10695791 (England and Wales)





ACCOUNTANTS: Howard Walters
Chartered Certified Accountants
11 Rosedene Gardens
Ilford
Essex
IG2 6YE

NEW CONCEPT PROPERTY LTD (REGISTERED NUMBER: 10695791)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,328,010 1,328,010

CURRENT ASSETS
Debtors 5 5,972 5,705
Cash at bank 6,907 16,103
12,879 21,808
CREDITORS
Amounts falling due within one year 6 1,111,695 867,680
NET CURRENT LIABILITIES (1,098,816 ) (845,872 )
TOTAL ASSETS LESS CURRENT LIABILITIES 229,194 482,138

CREDITORS
Amounts falling due after more than one
year

7

147,870

426,031
NET ASSETS 81,324 56,107

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 81,024 55,807
SHAREHOLDERS' FUNDS 81,324 56,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 CONCEPT PROPERTY LTD (REGISTERED NUMBER: 10695791)

BALANCE SHEET - continued
31 MARCH 2024


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 16 August 2024 and were signed on its behalf by:





A Block - Director


NEW CONCEPT PROPERTY LTD (REGISTERED NUMBER: 10695791)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

New Concept Property 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.

Turnover
Rents Receivable is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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.

There is no tax charge in the current period of account because the taxable losses brought forward from earlier years exceed the taxable profit in the current year.

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.

No deferred taxation has been provided as there are no gains or losses in the financial statements which give rise to a timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

NEW CONCEPT PROPERTY LTD (REGISTERED NUMBER: 10695791)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY

The directors have valued the investment properties at the year end and consider that their original costs equate to fair value and that therefore no surplus or deficit arises during the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 859 897
Other debtors 5,113 4,808
5,972 5,705

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 806
Taxation and social security 7,391 5,464
Other creditors 1,104,304 861,410
1,111,695 867,680

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 147,870 426,031

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 147,869 426,032

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 147,869 426,032

The loans are secured by way of mortgages over the investment properties.

The loans are on an interest only basis and repayable in 2043.