Company Registration No. 12293092 (England and Wales)
NEWBOROUGH INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
Celixir House
Stratford Business & Technology Park
Innovation Way, Banbury Road
Stratford-upon-Avon
Warwickshire
United Kingdom
CV37 7GZ
NEWBOROUGH INVESTMENTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
3 - 4
Notes to the financial statements
5 - 8
NEWBOROUGH INVESTMENTS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs K Perry
Mr C Williams
Company number
12293092
Registered office
Celixir House
Stratford Business & Technology Park
Innovation Way, Banbury Road
Stratford-upon-Avon
Warwickshire
United Kingdom
CV37 7GZ
Accountants
TC Group
Celixir House
Stratford Business & Technology Park
Innovation Way, Banbury Road
Stratford-upon-Avon
Warwickshire
United Kingdom
CV37 7GZ
NEWBOROUGH INVESTMENTS LIMITED
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -

The year has seen a continuing overhang on delays in exiting our Private Equity (P.E) investments mainly due to the continuing high refinance borrowing costs by corporations. Early indications are of this starting to ease in anticipation of a year end modest reduction. Three of our P.E companies have recently indicated targeting exits in 2025.

Based on our half yearly P.E investment reports seven evidenced a strong growth rate over the year, five modest and two a small loss.

Our portfolio continues to be well diversified, mainly UK but with five overseas.

Our majority shareholding in Codegest SA Friburg continues to diversify, whilst maintaining a strong portfolio in short term USA Treasuries, UK Gilts and secured PE investments and loans in partnership with NIL.

NIL are a Partner in the Heligan Group where we remain very involved with them in their growing expansion on Corporate Finance and Deference/Cyber activities.

One other significant event shortly after the year end was NIL taking a 75% shareholding stake and day to day management of the St John's, Lincoln village development involving some 200 new builds.

Chairman
7 August 2024
NEWBOROUGH INVESTMENTS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 3 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
24,472
25,004
Investments
4
1,030
1,030
25,502
26,034
Current assets
Debtors
6
17,935,487
17,243,972
Cash at bank and in hand
157,741
13,726
18,093,228
17,257,698
Creditors: amounts falling due within one year
7
(495,946)
(6,545)
Net current assets
17,597,282
17,251,153
Total assets less current liabilities
17,622,784
17,277,187
Creditors: amounts falling due after more than one year
8
(17,294,226)
(17,140,657)
Net assets
328,558
136,530
Capital and reserves
Called up share capital
6,061
6,061
Share premium account
11
11
Profit and loss reserves
322,486
130,458
Total equity
328,558
136,530
NEWBOROUGH INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 4 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 August 2024 and are signed on its behalf by:
Mrs K Perry
Director
Company registration number 12293092 (England and Wales)
NEWBOROUGH INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
1
Accounting policies
Company information

Newborough Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Celixir House, Stratford Business & Technology Park, Innovation Way, Banbury Road, Stratford-upon-Avon, Warwickshire, United Kingdom, CV37 7GZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

NEWBOROUGH INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 6 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
NEWBOROUGH INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
3
Tangible fixed assets
Freehold land and buildings
£
Cost
At 1 December 2022 and 30 November 2023
26,600
Depreciation and impairment
At 1 December 2022
1,596
Depreciation charged in the year
532
At 30 November 2023
2,128
Carrying amount
At 30 November 2023
24,472
At 30 November 2022
25,004
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1,030
1,030
5
Subsidiaries

Details of the company's subsidiaries at 30 November 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Codegest SA Friborg
Switzerland
Ordinary
75.15
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Codegest SA Friborg
9,418,656
(121,596)
NEWBOROUGH INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 8 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
17,927,268
17,243,972
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
8,219
-
0
Total debtors
17,935,487
17,243,972
7
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
52,853
193
Other creditors
443,093
6,352
495,946
6,545
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings
2,894,640
2,894,641
Other creditors
14,399,586
14,246,016
17,294,226
17,140,657
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