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REGISTERED NUMBER: 07891240 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Newgate Assets Limited

Newgate Assets Limited (Registered number: 07891240)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Newgate Assets Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A J Fitzgerald
G J Waghorn
C S Giles





REGISTERED OFFICE: 6 Rowan Court
19 The Avenue
Beckenham
Kent
BR3 5LH





REGISTERED NUMBER: 07891240 (England and Wales)






Newgate Assets Limited (Registered number: 07891240)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 675,000 434,746

CURRENT ASSETS
Stocks - 21,328
Cash at bank 1,322 22,117
1,322 43,445
CREDITORS
Amounts falling due within one year 6 108,933 118,665
NET CURRENT LIABILITIES (107,611 ) (75,220 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

567,389

359,526

PROVISIONS FOR LIABILITIES 30,192 -
NET ASSETS 537,197 359,526

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 163,611 -
Retained earnings 373,486 359,426
SHAREHOLDERS' FUNDS 537,197 359,526

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

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

Newgate Assets Limited (Registered number: 07891240)

Balance Sheet - continued
31 December 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 20 August 2024 and were signed on its behalf by:





A J Fitzgerald - Director


Newgate Assets Limited (Registered number: 07891240)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Newgate Assets 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover
Turnover represents rent receivable and consultancy fees during the year.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable 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 balance sheet date.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 1 ) .

Newgate Assets Limited (Registered number: 07891240)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 434,746
Revaluations 193,803
Reclassification/transfer 46,451
At 31 December 2023 675,000
NET BOOK VALUE
At 31 December 2023 675,000
At 31 December 2022 434,746

The investment properties are valued by the directors on an open market existing use basis.
The historical cost of the investment properties amounts to £481,197 (2022: £434,746)

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 77,234 105,850
Taxation and social security 7,637 2,955
Other creditors 24,062 9,860
108,933 118,665

7. RESERVES
Fair
value
reserve
£   
Revaluation of investment properties 193,803
Deferred tax on revaluation (30,192 )

At 31 December 2023 163,611

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A J Fitzgerald.