IRIS Accounts Production v24.2.0.383 00095778 Board of Directors 1.1.23 31.12.23 31.12.23 the ownership of the premises occupied by Newark Conservative Association and Newark Conservative Club Limited. 0 0 false true false false true false 0 0 Ordinary shares 10.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh000957782022-12-31000957782023-12-31000957782023-01-012023-12-31000957782021-12-31000957782022-01-012022-12-31000957782022-12-3100095778ns15:EnglandWales2023-01-012023-12-3100095778ns14:PoundSterling2023-01-012023-12-3100095778ns10:Director12023-01-012023-12-3100095778ns10:CompanySecretary12023-01-012023-12-3100095778ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3100095778ns10:SmallEntities2023-01-012023-12-3100095778ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3100095778ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3100095778ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3100095778ns10:FullAccounts2023-01-012023-12-3100095778ns10:OrdinaryShareClass12023-01-012023-12-3100095778ns10:Director22023-01-012023-12-3100095778ns10:Director32023-01-012023-12-3100095778ns10:Director42023-01-012023-12-3100095778ns10:Director62023-01-012023-12-3100095778ns10:Director72023-01-012023-12-3100095778ns10:RegisteredOffice2023-01-012023-12-3100095778ns10:Director52023-01-012023-12-3100095778ns10:Director82023-01-012023-12-310009577812023-01-012023-12-310009577812022-01-012022-12-3100095778ns5:CurrentFinancialInstruments2023-12-3100095778ns5:CurrentFinancialInstruments2022-12-3100095778ns5:ShareCapital2023-12-3100095778ns5:ShareCapital2022-12-3100095778ns5:RevaluationReserve2023-12-3100095778ns5:RevaluationReserve2022-12-3100095778ns5:RetainedEarningsAccumulatedLosses2023-12-3100095778ns5:RetainedEarningsAccumulatedLosses2022-12-3100095778ns5:LandBuildings2022-12-3100095778ns5:LandBuildings2023-01-012023-12-3100095778ns5:LandBuildings2023-12-3100095778ns5:LandBuildings2022-12-3100095778ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3100095778ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3100095778ns5:DeferredTaxation2022-12-3100095778ns5:DeferredTaxation2023-12-3100095778ns10:OrdinaryShareClass12023-12-3100095778ns5:RetainedEarningsAccumulatedLosses2022-12-3100095778ns5:RevaluationReserve2022-12-3100095778ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 00095778 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED

NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED (REGISTERED NUMBER: 00095778)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Other Comprehensive Income 4

Balance Sheet 5

Notes to the Financial Statements 7


NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED

COMPANY INFORMATION
for the Year Ended 31st December 2023







DIRECTORS: Ms H G Andrew
M D Beaumont CBE
P S Ingall
D J Lloyd
D S Willson
Miss J V Miller





SECRETARY: P S Ingall





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 00095778 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED (REGISTERED NUMBER: 00095778)

REPORT OF THE DIRECTORS
for the Year Ended 31st December 2023

The directors present their report with the financial statements of the company for the year ended 31st December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report.

Ms H G Andrew
M D Beaumont CBE
P S Ingall
D J Lloyd

Other changes in directors holding office are as follows:

R T Lawson - resigned 23rd March 2023
D S Willson - appointed 23rd March 2023
Mrs R M Lockwood - resigned 23rd March 2023
Miss J V Miller - appointed 23rd March 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P S Ingall - Secretary


30th May 2024

NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED (REGISTERED NUMBER: 00095778)

INCOME STATEMENT
for the Year Ended 31st December 2023

31/12/23 31/12/22
Notes £    £   

TURNOVER 193 193

Administrative expenses 193 193
OPERATING PROFIT and
PROFIT BEFORE TAXATION - -

Tax on profit 4 - -
PROFIT FOR THE FINANCIAL YEAR - -

NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED (REGISTERED NUMBER: 00095778)

OTHER COMPREHENSIVE INCOME
for the Year Ended 31st December 2023

31/12/23 31/12/22
Notes £    £   

PROFIT FOR THE YEAR - -


OTHER COMPREHENSIVE INCOME
Revaluation of freehold property 335,000 -
Income tax relating to other comprehensive
income

(142,244

)

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

192,756

-
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

192,756

-

NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED (REGISTERED NUMBER: 00095778)

BALANCE SHEET
31st December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,835,000 1,500,000

CURRENT ASSETS
Debtors 6 180 180

CREDITORS
Amounts falling due within one year 7 180 180
NET CURRENT LIABILITIES - -
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,835,000

1,500,000

PROVISIONS FOR LIABILITIES 8 327,472 185,228
NET ASSETS 1,507,528 1,314,772

CAPITAL AND RESERVES
Called up share capital 9 300 300
Revaluation reserve 10 1,493,236 1,300,480
Retained earnings 10 13,992 13,992
SHAREHOLDERS' FUNDS 1,507,528 1,314,772

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

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

NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED (REGISTERED NUMBER: 00095778)

BALANCE SHEET - continued
31st December 2023


The financial statements have been prepared 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 30th May 2024 and were signed on its behalf by:





Miss J V Miller - Director


NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED (REGISTERED NUMBER: 00095778)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Newark Conservative Property Company 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.

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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
In the opinion of the directors the freehold property is maintained in a state of repair such that its anticipated residual value is expected to be no less than its Balance Sheet value, therefore the annual charge for depreciation would be nil.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

31/12/23 31/12/22
£    £   
Directors' remuneration - -

NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED (REGISTERED NUMBER: 00095778)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023

4. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31st December 2023 nor for the year ended 31st December 2022.

Tax effects relating to effects of other comprehensive income

31/12/23
Gross Tax Net
£    £    £   
Revaluation of freehold property 335,000 (142,244 ) 192,756

5. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1st January 2023 1,500,000
Revaluation during the year 335,000
At 31st December 2023 1,835,000
NET BOOK VALUE
At 31st December 2023 1,835,000
At 31st December 2022 1,500,000

Cost or valuation at 31st December 2023 is represented by:

Freehold
property
£   
Valuation in 1992 315,708
Valuation in 2006 70,000
Valuation in 2019 1,100,000
Valuation in 2023 335,000
Cost 14,292
1,835,000

If freehold property had not been revalued it would have been included at the following historical cost:

31/12/23 31/12/22
£    £   
Cost 14,292 14,292

NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED (REGISTERED NUMBER: 00095778)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Other debtors 180 180

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Other creditors 180 180

8. PROVISIONS FOR LIABILITIES
31/12/23 31/12/22
£    £   
Deferred tax 327,472 185,228

Deferred
tax
£   
Balance at 1st January 2023 185,228
Deferred tax on revaluation 142,244
Balance at 31st December 2023 327,472

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
30 Ordinary shares £10 300 300

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st January 2023 13,992 1,300,480 1,314,472
Profit for the year - -
Surplus on revaluation - 335,000 335,000
Deferred tax on revaluation - (142,244 ) (142,244 )
At 31st December 2023 13,992 1,493,236 1,507,228

11. CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st December 2023 (2022 - nil).

NEWARK CONSERVATIVE PROPERTY
COMPANY LIMITED (REGISTERED NUMBER: 00095778)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023

12. CAPITAL COMMITMENTS
31/12/23 31/12/22
£    £   
Contracted but not provided for in the
financial statements - -

13. RELATED PARTY DISCLOSURES

The freehold property is occupied rent free by Newark Conservative Association and Newark Conservative Club Limited. The cost of insurance is borne directly in agreed proportions by Newark Conservative Club Limited and Newark Conservative Association and is consequently not reflected in these accounts.

14. ULTIMATE CONTROLLING PARTY

Of the 30 issued £10 ordinary shares, 15 are held by the Trustees of Newark Conservative Association and 15 are held by Newark Conservative Club Limited. Consequently there is no overall controlling party.