Newsells Park Estates Limited 03994797 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the lease of land and buildings on the estate to the related group company, Newsells Park Stud Limited. The company also retains the ownership and use of a Manor House, located within the grounds. Digita Accounts Production Advanced 6.30.9574.0 true true 03994797 2023-01-01 2023-12-31 03994797 2023-12-31 03994797 core:CurrentFinancialInstruments 2023-12-31 03994797 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03994797 core:Non-currentFinancialInstruments 2023-12-31 03994797 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 03994797 core:FurnitureFittings 2023-12-31 03994797 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 03994797 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 03994797 core:MotorVehicles 2023-12-31 03994797 bus:SmallEntities 2023-01-01 2023-12-31 03994797 bus:Audited 2023-01-01 2023-12-31 03994797 bus:FullAccounts 2023-01-01 2023-12-31 03994797 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03994797 bus:RegisteredOffice 2023-01-01 2023-12-31 03994797 bus:Director1 2023-01-01 2023-12-31 03994797 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03994797 core:FurnitureFittings 2023-01-01 2023-12-31 03994797 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 03994797 core:LandBuildings 2023-01-01 2023-12-31 03994797 core:LandBuildings core:LongLeaseholdAssets 2023-01-01 2023-12-31 03994797 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03994797 core:MotorVehicles 2023-01-01 2023-12-31 03994797 1 2023-01-01 2023-12-31 03994797 countries:EnglandWales 2023-01-01 2023-12-31 03994797 2022-12-31 03994797 core:FurnitureFittings 2022-12-31 03994797 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 03994797 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 03994797 core:MotorVehicles 2022-12-31 03994797 2022-01-01 2022-12-31 03994797 2022-12-31 03994797 core:CurrentFinancialInstruments 2022-12-31 03994797 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03994797 core:Non-currentFinancialInstruments 2022-12-31 03994797 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 03994797 core:FurnitureFittings 2022-12-31 03994797 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 03994797 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 03994797 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 03994797

Newsells Park Estates Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Newsells Park Estates Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Newsells Park Estates Limited

(Registration number: 03994797)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

10,958,784

11,188,899

Investment property

5

1,250,000

1,250,000

 

12,208,784

12,438,899

Current assets

 

Debtors

6

33,653

35,438

Cash at bank and in hand

 

43,247

21,072

 

76,900

56,510

Creditors: Amounts falling due within one year

7

(39,643)

(46,163)

Net current assets

 

37,257

10,347

Total assets less current liabilities

 

12,246,041

12,449,246

Creditors: Amounts falling due after more than one year

7

(250,000)

-

Net assets

 

11,996,041

12,449,246

Capital and reserves

 

Called up share capital

17,360,001

17,360,001

Investment property revaluation reserve

1,008,594

1,008,594

Retained earnings

(6,372,554)

(5,919,349)

Shareholders' funds

 

11,996,041

12,449,246

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 August 2024
 

.........................................
G F Smith-Bernal
Director

 

Newsells Park Estates Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Newsells Park
Barkway
Royston
Hertfordshire
SG8 8DY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 15 August 2024 was Dean Blunden BFP FCA, who signed for and on behalf of UHY Ross Brooke.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services relating to the rental of property on the estate in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Newsells Park Estates Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Straight line method over 40 years

Fixtures, Fittings & Equipment

Straight line method over 5 years

Motor Vehicles

Straight line method over 5 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Newsells Park Estates Limited

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

4

Tangible assets

Freehold Property
£

Land
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

11,777,299

6,195,295

558,400

999

18,531,993

Additions

52,042

-

41,153

-

93,195

At 31 December 2023

11,829,341

6,195,295

599,553

999

18,625,188

Depreciation

At 1 January 2023

7,195,901

-

146,943

250

7,343,094

Charge for the year

218,713

-

104,397

200

323,310

At 31 December 2023

7,414,614

-

251,340

450

7,666,404

Carrying amount

At 31 December 2023

4,414,727

6,195,295

348,213

549

10,958,784

At 31 December 2022

4,581,398

6,195,295

411,457

749

11,188,899

 

Newsells Park Estates Limited

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

5

Investment properties

2023
£

At 1 January

1,250,000

At 31 December

1,250,000

The valuation of investment properties is provided by an independent valuer. The valuation took place on 18 May 2023.

6

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings

9

3,857

17,807

Prepayments

 

29,796

17,631

 

33,653

35,438

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

16,543

5,408

Amounts owed to group undertakings

3,000

12,000

Other creditors

20,100

28,755

39,643

46,163

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

250,000

-

 

Newsells Park Estates Limited

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

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

250,000

-

9

Related party transactions

The company is adopting the small group exemption under FRS 102 section 1A with regard to the disclosure of group transactions.

Other transactions with the director

G F Smith-Bernal had a loan with the company.

At the balance sheet date, the amount owed to G F Smith-Bernal was £250,000 (£Nil). The loan is interest free.

10

Parent and ultimate parent undertaking

The ultimate controlling party is G F Smith-Bernal.

 The company's immediate parent is Smith Bernal Family Holdings Ltd, incorporated in England and Wales.