Registered number: 13887775
NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 29 FEBRUARY 2024
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NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
CONTENTS
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Statement of changes in equity
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Notes to the financial statements
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NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
FOR THE YEAR ENDED 29 FEBRUARY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newton Flotman Development Land Limited for the year ended 29 February 2024 which comprise the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the Board of directors of Newton Flotman Development Land Limited, as a body, in accordance with the terms of our engagement letter dated 7 March 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Newton Flotman Development Land Limited and state those matters that we have agreed to state to the Board of directors of Newton Flotman Development Land Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newton Flotman Development Land Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Newton Flotman Development Land Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Newton Flotman Development Land Limited. You consider that Newton Flotman Development Land Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Newton Flotman Development Land Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MA Partners LLP
7 The Close
Norwich
Norfolk
NR1 4DJ
8 November 2024
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NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
REGISTERED NUMBER: 13887775
BALANCE SHEET
AS AT 29 FEBRUARY 2024
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Stocks and work in progress
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
REGISTERED NUMBER: 13887775
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 November 2024.
The notes on pages 5 to 8 form part of these financial statements.
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NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024
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Shares issued during the period
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The notes on pages 5 to 8 form part of these financial statements.
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NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
Newton Flotman Development Land Limited is a private company limited by shares and incorporated in England and Wales, registration number 13887775. The registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.
The principal activity of the Company is that of property development, and it's activities are undertaken in Norwich, Norfolk.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis, as the directors consider that the Company, with their ongoing support, has sufficient working capital to continue trading for a period of at least twelve months frome the date of approval of the financial statements.
All borrowing costs are recognised in the Profit and loss account in the year in which they are incurred.
Stocks comprise of property in development and is stated at the lower of cost and net realisable value. Costs include all direct costs including borrowing costs. Net realisable value represents the estimated selling price less any further costs expected to be incurred to completion and disposal.
At each balance sheet date stocks are assessed for impairment. If stock is impaired, the carrying cost amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss acocunt.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments that are payable or repayable within one year, typically trade debtors and creditors, are measured at the undiscounted anount of the cash or other consideration expected to be paid or received.
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The average monthly number of employees, including the directors, during the year was as follows:
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NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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The following liabilities were secured:
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Details of security provided:
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The other loan is secured by fixed and floating charges over the land owned by the Company, which is part of the stocks and work in progress.
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NEWTON FLOTMAN DEVELOPMENT LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
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Allotted, called up and fully paid
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200 Ordinary shares of £1.00 each
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