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Registered number: 14121263
Newholdco Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
The Aylmer-Kelly Partnership LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14121263
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 868,227 868,227
Investments 5 646,117 646,117
1,514,344 1,514,344
CURRENT ASSETS
Debtors 6 121,775 89,863
Cash at bank and in hand 4,064 45,984
125,839 135,847
Creditors: Amounts Falling Due Within One Year 7 (93,408 ) (82,861 )
NET CURRENT ASSETS (LIABILITIES) 32,431 52,986
TOTAL ASSETS LESS CURRENT LIABILITIES 1,546,775 1,567,330
NET ASSETS 1,546,775 1,567,330
CAPITAL AND RESERVES
Called up share capital 8 1,514,344 1,514,344
Profit and Loss Account 32,431 52,986
SHAREHOLDERS' FUNDS 1,546,775 1,567,330
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Giles
Director
07/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Newholdco Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14121263 . The registered office is Unit 13a Meadow Works, Court Street, Trowbridge, BA14 8BR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Other Investments
Other investments represents investment in subsidiary undertakings, recognised at cost less impairment. The company has not prepared consolidated financial statements on the basis that it satisfies the criteria to qualify as a small group.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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Page 4
4. Investment Property
30 June 2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 868,227
5. Investments
Other
£
Cost
As at 1 July 2023 646,117
As at 30 June 2024 646,117
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 646,117
As at 1 July 2023 646,117
6. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Trade debtors 95 204
Prepayments and accrued income 177 3,156
Amounts owed by subsidiaries 121,503 86,503
121,775 89,863
7. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Trade creditors - 1
Corporation tax 8,115 14,686
VAT 2,492 2,513
Director's loan account 82,801 65,661
93,408 82,861
8. Share Capital
30 June 2024 30 June 2023
Allotted, called up and fully paid £ £
1,514,344 Ordinary Shares of £ 1.000 each 1,514,344 1,514,344
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Page 5
9. Related Party Transactions
As part of a wider restructuring exercise, the company transferred the investment in Giles Properties Limited to JonHoldco Limited. Giles Properties Limited was previously under the joint common control of Mr R Giles and the Director of JonHoldco Limited.
Page 5