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Registration number: 14524484

Newsells Park Tech Ltd

Filleted Financial Statements

for the Period from 5 December 2022 to 31 December 2023

 

Newsells Park Tech Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 4

 

Newsells Park Tech Ltd

(Registration number: 14524484)
Balance Sheet as at 31 December 2023

Note

2023
£

Current assets

 

Debtors

4

200,000

Creditors: Amounts falling due within one year

5

(28,021)

Total assets less current liabilities

 

171,979

Creditors: Amounts falling due after more than one year

5

(198,836)

Net liabilities

 

(26,857)

Capital and reserves

 

Called up share capital

1,000

Retained earnings

(27,857)

Shareholders' deficit

 

(26,857)

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 November 2024 and signed on its behalf by:
 

.........................................
M Cooper
Company secretary and director

 

Newsells Park Tech Ltd

Notes to the Financial Statements for the Period from 5 December 2022 to 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:
Estate Office
Newsells Park Stud
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.

Going concern

The company has the support of the ultimate controlling party such that the financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 26 November 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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Debtors

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

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

 

Newsells Park Tech Ltd

Notes to the Financial Statements for the Period from 5 December 2022 to 31 December 2023

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 directors) during the period, was 3.

4

Debtors

Current

2023
£

Prepayments

200,000

 

200,000

 

Newsells Park Tech Ltd

Notes to the Financial Statements for the Period from 5 December 2022 to 31 December 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Amounts owed to group undertakings

28,021

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

6

198,836

6

Loans and borrowings

Non-current loans and borrowings

2023
£

Other borrowings

198,836

7

Related party transactions

The company is adopting the small group exemption under FRS 102 section 1A and as such is not required to disclose any related party transactions with other wholly owned subsidiaries.

At the balance sheet date, the company owed the director £198,836 in relation to any interest free loan.

8

Parent and ultimate parent undertaking

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

 The ultimate controlling party is G F Smith-Bernal.