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REGISTERED NUMBER: 04382090 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

NEWSHIRE LIMITED

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NEWSHIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: R Stern
Y Reichman





SECRETARY: Y Reichman





REGISTERED OFFICE: 51 Lampard Grove
London
N16 6XA





REGISTERED NUMBER: 04382090 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,965 4,665
Investments 5 268,545 268,545
Investment property 6 3,074,501 3,053,701
3,347,011 3,326,911

CURRENT ASSETS
Debtors 7 1,000,067 282,074
Cash at bank 8,995 5,613
1,009,062 287,687
CREDITORS
Amounts falling due within one year 8 (1,351,622 ) (624,763 )
NET CURRENT LIABILITIES (342,560 ) (337,076 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,004,451

2,989,835

CREDITORS
Amounts falling due after more than one
year

9

(1,929,808

)

(1,934,131

)
NET ASSETS 1,074,643 1,055,704

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 12 364,542 364,542
Retained earnings 12 710,099 691,160
SHAREHOLDERS' FUNDS 1,074,643 1,055,704

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:





R Stern - Director


NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Newshire 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the assets and liabilities which are required by FRS 102 to be stated at fair value.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 (2023 - NIL).

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023
and 29 February 2024 19,535
DEPRECIATION
At 1 March 2023 14,870
Charge for year 700
At 29 February 2024 15,570
NET BOOK VALUE
At 29 February 2024 3,965
At 28 February 2023 4,665

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 March 2023
and 29 February 2024 268,545
NET BOOK VALUE
At 29 February 2024 268,545
At 28 February 2023 268,545

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 3,053,701
Additions 20,800
At 29 February 2024 3,074,501
NET BOOK VALUE
At 29 February 2024 3,074,501
At 28 February 2023 3,053,701

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2017 364,542
Cost 2,709,959
3,074,501

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 482 5,073
Other debtors 999,585 277,001
1,000,067 282,074

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 5,968 4,088
Other creditors 1,345,654 620,675
1,351,622 624,763

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 1,919,120 1,919,120
Other creditors 10,688 15,011
1,929,808 1,934,131

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,919,120 1,919,120

Repayable by instalments
Other loans more 5yrs instal 10,688 15,011

10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 1,919,120 1,919,120

1. Long term bank loan is secured by first charge over the company's investment property.

2. Under the bank loan, £10,688 last year, then capped at 2.5% afterwards and backed by HM Government.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
4 Ordinary £1 2 2

NEWSHIRE LIMITED (REGISTERED NUMBER: 04382090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2023 691,160 364,542 1,055,702
Profit for the year 20,831 20,831
Dividends (1,892 ) (1,892 )
At 29 February 2024 710,099 364,542 1,074,641

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £1,892 were paid to the directors .