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REGISTERED NUMBER: 13316102 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2024

FOR

NEWGATE PROPERTY HOLDINGS LTD

NEWGATE PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 13316102)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWGATE PROPERTY HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mr D Rustambekov





REGISTERED OFFICE: Flat 11 Dorchester Court
Buckingham Road
London
E18 2NG





REGISTERED NUMBER: 13316102 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
Chartered Accountants
Pharmacy Chambers
High Street
Wadhurst
East Sussex
TN5 6AP

NEWGATE PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 13316102)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 734,207 719,972

CURRENT ASSETS
Debtors 6 15,703 15,311
Cash at bank 2,770 3,762
18,473 19,073
CREDITORS
Amounts falling due within one year 7 415,217 384,512
NET CURRENT LIABILITIES (396,744 ) (365,439 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,463

354,533

CREDITORS
Amounts falling due after more than one
year

8

390,000

390,000
NET LIABILITIES (52,537 ) (35,467 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (52,637 ) (35,567 )
SHAREHOLDERS' FUNDS (52,537 ) (35,467 )

NEWGATE PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 13316102)

BALANCE SHEET - continued
30 APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





Mr D Rustambekov - Director


NEWGATE PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 13316102)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Newgate Property Holdings Ltd 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.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost

All fixed assets are initially recorded at cost.

NEWGATE PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 13316102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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 balance sheet date.


NEWGATE PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 13316102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The accounts have been prepared on a going concern basis not withstanding the excess of current liabilities over current assets. The group has confirmed their intention to continue their support to the company for the foreseeable future.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

NEWGATE PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 13316102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 710,254 17,243 4,351 6,564 738,412
Additions - 2,783 816 - 3,599
Reclassification/transfer - - 6,564 (6,564 ) -
At 30 April 2024 710,254 20,026 11,731 - 742,011
DEPRECIATION
At 1 May 2023 14,205 1,724 870 1,641 18,440
Charge for year - 1,725 1,844 - 3,569
Charge written back (14,205 ) - - - (14,205 )
Reclassification/transfer - - 1,641 (1,641 ) -
At 30 April 2024 - 3,449 4,355 - 7,804
NET BOOK VALUE
At 30 April 2024 710,254 16,577 7,376 - 734,207
At 30 April 2023 696,049 15,519 3,481 4,923 719,972

Freehold property is shown at the valuation at the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,129 -
VAT - 3,981
Deferred tax asset 12,574 7,430
Prepayments and accrued income - 3,900
15,703 15,311

NEWGATE PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 13316102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 684
Amounts owed to group undertakings 286,190 275,500
PAYE and social security 2,653 2,380
VAT 9,103 -
Other creditors 109,880 105,097
Accruals and deferred income 7,391 851
415,217 384,512

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans over 5 years 390,000 390,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 390,000 390,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 390,000 390,000

The bank loans are secured by charges on freehold property held by the company.

10. DEFERRED TAX
£   
Balance at 1 May 2023 (7,430 )
Provided during year (5,144 )
Balance at 30 April 2024 (12,574 )

NEWGATE PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 13316102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

12. RELATED PARTY DISCLOSURES

Included in other creditors is a balance of £277,082 (2023: £266,482) due to Newgate Partners LLP, an entity with shared members. The funds were realised by the LLP by way of finance secured against assets held.

Included in other creditors is a balance of £9,108 (2023: £9,018) due to Newgate Partnership Ltd, the parent company. This amount is interest free and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Newgate Partnership Ltd.