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REGISTERED NUMBER: 04004333















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

NEWBRIDGE PROPERTY SERVICES LIMITED

NEWBRIDGE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04004333)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWBRIDGE PROPERTY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: P W Lea
A E Lea
T W Lea





SECRETARY: P W Lea





REGISTERED OFFICE: 8 Sea Drive
Felpham
Bognor Regis
West Sussex
PO22 7NE





REGISTERED NUMBER: 04004333





ACCOUNTANTS: Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

NEWBRIDGE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04004333)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,336 3,120
Investment property 5 1,349,000 1,349,000
1,351,336 1,352,120

CURRENT ASSETS
Debtors 6 5,225 5,225
Cash at bank and in hand 32,058 5,085
37,283 10,310
CREDITORS
Amounts falling due within one year 7 656,979 636,075
NET CURRENT LIABILITIES (619,696 ) (625,765 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

731,640

726,355

PROVISIONS FOR LIABILITIES 122,291 122,291
NET ASSETS 609,349 604,064

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 518,818 518,818
Retained earnings 90,529 85,244
609,349 604,064

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

NEWBRIDGE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04004333)

BALANCE SHEET - continued
31 MAY 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 30 January 2025 and were signed on its behalf by:





P W Lea - Director


NEWBRIDGE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04004333)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Newbridge Property Services Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04004333 and the registered office address is 8 Sea Drive, Felpham, Bognor Regis, West Sussex, PO22 7NE.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rents received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which includes trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.


NEWBRIDGE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04004333)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and preference shares classed as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

Equity Instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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 balance sheet date.

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.

NEWBRIDGE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04004333)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Going concern
At the balance sheet date, the company had net current liabilities of £619,696 (2023 £625,765). The directors believe that the company, with their continued support, has adequate resources to continue to operate. The directors consider it appropriate to continue using the going concern basis in the preparation of the financial statements. The financial statements do not include any adjustments that would result if support from the directors was not continued.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - NIL ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 31,382
DEPRECIATION
At 1 June 2023 28,262
Charge for year 784
At 31 May 2024 29,046
NET BOOK VALUE
At 31 May 2024 2,336
At 31 May 2023 3,120

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 1,349,000
NET BOOK VALUE
At 31 May 2024 1,349,000
At 31 May 2023 1,349,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2023 640,516
Cost 708,484
1,349,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,225 5,225

NEWBRIDGE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04004333)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 1,190 453
Other creditors 655,789 635,622
656,979 636,075