Registered number
04635705
New Waterton Park Limited
Filleted Accounts
30 June 2024
New Waterton Park Limited
Registered number: 04635705
Balance Sheet
as at 30 June 2024
Notes 2024 2023
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 1,885,279 1,885,279
1,885,280 1,885,280
Current assets
Debtors 5 40,012 152,085
Cash at bank and in hand 82,756 188,341
122,768 340,426
Creditors: amounts falling due within one year 6 (1,880) (52,468)
Net current assets 120,888 287,958
Total assets less current liabilities 2,006,168 2,173,238
Creditors: amounts falling due after more than one year 7 (222,971) (300,055)
Net assets 1,783,197 1,873,183
Capital and reserves
Called up share capital 1,045,067 1,049,591
Share premium 100 100
Capital redemption reserve 142,517 137,993
Profit and loss account 595,513 685,499
Shareholders' funds 1,783,197 1,873,183
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R M Walker
Director
Approved by the board on 6 February 2025
New Waterton Park Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rental income being rent receivable from tenants in respect of the lease of the company's investment property.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Investment properties are carried in the balance sheet at open market value, the value to be determined by the directors and supported by independent professional valuation as considred necessary. Depreciation on other tangible fixed assets has been provided at the following rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 4 to 20 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets
Goodwill:
Cost
At 1 July 2023 1
At 30 June 2024 1
Amortisation
At 30 June 2024 -
Net book value
At 30 June 2024 1
At 30 June 2023 1
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
Cost
At 1 July 2023 1,885,273 259,162 2,144,435
At 30 June 2024 1,885,273 259,162 2,144,435
Depreciation
At 1 July 2023 - 259,156 259,156
At 30 June 2024 - 259,156 259,156
Net book value
At 30 June 2024 1,885,273 6 1,885,279
At 30 June 2023 1,885,273 6 1,885,279
Land and buildings 2024 2023
Historical cost 1,885,273 1,885,273
Cumulative depreciation based on historical cost - -
1,885,273 1,885,273
Land and buildings comprise investment property and the directors are of the opinion that the open market value is not significantly different from cost.
5 Debtors 2024 2023
Trade debtors - 9,708
Deferred tax asset 18,873 7,021
Other loans - 135,238
Other debtors 21,139 118
40,012 152,085
Amounts due after more than one year included above 18,873 120,253
During the year loans to Waterton Park Golf Club Limited, amounting to £132,089, were written off.
6 Creditors: amounts falling due within one year 2024 2023
Mortgage loans - 25,000
Taxation and social security costs - 25,588
Other creditors 1,880 1,880
1,880 52,468
7 Creditors: amounts falling due after one year 2024 2023
Mortgage loans 222,971 300,055
8 Loans 2024 2023
Creditors include:
Secured mortgage loans 222,971 325,055
The mortgage facilities were re-negotiated during the year. The mortgage loan is secured by a first legal charge on the company property and associated assets, and a debenture on the assets and undertakings. The loan is interest only and repayable in full on 17 August 2026.
9 Controlling party
The company has no controlling party.
10 Other information
New Waterton Park Limited is a private company limited by shares and incorporated in England. Its registered office is:
Britannic House
Regent Street
Barnsley
South Yorkshire
S70 2EQ
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