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COMPANY REGISTRATION NUMBER: 07886101
Catesby Estates (Newark) Limited
Unaudited Financial Statements
30 September 2024
Catesby Estates (Newark) Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Officers and professional advisers
1
Directors' report
2
Statement of financial position
3
Notes to the financial statements
5
Catesby Estates (Newark) Limited
Officers and Professional Advisers
The board of directors
RA Coppell
DL Wood
Company secretary
Urban&Civic (Secretaries) Limited
Registered office
50 New Bond Street
London
W1S 1BJ
Accountants
BDO LLP
Chartered accountants
55 Baker Street
London
W1U 7EU
Catesby Estates (Newark) Limited
Directors' Report
Year ended 30 September 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 September 2024 .
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.
Directors
The directors who served the company during the year were as follows:
RA Coppell
DL Wood
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption. The directors have taken advantage of the small company exemption from providing a strategic report under section 414B of the Companies Act 2006.
This report was approved by the board of directors on 24 February 2025 and signed on behalf of the board by:
DL Wood
Director
Registered office:
50 New Bond Street
London
W1S 1BJ
Catesby Estates (Newark) Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Fixed assets
Investments
5
2,002
2,002
Current assets
Debtors
6
100
100
Creditors: amounts falling due within one year
7
( 2,002)
( 2,002)
-------
-------
Net current liabilities
( 1,902)
( 1,902)
-------
-------
Total assets less current liabilities
100
100
----
----
Net assets
100
100
----
----
Capital and reserves
Called up share capital
100
100
----
----
Shareholders funds
100
100
----
----
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Catesby Estates (Newark) Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 24 February 2025 , and are signed on behalf of the board by:
DL Wood
Director
Company registration number: 07886101
The company has not traded since incorporation and therefore no statement of income and retained earnings has been presented. The company made neither a profit or a loss during the period and had no other recognised gains or losses.
Catesby Estates (Newark) Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 50 New Bond Street, Lonodon W1S 1BJ. The company acts principally as an investment holding company. It is responsible for co-ordinating the activities of its property development and investment subsidiaries .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as its subsidiary undertakings are included by full consolidation in the consolidated financial statements of Urban&Civic plc. These financial statements therefore present information about the company as an individual undertaking and not about its group.
Going concern
Catesby Estates (Newark) Limited (the Company) is reliant on funding provided by Urban&Civic plc and fellow Group undertakings (the Group). Given Urban&Civic plc has provided a letter of support confirming that it shall continue to provide such support for the foreseeable future, and for a period of at least 12 months from the signing of these financial statements, the Directors consider it reasonable to rely on the continuation of this financing in making their assessment of the ability of the Company to continue as a going concern. The Directors have considered the ability of the Group to give the necessary support. Disclosures are given in the Group financial statements of Urban&Civic plc regarding its ability to continue as a going concern. Based on the Group forecasts and the assurance from Urban&Civic plc the Directors consider that the Company has adequate resources for a period in excess of 12 months from the date of approval of these financial statements and accordingly have concluded that it is appropriate for the Company to prepare its own financial statements on a going concern basis.
Valuation of investments
Investments held as fixed assets are stated at cost less any provision for impairment.
Disclosure exemptions
In preparing the financial statements of this company, advantage has been taken of the following disclosure exemptions as permitted by FRS102: - the requirements of Section 7 Statement of Cash flows; - the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); - the requirements of Section 11 Financial Instruments paragraph 11.39 to 11.48A; and - the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Urban&Civic Plc as at 30 September 2024 and these financial statements may be obtained from Companies House.
Judgements and key sources of estimation uncertainty
The company makes certain estimates and assumptions regarding the future. These judgements and estimates affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates are continually evaluated based on historical experience and expectations of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and assumptions. In preparing these financial statements, the directors have made the following judgements and estimates: Investment impairment Management have considered whether there are indicators of impairment of the company's investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and, where it is a component of a larger cash generating unit, the viability and expected future performance of that unit. No investment impairment was recognised in either the current or prior year.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and subsequently at amortised cost or their recoverable amount. Impairment provisions are recognised when there is objective evidence (such as significant financial difficulties on the part of the counterparty or default or significant delay in payment) that the Company will be unable to collect all of the amounts due under the terms receivable. The amount of such a provision is the difference between the net carrying amount and the present value of the future expected cash flows associated with the impaired receivable. For trade debtors, which are reported net, such provisions are recorded in a separate allowance account with the loss being recognised within administrative expenses. On confirmation that the trade debtor will not be collectable the gross carrying value of the asset is written off against the associated provision.
Financial liabilities
Financial liabilities including trade creditors, other creditors, accruals and amounts due to Group undertakings are originally recorded at fair value and subsequently stated at amortised cost under the effective interest method.
4. Operating profit/(loss)
Auditors' remuneration was borne by another group company in the current and prior year.
The company has no employees other than the directors who did not receive any remuneration (2023: £nil).
5. Investments
Shares in group undertakings
£
Cost
At 1 October 2023 and 30 September 2024
2,002
-------
Carrying amount
At 30 September 2024
2,002
-------
At 30 September 2023
2,002
-------
6. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
100
100
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
2,002
2,002
-------
-------
Amounts owed to other group companies are unsecured, have no fixed date of repayment and are repayable on demand .
8. Related party transactions
The company has taken advantage of the exemption allowed by FRS 102 Section 33, 'Related Party Disclosures', not to disclose any transactions with entities that are included in the consolidated financial statements of Urban&Civic plc and are 100% owned.
9. Controlling party
The company's immediate parent undertaking is Catesby Strategic Land Limited, a company incorporated in England and Wales. The ultimate parent undertaking of the company is the Wellcome Trust, exercising control through its corporate trustee, The Wellcome Trust Limited. The largest Group which consolidate the results of the Company are those of Urban&Civic plc. The results of Urban&Civic plc are not consolidated at a higher level. The Wellcome Trust holds a portfolio of investments, which are accounted for at fair value through profit or loss in its financial statements. Copies of the Wellcome Trust Annual Report and Financial Statements are available from Wellcome Trust's website (www.wellcome.org/news-and-reports/reports).