Company Registration No. 13126531 (England and Wales)
New Willow Properties Ltd
Unaudited accounts
for the year ended 31 March 2024
New Willow Properties Ltd
Unaudited accounts
Contents
New Willow Properties Ltd
Company Information
for the year ended 31 March 2024
Directors
Ounas Hussain
Zahra Arif
Company Number
13126531 (England and Wales)
Registered Office
3 Osborn Road
Birmingham
B11 1PA
England
Accountants
JABR
376 Walsall Road
Birmingham
B42 2LX
New Willow Properties Ltd
Statement of financial position
as at 31 March 2024
Investment property
507,000
492,500
Cash at bank and in hand
1,285
899
Creditors: amounts falling due within one year
(135,912)
(137,519)
Net current liabilities
(134,627)
(136,620)
Total assets less current liabilities
372,373
355,880
Creditors: amounts falling due after more than one year
(310,293)
(310,293)
Provisions for liabilities
Deferred tax
(11,370)
(8,615)
Called up share capital
100
100
Profit and loss account
50,610
36,872
Shareholders' funds
50,710
36,972
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by
Ounas Hussain
Director
Company Registration No. 13126531
New Willow Properties Ltd
Notes to the Accounts
for the year ended 31 March 2024
New Willow Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 13126531. The registered office is 3 Osborn Road, , Birmingham, B11 1PA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 April 2023
492,500
Net gain from fair value adjustments
14,500
The directors of the company measure the fair value of investment properties held at each reporting date based on readily available market data.
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
547
34
Loans from directors
133,408
136,693
New Willow Properties Ltd
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
310,293
310,293
The bank loan is secured by a fixed and floating charge over the company's assets.
7
Transactions with related parties
During the year the company repaid loans of £3,285 to the directors of the company (see note 5). The loan is repayable on demand and interest-free.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).