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REGISTERED NUMBER: 04345943 (England and Wales)



















NEWBEAM LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 30 DECEMBER 2023






NEWBEAM LTD (REGISTERED NUMBER: 04345943)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


NEWBEAM LTD

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023







DIRECTORS: Mr J Low
Mrs M Low





SECRETARY: Mr J Low





REGISTERED OFFICE: First Floor
94 Stamford Hill
London
N16 6XS





REGISTERED NUMBER: 04345943 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

NEWBEAM LTD (REGISTERED NUMBER: 04345943)

BALANCE SHEET
30 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 2,265,830 2,265,830

CURRENT ASSETS
Debtors 6 458,502 100,030
Cash at bank 16,668 10,788
475,170 110,818
CREDITORS
Amounts falling due within one year 7 579,157 417,805
NET CURRENT LIABILITIES (103,987 ) (306,987 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,161,843

1,958,843

CREDITORS
Amounts falling due after more than one
year

8

(1,636,654

)

(1,443,996

)

PROVISIONS FOR LIABILITIES 10 (51,289 ) (51,289 )
NET ASSETS 473,900 463,558

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 398,268 398,268
Retained earnings 75,628 65,286
SHAREHOLDERS' FUNDS 473,900 463,558

NEWBEAM LTD (REGISTERED NUMBER: 04345943)

BALANCE SHEET - continued
30 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2023 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.

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 Board of Directors and authorised for issue on 4 April 2025 and were signed on its behalf by:





Mr J Low - Director


NEWBEAM LTD (REGISTERED NUMBER: 04345943)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

1. STATUTORY INFORMATION

Newbeam 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 on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

Turnover
Turnover is recognised at the fair value of the consideration receivable in respect of services provided in the normal course of business. The turnover of the company is represented by rents and charges receivable in respect of the company's investment portfolio.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Taxation
Taxation for the period 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.


NEWBEAM LTD (REGISTERED NUMBER: 04345943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 30 December 2023 2,265,830
NET BOOK VALUE
At 30 December 2023 2,265,830
At 31 December 2022 2,265,830

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the company's directors who have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.

The historical cost of investment properties at 31 December 2023 is £1,816,273.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,060 11,449
Other debtors 444,442 88,581
458,502 100,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,540 26,458
Taxation and social security 16,995 14,714
Other creditors 557,622 376,633
579,157 417,805

NEWBEAM LTD (REGISTERED NUMBER: 04345943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,636,654 1,443,996

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years by
non-instalments

1,608,432

1,089,530

Repayable by instalments
Bank loans more than 5 years by
instalments

10,062

255,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,641,194 1,470,454

The bank loans are secured by legal charges over the company's investment properties.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 51,289 51,289

Deferred
tax
£   
Balance at 1 January 2023 51,289
Balance at 30 December 2023 51,289

Deferred tax arises from the revaluation of investment properties.

11. RELATED PARTY DISCLOSURES

Other debtors include amounts aggregating £420,442 (2022: £64,581) due from a related company under common control.

Other creditors include amounts aggregating £402,311 (2022: £Nil) due to related companies under common control.