Company registration number 09203177 (England and Wales)
NEW ERA PROPERTY SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
NEW ERA PROPERTY SOLUTIONS LIMITED
COMPANY INFORMATION
Directors
Mr R W T Gannon
Mrs L A Gannon
Company number
09203177
Registered office
First Floor
27 Howsell Road
Malvern
WR14 1TF
Accountants
Property Tax People Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank
1-3 Broad St
Hereford
HR4 9BA
NEW ERA PROPERTY SOLUTIONS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
NEW ERA PROPERTY SOLUTIONS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NEW ERA PROPERTY SOLUTIONS LIMITED FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of New Era Property Solutions Limited for the year ended 31 August 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of New Era Property Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of New Era Property Solutions Limited and state those matters that we have agreed to state to the board of directors of New Era Property Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than New Era Property Solutions Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that New Era Property Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of New Era Property Solutions Limited. You consider that New Era Property Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of New Era Property Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Property Tax People Limited
2 April 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
NEW ERA PROPERTY SOLUTIONS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,406
4,928
Current assets
Debtors
4
145,788
95,049
Cash at bank and in hand
39,026
68,756
184,814
163,805
Creditors: amounts falling due within one year
5
(74,479)
(86,760)
Net current assets
110,335
77,045
Total assets less current liabilities
113,741
81,973
Creditors: amounts falling due after more than one year
6
(30,442)
(39,311)
Provisions for liabilities
8
(318)
-
0
Net assets
82,981
42,662
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss reserves
81,981
41,662
Total equity
82,981
42,662

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

NEW ERA PROPERTY SOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 2 April 2025 and are signed on its behalf by:
Mr R W T Gannon
Mrs L A Gannon
Director
Director
Company registration number 09203177 (England and Wales)
NEW ERA PROPERTY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
1
Accounting policies
Company information

New Era Property Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, 27 Howsell Road, Malvern, England, WR14 1TF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings and equipment
20% on cost
Computer equipment
20% on cost
Motor vehicles
25% on reducing balance
Website
20% on cost
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

NEW ERA PROPERTY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
11
NEW ERA PROPERTY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
3
Tangible fixed assets
Fixtures, fittings and equipment
Computer equipment
Motor vehicles
Website
Total
£
£
£
£
£
Cost
At 1 September 2023 and 31 August 2024
2,418
7,519
2,500
3,291
15,728
Depreciation and impairment
At 1 September 2023
1,776
5,108
625
3,291
10,800
Depreciation charged in the year
236
817
469
-
0
1,522
At 31 August 2024
2,012
5,925
1,094
3,291
12,322
Carrying amount
At 31 August 2024
406
1,594
1,406
-
0
3,406
At 31 August 2023
642
2,411
1,875
-
0
4,928
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,739
12,237
Other debtors
142,049
82,812
145,788
95,049
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,556
5,556
Trade creditors
21,544
22,002
Taxation and social security
16,815
8,730
Other creditors
30,564
50,472
74,479
86,760
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Loans and overdrafts
30,442
39,311
NEW ERA PROPERTY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
31,945
37,500
Other loans
7,372
10,624
39,316
48,124
Bank loans are secured by way of a fixed and floating charge over all assets of the company and a government-backed guarantee.
Other loans are secured by way of a fixed and floating charge over all assets of the company.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
318
-
0
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary of £1 each
500
500
500
500
B Ordinary of £1 each
500
500
500
500
1,000
1,000
1,000
1,000
10
Ultimate controlling party

The ultimate controlling party is Mr R W T Gannon and Mrs L A Gannon.

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