Newark Conservative Property - Limited company accounts 25.1

REGISTERED NUMBER: 00095778 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

NEWARK CONSERVATIVE PROPERTY

COMPANY LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Other Comprehensive Income

4

Balance Sheet

5

Notes to the Financial Statements

7

DIRECTORS:

Ms H G Andrew

M D Beaumont CBE

Miss J V Miller

SECRETARY:

P S Ingall

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

00095778 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

The directors present their report with the financial statements of the company for the year ended 31st December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2024 to the date of this report.

Ms H G Andrew

M D Beaumont CBE

Miss J V Miller

Other changes in directors holding office are as follows:

P S Ingall - resigned 30th May 2024

D J Lloyd - resigned 30th May 2024

D S Willson - resigned 22nd August 2024

Mrs L E Dales - appointed 30th May 2024

Mrs P Rainbow - appointed 22nd August 2024

K W Thompson - appointed 4th October 2024 - resigned 30th December 2024

Mrs L E Dales and Mrs P Rainbow ceased to be directors after 31st December 2024 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P S Ingall - Secretary

11th July 2025

TURNOVER

214

193

Administrative expenses

214

193

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

Tax on profit

4

-

PROFIT FOR THE FINANCIAL YEAR

-

PROFIT FOR THE YEAR

-

OTHER COMPREHENSIVE INCOME

Revaluation of freehold property

-

335,000

Income tax relating to other comprehensive
income

-

(142,244

)

OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

-

192,756

TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

-

192,756

FIXED ASSETS

Tangible assets

5

1,835,000

CURRENT ASSETS

Debtors

6

180

CREDITORS

Amounts falling due within one year

7

180

NET CURRENT LIABILITIES

-

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,835,000

PROVISIONS FOR LIABILITIES

8

327,472

NET ASSETS

1,507,528

CAPITAL AND RESERVES

Called up share capital

9

300

Revaluation reserve

10

1,493,236

Retained earnings

10

13,992

SHAREHOLDERS' FUNDS

1,507,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 11th July 2025 and were signed on its behalf by:

Miss J V Miller - Director

1.	STATUTORY INFORMATION

Newark Conservative Property Company Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

In the opinion of the directors the freehold property is maintained in a state of repair such that its anticipated residual value is expected to be no less than its Balance Sheet value, therefore the annual charge for depreciation would be nil.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

31/12/24

31/12/23

£

Directors' remuneration

-

4.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31st December 2024 nor for the year ended 31st December 2023.

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31st December 2024.

31/12/23

Gross

Tax

Net

£

Revaluation of freehold property

335,000

(142,244

)

192,756

5.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1st January 2024

and 31st December 2024

1,835,000

NET BOOK VALUE

At 31st December 2024

1,835,000

At 31st December 2023

1,835,000

Cost or valuation at 31st December 2024 is represented by:

Freehold

property

£

Valuation in 1992

315,708

Valuation in 2006

70,000

Valuation in 2019

1,100,000

Valuation in 2023

335,000

Cost

14,292

1,835,000

If freehold property had not been revalued it would have been included at the following historical cost:

31/12/24

31/12/23

£

Cost

14,292

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

Other debtors

180

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

Other creditors

180

8.	PROVISIONS FOR LIABILITIES

31/12/24

31/12/23

£

Deferred tax

327,472

Deferred

tax

£

Balance at 1st January 2024

327,472

Balance at 31st December 2024

327,472

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

30

Ordinary shares

£10

300

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1st January 2024

13,992

1,493,236

1,507,228

Profit for the year

-

At 31st December 2024

13,992

1,493,236

1,507,228

11.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st December 2024 (2023 - nil).

12.	CAPITAL COMMITMENTS

31/12/24

31/12/23

£

Contracted but not provided for in the

financial statements

-

13.	RELATED PARTY DISCLOSURES

The freehold property is occupied rent free by Newark Conservative Association and Newark Conservative Club Limited. The cost of insurance is borne directly in agreed proportions by Newark Conservative Club Limited and Newark Conservative Association and is consequently not reflected in these accounts.

14.	ULTIMATE CONTROLLING PARTY

Of the 30 issued £10 ordinary shares, 15 are held by the Trustees of Newark Conservative Association and 15 are held by Newark Conservative Club Limited. Consequently there is no overall controlling party.