Newcombe Beard Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03680599 (England and Wales)

Newcombe Beard Limited

Financial Statements

for the Year Ended 31st December 2024

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

794

619

Investments

5

28,197

Investment property

6

4,800,000

4,828,991

4,828,816

CURRENT ASSETS

Debtors

7

95,171

104,504

Investments

8

402,164

1,741,784

Cash at bank and in hand

164,202

150,252

661,537

1,996,540

CREDITORS

Amounts falling due within one year

9

216,045

1,586,491

NET CURRENT ASSETS

445,492

410,049

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,274,483

5,238,865

CREDITORS

Amounts falling due after more than one
year

10

(35,104

)

(35,104

)

PROVISIONS FOR LIABILITIES

(169,243

)

(160,303

)

NET ASSETS

5,070,136

5,043,458

CAPITAL AND RESERVES

Called up share capital

11

6,907

Share premium

2,960,085

Retained earnings

2,103,144

2,076,466

SHAREHOLDERS' FUNDS

5,070,136

5,043,458

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 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 3rd September 2025 and were signed on its behalf by:

J I Beard - Director

1.	STATUTORY INFORMATION

Newcombe Beard Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03680599

Registered office:

2 Wichelstok Close

Swindon

Wiltshire

SN1 4ES

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.

The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about the group as a whole.

Turnover

Turnover is recognised on rentals receivable in the year, excluding VAT where applicable.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.

Plant and machinery - 20% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value with changes recognised in in profit or loss.

Taxation

Taxation for the year 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1st January 2024

3,585

Additions

670

At 31st December 2024

4,255

DEPRECIATION

At 1st January 2024

2,966

Charge for year

495

At 31st December 2024

3,461

NET BOOK VALUE

At 31st December 2024

794

At 31st December 2023

619

5.	FIXED ASSET INVESTMENTS

Investment

- Newcombe

Beard

(Land)

Limited

£

COST

At 1st January 2024

and 31st December 2024

2,037,252

PROVISIONS

At 1st January 2024

and 31st December 2024

2,009,055

NET BOOK VALUE

At 31st December 2024

28,197

At 31st December 2023

28,197

The following are subsidiaries of the company, both are registered in England and Wales and both are presently dormant.

The following information is given in their regard:

Name

Class of
shares

Holding

Aggregate
share capital
and reserves

Profit and
loss

£

Newcombe Beard (Land)
Limited

Ordinary

100%

28,197

-

E. W. Beard (Land) Limited

Ordinary

100%

9,457

-

The trade and assets of Newcombe Beard (Land) Limited were hived into the parent company as at 31st December 2009; following this the company has been dormant. Prior to becoming dormant, the principal activity of the company was property development and exploitation of commercial property.

E. W. Beard (Land) Limited continued to be dormant throughout the accounting periods ended 31 December 2024 and 31st December 2023. No value has been included within these financial statements for the above investment as the company has never traded.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

and 31st December 2024

4,800,000

NET BOOK VALUE

At 31st December 2024

4,800,000

At 31st December 2023

4,800,000

Investment properties comprise commercial and residential properties.

Fair value at 31st December 2024 is represented by:

£

Valuation in 2003

2,361,175

Valuation in 2008

(252,129

)

Valuation in 2011

367,005

Valuation in 2014

260,000

Valuation in 2015

424,570

Valuation in 2016

300,000

Valuation in 2020

(6,287

)

Valuation in 2021

575,000

Valuation in 2023

(1,021,733

)

Cost

1,792,399

4,800,000

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

2024

2023

£

Cost

1,792,399

Investment property was valued on an open market basis on 31st December 2024 by the directors .

7.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Trade debtors

41,933

39,846

Other debtors

46,331

57,751

88,264

97,597

Amounts falling due after more than one year:

Other debtors

6,907

Aggregate amounts

95,171

104,504

8.	CURRENT ASSET INVESTMENTS

2024

2023

£

Listed investments

402,164

1,741,784

Market value of listed investments at 31st December 2024 - £ 402,164 (2023 - £ 1,741,784 ).

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

719

2,823

Other creditors

215,326

1,583,668

216,045

1,586,491

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Amounts owed to group undertakings

28,197

Other creditors

6,907

35,104

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

4,158

Ordinary "A" shares

£1

4,158

2,749

Ordinary "C" shares

£1

2,749

6,907

2024

2023

Shares classified as debt

£

Allotted, called up and partly paid:

6,907

Preference shares of £1 each

6,907

The preference shares confer the right to an annual fixed cumulative dividend. The holder of a preference share is not entitled to vote on any written resolution or receive notice of or vote at any general meeting of the company. On a winding up or repayment of capital, the assets of the company remaining after paying and discharging the debts and liabilities of the company shall be applied to the preference shares in priority.

The company shall redeem the whole of the preference shares immediately after payment of the final preferential dividend in accordance with the Articles of Association. The shares are not redeemable at a premium.

Based on the conditions assigned to the preference shares they have been classified as a financial liability in the financial statements, as shown under other creditors falling due after more than one year.

The fixed cumulative dividend due on the preference shares is paid in arrears and included within creditors falling due within one year.