Registration number:
Newsells Park Estates Limited
for the Year Ended 31 December 2024
Newsells Park Estates Limited
(Registration number: 03994797)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
17,360,001 |
17,360,001 |
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Investment property revaluation reserve |
1,008,594 |
1,008,594 |
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Retained earnings |
(6,756,828) |
(6,372,554) |
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Shareholders' funds |
11,611,767 |
11,996,041 |
Approved and authorised by the
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Newsells Park Estates Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services relating to the rental of property on the estate in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The tax expense for the period comprises.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
Newsells Park Estates Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Land and buildings |
Straight line method over 40 years |
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Fixtures, Fittings & Equipment |
Straight line method over 5 years |
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Motor Vehicles |
Straight line method over 5 years |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Newsells Park Estates Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Freehold Property |
Land |
Properties under construction |
Fixtures and fittings |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2024 |
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- |
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Additions |
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- |
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- |
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Disposals |
- |
( |
- |
( |
- |
( |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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- |
- |
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Charge for the year |
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- |
- |
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Eliminated on disposal |
- |
- |
- |
( |
- |
( |
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At 31 December 2024 |
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- |
- |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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- |
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Newsells Park Estates Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Investment properties |
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2024 |
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At 1 January |
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At 31 December |
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The valuation of investment properties is provided by an independent valuer. The valuation took place on 18 May 2023.
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Debtors |
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Note |
2024 |
2023 |
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Trade debtors |
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- |
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Amounts owed by group undertakings |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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- |
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Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Newsells Park Estates Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Loans and borrowings |
Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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- |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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- |
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Other borrowings |
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The bank loans are secured against four properties that are held in fixed assets under freehold property.
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
There is a multilateral guarantee between Newsells Park Estates and Newsells Park Stud in relation to 2 loans held with Barclays Bank UK PLC.
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Related party transactions |
The company is adopting the small group exemption under FRS 102 section 1A with regard to the disclosure of group transactions.
Newsells Park Estates Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Key management personnel
Key management personnel are those having authority and responsibility for planning, controlling and directing
the activities of the Company.
Sales to companies where key management personnel are directors amounted to £700 (2023: £Nil).
At the balance sheet date the amount of £700 was owed by these companies (2023: £Nil).
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Other transactions with the director |
G F Smith-Bernal had a loan with the company.
As the balance sheet date, the amount owed to G F Smith-Bernal was £750,000 (2023: £250,000). The loan is interest free.
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Parent and ultimate parent undertaking |
The company's immediate parent is