REGISTERED NUMBER: 09483951 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Neswick Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P D Wrangham

REGISTERED OFFICE:

C/o Alpha Housing Services Ltd

1st Floor 1 Chartfield House

Castle Street

Taunton

Somerset

TA1 4AS

REGISTERED NUMBER:

09483951 (England and Wales)

ACCOUNTANTS:

A C Mole LLP

Stafford House

Blackbrook Park Avenue

Taunton

Somerset

TA1 2PX

FIXED ASSETS

Tangible assets

4

92,813

72,234

Investments

5

70,350

-

Investment property

6

3,935,000

2,644,134

4,098,163

2,716,368

CURRENT ASSETS

Debtors

7

5,304

2,325

Cash at bank

104,592

9,309

109,896

11,634

CREDITORS

Amounts falling due within one year

8

55,559

78,945

NET CURRENT ASSETS/(LIABILITIES)

54,337

(67,311

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,152,500

2,649,057

CREDITORS

Amounts falling due after more than one year

9

(2,843,901

)

(2,578,440

)

PROVISIONS FOR LIABILITIES

(297,146

)

-

NET ASSETS

1,011,453

70,617

CAPITAL AND RESERVES

Called up share capital

10

10

Undistributable reserve

10

906,181

-

Retained earnings

105,262

70,607

1,011,453

70,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 October 2025 and were signed by:

P D Wrangham - Director

1.	STATUTORY INFORMATION

Neswick Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover represents rents receivable, excluding Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

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

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.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. Having given due consideration to the estimates and assumptions that form part of the carrying amount of assets and liabilities within the financial statements, the directors are of the opinion that the only material judgements or estimates relate to the annual depreciation charge and deferred taxation.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimates useful economic lives and residual values of the assets. The useful economic lives and residual values are reviewed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(ii) Deferred Taxation

Management estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.

(iii) Fair value of investment properties

Management estimation is required to determine the fair value of the investment properties within the business. The fair value is based on market data for similar properties in the area and bank valuations when remortgages took place.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

75,981

Additions

25,661

At 31 March 2025

101,642

DEPRECIATION

At 1 April 2024

3,747

Charge for year

5,082

At 31 March 2025

8,829

NET BOOK VALUE

At 31 March 2025

92,813

At 31 March 2024

72,234

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

70,350

At 31 March 2025

70,350

NET BOOK VALUE

At 31 March 2025

70,350

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,644,134

Additions

87,539

Revaluations

1,203,327

At 31 March 2025

3,935,000

NET BOOK VALUE

At 31 March 2025

3,935,000

At 31 March 2024

2,644,134

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

1,203,327

Cost

2,731,673

3,935,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade debtors

4,859

1,382

Other debtors

445

943

5,304

2,325

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Bank loans and overdrafts

38,901

44,253

Trade creditors

8,891

12,352

Other creditors

7,767

22,340

55,559

78,945

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as restated

£

£

Bank loans

2,233,550

1,995,575

Other creditors

610,351

582,865

2,843,901

2,578,440

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due in more than 5

years

2,077,945

1,818,562

2,077,945

1,818,562

10.

RESERVES

Undistributable

reserve

£

Surplus on investment property revaluation

1,203,327

Transfer between reserves

(297,146

)

At 31 March 2025

906,181