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Registered number: 13689749 NEWTOWN ROAD LOANCO LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
NEWTOWN ROAD LOANCO LIMITED REGISTERED NUMBER: 13689749 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 4 | 8,973,006 |  | 7,427,937 |
Creditors: amounts falling due within one year | 5 | (9,167,448) |  | (7,612,862) |
Net current liabilities |  |  | (194,442) |  | (184,925)
Net liabilities |  |  | (194,442) |  | (184,925)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | (194,443) |  | (184,926)
|  |  | (194,442) |  | (184,925)
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
James Andrew McDaniel
Director
Date: 8 October 2025
The notes on pages 2 to 5 form part of these financial statements. Page 1
NEWTOWN ROAD LOANCO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Newtown Road Loanco Limited is a private company limited by shares and registered in England and Wales. The Company's registered number is 13689749. Its registered office is 50 Great Marlborough Street, London W1F 7JS. The principal activity of the Company is that of a financial intermediary. The Company's functional and presentational currency is GBP. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on the going concern basis which, inter alia, is based on the director's reasonable expectation that the Company has adequate resources to continue to operate as a going concern for at least twelve months from the date of approval. In making the assessment of the appropriateness of this basis, the director has considered the trading of the Company since the year end and the facilities that are either committed to the Company for a period of at least twelve months from the date of approval of the financial statements or which he considers will probably be available to the Company during such period. After careful consideration, the director considers that there are reasonable grounds to believe that the Company can be regarded as a going concern and, for this reason continues to adopt the going concern basis in preparing the Company’s financial statements.
| 2.3 | Revenue
Revenue consists of interest receivable and other fees. Interest receivable on loans and advances at amortised cost is calculated using the effective interest method which allocates interest, and direct and incremental costs, over the life of the assets. Revenue from other fees receivable, such as recharges, are measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.4 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 2
NEWTOWN ROAD LOANCO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.6 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Page 3
NEWTOWN ROAD LOANCO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.6 | Financial instruments (continued)
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
3. | Employees
| The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
4. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 8,971,751 | 7,418,948
| Prepayments and accrued income | 1,255 | 8,989
|  | 8,973,006 | 7,427,937
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NEWTOWN ROAD LOANCO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 53,242 | 56,122
| Amounts owed to group undertakings | 9,108,806 | 7,544,216
| Accruals | 5,400 | 12,524
|  | 9,167,448 | 7,612,862
6. | Related party transactions
| Meadow Debt Opportunities VII
|  | 2024 | 2023
|  | £ | £
| Balance brought forward | 7,418,947 | 6,147,477
| Interest transactions | 1,552,803 | 1,271,470
|  | 8,971,750 | 7,418,947
| On 26 November 2021, the Company commited to a loan facility with Meadow Debt Opportunities VII, the parent company, as the Lender. The shareholder loan is unsecured and incurs interest at a rate of 19%. During the year, the parent company also paid costs on behalf of the Company totalling £11,787 (2022: £19,871). At the year end, £137,056 (2022: £125,269) was due in respect of these costs.
7. | Controlling party
The Company's immediate parent is Meadow Debt Opportunities VII, registered in Cayman Islands. The ultimate controlling party is Meadow Recovery Fund, registered in Cayman Islands.
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