Newcastle NE1 Limited 31/03/2025 iXBRL

Company registration number: 06500486

Newcastle NE1 Limited

Company limited by guarantee

Filleted financial statements

31 March 2025

Newcastle NE1 Limited

Company limited by guarantee

Contents

Directors responsibilities statement

Statement of financial position

Notes to the financial statements

Newcastle NE1 Limited

Company limited by guarantee

Directors responsibilities statement

Year ended 31 March 2025

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Newcastle NE1 Limited

Company limited by guarantee

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	6	268,027		222,169
		_______		_______
			268,027		222,169

Current assets
Debtors	7	184,111		240,463
Cash at bank and in hand		1,150,967		1,045,539
		_______		_______
		1,335,078		1,286,002
Creditors: amounts falling due
within one year	8	( 315,917)		( 208,903)
		_______		_______
Net current assets			1,019,161		1,077,099
			_______		_______
Total assets less current liabilities			1,287,188		1,299,268

			_______		_______
Net assets			1,287,188		1,299,268
			_______		_______

Capital and reserves
Profit and loss account	9		1,287,188		1,299,268
			_______		_______
Members funds			1,287,188		1,299,268
			_______		_______

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Stephen Patterson Adam Serfontein

Director Director

Company registration number: 06500486

Newcastle NE1 Limited

Company limited by guarantee

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Suite A8, Milburn House, Dean Street, Newcastle upon Tyne, NE1 1LE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company operates under a five year mandate which expired on 31 March 2024. A new 5 year mandate was awarded on 20 October 2023 which will expire on 31 March 2029. The directors are therefore satisified that funding will be in place to enable the company to continue to trade for the foreseeable future. As such, the financial statements are prepared on the going concern basis.

Income

Income represents BID levies collected on behalf of the company by Newcastle City Council and other sundry income relating to the company's activities, net of discounts and Value Added Tax. Bid levies due but not received are recognised to the extent that they are considered to be collectable.Income from public realm and other grants is recognised when the company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the amount can be measured reliably and is not deferred.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25 %	reducing balance
Fittings fixtures and equipment	-	25 %	reducing balance
Pontoons	-	3 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Limited by guarantee

The liability of each member is limited to an amount not exceeding £1 in the event of the Company being wound up while they are a member or within one year after they cease to be a member, for payment of the Company's debts and liabilities contracted before they ceased to be a member.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2024: 15 ).

Non executive directors are excluded from this figure.

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Pontoons	Total
	£	£	£	£
Cost
At 1 April 2024	133,599	27,387	195,732	356,718
Additions	118,791	3,594	-	122,385
Disposals	( 23,736)	-	-	( 23,736)
	_______	_______	_______	_______
At 31 March 2025	228,654	30,981	195,732	455,367
	_______	_______	_______	_______
Depreciation
At 1 April 2024	34,226	19,941	80,382	134,549
Charge for the year	50,092	2,761	5,872	58,725
Disposals	( 5,934)	-	-	( 5,934)
	_______	_______	_______	_______
At 31 March 2025	78,384	22,702	86,254	187,340
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	150,270	8,279	109,478	268,027
	_______	_______	_______	_______
At 31 March 2024	99,373	7,446	115,350	222,169
	_______	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	20,442	95,957
Other debtors	163,669	144,506
	_______	_______
	184,111	240,463
	_______	_______

Newcastle City Council collect the Business Improvement District levy on behalf of the company from all premises that are subject to Business Rates, within the NE1 post code area, with a rateable value of more than or equal to £20,000.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	112,880	130,403
Corporation tax	8,975	1,349
Social security and other taxes	16,744	16,183
Other creditors	177,318	60,968
	_______	_______
	315,917	208,903
	_______	_______

9. Reserves

Profit and loss accountThis reserve records retained earnings allocated to future projects and winding up costs in the event of a no vote.

10. Summary audit opinion

The auditor's report dated 11 December 2025 was unqualified.

The senior statutory auditor was Nicola Scarr for and on behalf of S & W Audit

11. Related party transactions

There were no related party transactions in the year.