Company No: 14358883 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		30.09.2023
		£		£
Fixed assets
Intangible assets	3	203,502		0
Tangible assets	4	634,374		0
		837,876		0
Current assets
Debtors	5	843,521		0
Cash at bank and in hand		7,596		100
		851,117		100
Creditors: amounts falling due within one year	6	( 805,446)		0
Net current assets		45,671		100
Total assets less current liabilities		883,547		100
Net assets		883,547		100
Capital and reserves
Called-up share capital	7	1,000		100
Share premium account		730,197		0
Profit and loss account		152,350		0
Total shareholders' funds		883,547		100

For the financial period ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Newcourt Business Park Limited (registered number: 14358883) were approved and authorised for issue by the Board of Directors on 15 December 2025. They were signed on its behalf by:

Mr A S Cork Director

M P D Cork Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Newcourt Business Park Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Newcourt Barton, Topsham, Exeter, EX3 0DB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS 102.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The company has extended its accounting period to 31 March 2025 in order to align its financial year end with that of the other unincorporated businesses and close companies related with the shareholders.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of rental income and recharged costs in the ordinary course of the company's activities. Turnover is shown net of value added tax.

Turnover is adjusted for deferred income to ensure that income invoiced in advance of services being provided is deferred and recognised in the appropriate period.

Interest income

Interest income is recognised over time based on the amount outstanding and the effective interest rate.

Employee benefits

Defined contribution schemes
A defined contribution scheme is a pension plan which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the scheme does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution schemes are recognised as employee benefit expense when they fall due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Business Combination

On 28 February 2024 the trade and assets of an unincorporated business was transferred to Newcourt Business Park Limited. The company has issued shares in consideration for the business transfer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill, being the amount paid in connection with the business transfer dated 28 February 2024, represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	0 - 50 years straight line
Leasehold improvements	2 % reducing balance
Plant and machinery	10 % reducing balance
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	Period from 01.10.2023 to 31.03.2025		Year ended 30.09.2023
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	1		0

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 October 2023	0		0
Additions	228,227		228,227
At 31 March 2025	228,227		228,227
Accumulated amortisation
At 01 October 2023	0		0
Charge for the financial period	24,725		24,725
At 31 March 2025	24,725		24,725
Net book value
At 31 March 2025	203,502		203,502
At 30 September 2023	0		0

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Office equipment		Total
	£		£		£		£		£
Cost
At 01 October 2023	0		0		0		0		0
Additions	135,005		407,063		121,620		2,336		666,024
At 31 March 2025	135,005		407,063		121,620		2,336		666,024
Accumulated depreciation
At 01 October 2023	0		0		0		0		0
Charge for the financial period	3,750		12,212		14,916		772		31,650
At 31 March 2025	3,750		12,212		14,916		772		31,650
Net book value
At 31 March 2025	131,255		394,851		106,704		1,564		634,374
At 30 September 2023	0		0		0		0		0

5. Debtors

	31.03.2025		30.09.2023
	£		£
Trade debtors	3,546		0
Other debtors	839,975		0
	843,521		0

6. Creditors: amounts falling due within one year

	31.03.2025		30.09.2023
	£		£
Trade creditors	13,051		0
Amounts owed to directors	650,696		0
Accruals and deferred income	6,806		0
Corporation tax	58,400		0
Deferred tax liability	12,590		0
Other taxation and social security	24,134		0
Other creditors	39,769		0
	805,446		0

7. Called-up share capital

	31.03.2025		30.09.2023
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary Shares shares of £ 1.00 each (30.09.2023: 100 shares of £ 1.00 each)	1,000		100

During the period, 900 Ordinary were allotted with an aggregate value of £900 in exchange for the company's interest in the Newcourt Business Park. The Ordinary shares carry full voting, dividends and capital rights.

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	31.03.2025		30.09.2023
	£		£
within one year	30,000		0
between one and five years	120,000		0
after five years	270,000		0
Total future minimum lease payments under non-cancellable operating leases	420,000		0

The company has entered into a lease agreement with its directors over the use of the business park land. The lease term is over a period of 15 years commencing on 28 February 2024. The lease payment is £30,000 per annum.

9. Related party transactions

Transactions with the entity's directors

	31.03.2025		30.09.2023
	£		£
Amount due to the directors	648,197		0

During the period the directors have a loan with the company. No interest is payable on the balance and the loan is repayable on demand.

Other related party transactions

	31.03.2025		30.09.2023
	£		£
Amounts due from Newcourt Gulls Limited	239,975		0

During the period, the company have a loan with Newcourt Gulls Limited. No interest is payable on the balance and the loan is repayable on demand.