REGISTERED NUMBER:
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NEWSOME PROPERTIES (COVENTRY) LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH APRIL 2022 |
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REGISTERED NUMBER:
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NEWSOME PROPERTIES (COVENTRY) LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH APRIL 2022 |
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NEWSOME PROPERTIES (COVENTRY) LIMITED (REGISTERED NUMBER: 00882642) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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NEWSOME PROPERTIES (COVENTRY) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH APRIL 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Central Chambers |
45-47 Albert Street |
Rugby |
Warwickshire |
CV21 2SG |
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SOLICITORS: |
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The Old Bank |
353 Walsgrave Road |
Coventry |
CV2 4BG |
NEWSOME PROPERTIES (COVENTRY) LIMITED (REGISTERED NUMBER: 00882642) |
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BALANCE SHEET |
30TH APRIL 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
NEWSOME PROPERTIES (COVENTRY) LIMITED (REGISTERED NUMBER: 00882642) |
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BALANCE SHEET - continued |
30TH APRIL 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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NEWSOME PROPERTIES (COVENTRY) LIMITED (REGISTERED NUMBER: 00882642) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2022 |
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1. | STATUTORY INFORMATION |
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Newsome Properties (Coventry) Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
There are no significant judgements that have a material effect on the accounts nor any accounting estimates that have a high risk of causing a material adjustment in a future accounting period. |
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Turnover |
Turnover represents the invoiced amount of rents and service charges. The company is not registered for value added tax. |
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Tangible fixed assets |
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Investment property | - |
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Computer equipment | - |
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Investment property |
Investment property is carried at fair value. Revaluation surpluses or deficits are recognised in the income statement. Deferred taxation is provided on these gains and the net of revaluation and deferred tax movement transferred to a fair value reserve. |
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The directors review the property each year and adjust the carrying values where they believe that there is a material adjustment to the previous year. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
NEWSOME PROPERTIES (COVENTRY) LIMITED (REGISTERED NUMBER: 00882642) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2022 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Investment | Computer |
property | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st May 2021 |
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Revaluations |
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At 30th April 2022 |
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DEPRECIATION |
At 1st May 2021 |
and 30th April 2022 |
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NET BOOK VALUE |
At 30th April 2022 |
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At 30th April 2021 |
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Cost or valuation at 30th April 2022 is represented by: |
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Investment | Computer |
property | equipment | Totals |
£ | £ | £ |
Valuation in 1992 | 94,323 | - | 94,323 |
Valuation in 2013 | 45,000 | - | 45,000 |
Valuation in 2017 | 67,000 | - | 67,000 |
Valuation in 2022 | 28,000 | - | 28,000 |
Cost | 45,677 | 641 | 46,318 |
280,000 | 641 | 280,641 |
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If the freehold property had not been revalued it would have been included at the following historical cost: |
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2022 | 2021 |
£ | £ |
Cost | 45,677 | 45,677 |
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The freehold property was valued on fair value basis on 30th April 2022 by the directors of the company . |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Prepayments |
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NEWSOME PROPERTIES (COVENTRY) LIMITED (REGISTERED NUMBER: 00882642) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2022 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax payable |
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Other creditors |
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Directors' current accounts |
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Accruals and deferred income |
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£ 5,907 of tenants deposits are included in other creditors. |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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