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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 5 APRIL 2018 |
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NEW PROVINCIAL ENTERPRISES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 5 APRIL 2018 |
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FOR |
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NEW PROVINCIAL ENTERPRISES LIMITED |
NEW PROVINCIAL ENTERPRISES LIMITED (REGISTERED NUMBER: 00393727) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2018 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 6 |
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NEW PROVINCIAL ENTERPRISES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2018 |
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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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NEW PROVINCIAL ENTERPRISES LIMITED (REGISTERED NUMBER: 00393727) |
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BALANCE SHEET |
5 APRIL 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Capital redemption reserve | 8 |
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Capital reserve | 8 |
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Retained earnings | 8 |
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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. |
NEW PROVINCIAL ENTERPRISES LIMITED (REGISTERED NUMBER: 00393727) |
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BALANCE SHEET - continued |
5 APRIL 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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NEW PROVINCIAL ENTERPRISES LIMITED (REGISTERED NUMBER: 00393727) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2018 |
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1. | STATUTORY INFORMATION |
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New Provincial Enterprises Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The company's accounts present information about it as an individual undertaking. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Operating lease income |
Rental income is recognised on a straight-line basis over the period of the leases. |
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Investments |
Listed investments are initially recognised at their transaction value and subsequently measured at their fair value |
as at the balance sheet date. The profit and loss account includes the net gains and losses arising on revaluation |
and disposals throughout the year. |
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Listed investments are all traded in quoted public markets, primarily the London Stock Exchange and the basis of |
fair value for listed investments is equivalent to the market value, using the bid price. |
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Fair value changes in listed investments are classified as realised profits or losses and are included in |
distributable reserves. |
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Unlisted investments are measured at cost less impairment. |
NEW PROVINCIAL ENTERPRISES LIMITED (REGISTERED NUMBER: 00393727) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Investment properties |
investment property for which fair value can be measured reliably without undue cost or effort is measured at fair |
value at each reporting date with changes in fair vale recognised in profit and loss account.The property was |
valued on an open market basis by a director. |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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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. | FIXED ASSET INVESTMENTS |
Investment | Other |
property | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 6 April 2017 |
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876,083 |
Additions |
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138,062 |
Disposals |
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( |
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Fair value movements | ( |
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At 5 April 2018 |
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840,414 |
PROVISIONS |
At 6 April 2017 |
and 5 April 2018 | - | 900 | 900 |
NET BOOK VALUE |
At 5 April 2018 |
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839,514 |
At 5 April 2017 |
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875,183 |
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The investment property is included in the accounts at fair value at the year end as estimated by a director. The |
property is jointly owned by the company and other parties and is held for use in operating leases. The historical |
cost of the company's share of the property was £70,842 (2017: £70,842). |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Taxation and social security |
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Other creditors |
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NEW PROVINCIAL ENTERPRISES LIMITED (REGISTERED NUMBER: 00393727) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2018 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary shares | 5p | 16 | 16 |
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8. | RESERVES |
Capital |
Retained | redemption | Capital |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
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At 6 April 2017 |
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975,017 |
Deficit for the year | ( |
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Dividends | ( |
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At 5 April 2018 |
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939,152 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 5 April 2018 and 5 April 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Interest at 3% was charged on the loan. There were no other specific terms or conditions. |