COMPANY REGISTRATION NUMBER:
04645544
NEWLANDS MANAGEMENT LIMITED
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FILLETED FINANCIAL STATEMENTS
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NEWLANDS MANAGEMENT LIMITED
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STATEMENT OF FINANCIAL POSITION
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31 August 2018
Current assets
Debtors
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5
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41,741
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|
29,231
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Cash at bank and in hand
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–
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1,291
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---------
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---------
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41,741
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30,522
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|
|
|
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Creditors: amounts falling due within one year
|
6
|
41,701
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|
30,482
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---------
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---------
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Net current assets
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40
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40
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|
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----
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----
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Total assets less current liabilities
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40
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40
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|
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----
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----
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Capital and reserves
Called up share capital
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4
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4
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Profit and loss account
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36
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36
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|
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----
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----
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Shareholders funds
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40
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40
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|
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----
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----
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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 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 income and retained earnings has not been delivered.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
30 May 2019
, and are signed on behalf of the board by:
Company registration number:
04645544
NEWLANDS MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
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YEAR ENDED 31 AUGUST 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Castle House, 69 - 70 Victoria Street, Englefield Green, Egham, Surrey, TW20 OQX.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil
(2017: Nil).
5.
Debtors
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2018
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2017
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£
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£
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Other debtors
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41,741
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29,231
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---------
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---------
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6.
Creditors:
amounts falling due within one year
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2018
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2017
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£
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£
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Corporation tax
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–
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57
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Other creditors
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41,701
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30,425
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---------
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---------
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41,701
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30,482
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---------
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---------
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7.
Contingencies
The company has given a deed of guarantee and debenture for the bank borrowings of a number of connected companies. As at 31 August 2018, the bank borrowings amounted to £22m (2017: £23m.)
8.
Summary audit opinion
The auditor's report for the year dated 30 May 2019 was unqualified.
The senior statutory auditor was
Shabir Thantrey
, for and on behalf of
UHY Hacker Young (S.E.) Limited
.
9.
Related party transactions
There were no related party transactions requiring disclosure under FRS 102 Section 1A.