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REGISTERED NUMBER: 03139266 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

STATEPARK LIMITED

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STATEPARK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: G N Hilu
N J Hilu
P M Hilu
C Imirziadis
S J Imirziadis





SECRETARY: P M Hilu





REGISTERED OFFICE: The Green
The Narth
Monmouth
Monmouthshire
NP25 4RA





REGISTERED NUMBER: 03139266 (England and Wales)





ACCOUNTANTS: Graham Paul Chartered Accountants
5 Ash Tree Court
Woodsy Close
Cardiff Gate Business Park
Cardiff
CF23 8RW

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 749 461
Investments 5 1,000 1,000
Investment property 6 660,000 660,000
661,749 661,461

CURRENT ASSETS
Debtors 7 317,455 229,769
Cash at bank 260,765 266,465
578,220 496,234
CREDITORS
Amounts falling due within one year 8 42,190 17,644
NET CURRENT ASSETS 536,030 478,590
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,197,779

1,140,051

PROVISIONS FOR LIABILITIES 125,400 125,400
NET ASSETS 1,072,379 1,014,651

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 (16,116 ) (19,256 )
Retained earnings 1,088,395 1,033,807
SHAREHOLDERS' FUNDS 1,072,379 1,014,651

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

BALANCE SHEET - continued
31 DECEMBER 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2022 and were signed on its behalf by:





G N Hilu - Director


STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Statepark Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rentals and associated service charges receivable relating to the year along with proceeds from the sales of lease premiums and any profit on disposal of investment properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 33% on cost and 25% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is included at fair value and any fair value adjustments are recognised in the income statement. Deferred taxation is provided on any gains at the rate expected to apply when the property is sold.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all significant timing differences that have originated but not reversed at the balance sheet date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 January 2021 4,809
Additions 898
At 31 December 2021 5,707
DEPRECIATION
At 1 January 2021 4,348
Charge for year 610
At 31 December 2021 4,958
NET BOOK VALUE
At 31 December 2021 749
At 31 December 2020 461

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 January 2021
and 31 December 2021 1,000
NET BOOK VALUE
At 31 December 2021 1,000
At 31 December 2020 1,000

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


6. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 January 2021
and 31 December 2021 660,000
NET BOOK VALUE
At 31 December 2021 660,000
At 31 December 2020 660,000

Cost or valuation at 31 December 2021 is represented by:
£   
Valuation in 2015 500,000
Valuation in 2016 25,000
Valuation in 2017 135,000
660,000

The investment properties were valued on an open market basis on 31 December 2021 by G N Hilu, a director of the company .

7. DEBTORS
2021 2020
£    £   
Amounts falling due within one year:
Trade debtors 29,269 14,549
Other debtors 123,927 75,678
153,196 90,227

Amounts falling due after more than one year:
Amounts owed by associates 164,259 139,542

Aggregate amounts 317,455 229,769

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Taxation and social security 19,994 -
Other creditors 22,196 17,644
42,190 17,644

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


9. RESERVES
Fair
value
reserve
£   
At 1 January 2021 (19,256 )
NPV recognition adjustment 3,140

At 31 December 2021 (16,116 )

Included within retained earnings are non-distributable reserves relating to investment properties fair value adjustments (net of deferred taxation) amounting to £534,600 (2020 - £534,600).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
C Imirziadis
Balance outstanding at start of year 27,500 -
Amounts advanced 25,281 27,500
Amounts repaid (27,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,281 27,500

S J Imirziadis
Balance outstanding at start of year 27,500 -
Amounts advanced 80,838 27,500
Amounts repaid (27,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 80,838 27,500

The amounts due from the director to the company are repayable on demand.