Silverfin false 31/12/2022 01/01/2022 31/12/2022 Robert Bidwell Bibow 01/01/2012 Tamarin Sophie Alicia Bibow 23/08/2005 29 September 2023 The principal activity of the Company during the financial year was that of the provision of specialist care and support to individuals suffering from mental health issues. 05544372 2022-12-31 05544372 bus:Director1 2022-12-31 05544372 bus:Director2 2022-12-31 05544372 2021-12-31 05544372 core:CurrentFinancialInstruments 2022-12-31 05544372 core:CurrentFinancialInstruments 2021-12-31 05544372 core:ShareCapital 2022-12-31 05544372 core:ShareCapital 2021-12-31 05544372 core:SharePremium 2022-12-31 05544372 core:SharePremium 2021-12-31 05544372 core:RetainedEarningsAccumulatedLosses 2022-12-31 05544372 core:RetainedEarningsAccumulatedLosses 2021-12-31 05544372 core:Goodwill 2021-12-31 05544372 core:Goodwill 2022-12-31 05544372 core:LandBuildings 2021-12-31 05544372 core:PlantMachinery 2021-12-31 05544372 core:Vehicles 2021-12-31 05544372 core:FurnitureFittings 2021-12-31 05544372 core:LandBuildings 2022-12-31 05544372 core:PlantMachinery 2022-12-31 05544372 core:Vehicles 2022-12-31 05544372 core:FurnitureFittings 2022-12-31 05544372 bus:OrdinaryShareClass1 2022-12-31 05544372 2022-01-01 2022-12-31 05544372 bus:FullAccounts 2022-01-01 2022-12-31 05544372 bus:SmallEntities 2022-01-01 2022-12-31 05544372 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 05544372 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 05544372 bus:Director1 2022-01-01 2022-12-31 05544372 bus:Director2 2022-01-01 2022-12-31 05544372 core:Goodwill core:TopRangeValue 2022-01-01 2022-12-31 05544372 core:Goodwill 2022-01-01 2022-12-31 05544372 core:PlantMachinery 2022-01-01 2022-12-31 05544372 core:Vehicles 2022-01-01 2022-12-31 05544372 core:FurnitureFittings 2022-01-01 2022-12-31 05544372 2021-01-01 2021-12-31 05544372 core:LandBuildings 2022-01-01 2022-12-31 05544372 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 05544372 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05544372 (England and Wales)

HENGOED PARK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2022
Pages for filing with the registrar

HENGOED PARK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2022

Contents

HENGOED PARK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2022
HENGOED PARK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 4 1,703,608 1,447,844
1,703,608 1,447,844
Current assets
Debtors 5 262,264 496,924
Cash at bank and in hand 723,894 519,894
986,158 1,016,818
Creditors: amounts falling due within one year 6 ( 688,326) ( 208,084)
Net current assets 297,832 808,734
Total assets less current liabilities 2,001,440 2,256,578
Provision for liabilities 7 ( 30,956) ( 38,025)
Net assets 1,970,484 2,218,553
Capital and reserves
Called-up share capital 8 9,475 9,475
Share premium account 927,630 927,630
Profit and loss account 1,033,379 1,281,448
Total shareholder's funds 1,970,484 2,218,553

For the financial year ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Hengoed Park Limited (registered number: 05544372) were approved and authorised for issue by the Director on 29 September 2023. They were signed on its behalf by:

Tamarin Sophie Alicia Bibow
Director
HENGOED PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2022
HENGOED PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2022
1. Accounting policies

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

General information and basis of accounting

Hengoed 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 1-3 College Yard, Worcester, WR1 2LB, 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.

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 Statement of Financial Position 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 Statement of Financial Position date.

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 5 years straight line
Goodwill

Goodwill is the amount paid in connection with the acquisition of a business in 2006, has being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 15 - 33.3 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 - 33.3 % 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 43 46

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2022 34,000 34,000
At 31 December 2022 34,000 34,000
Accumulated amortisation
At 01 January 2022 34,000 34,000
At 31 December 2022 34,000 34,000
Net book value
At 31 December 2022 0 0
At 31 December 2021 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 January 2022 1,410,920 8,383 11,525 186,709 1,617,537
Additions 264,365 4,825 9,817 14,554 293,561
At 31 December 2022 1,675,285 13,208 21,342 201,263 1,911,098
Accumulated depreciation
At 01 January 2022 17,804 1,488 10,671 139,730 169,693
Charge for the financial year 26,825 2,556 213 8,203 37,797
At 31 December 2022 44,629 4,044 10,884 147,933 207,490
Net book value
At 31 December 2022 1,630,656 9,164 10,458 53,330 1,703,608
At 31 December 2021 1,393,116 6,895 854 46,979 1,447,844

5. Debtors

2022 2021
£ £
Trade debtors 235,301 101,221
Other debtors 26,963 395,703
262,264 496,924

6. Creditors: amounts falling due within one year

2022 2021
£ £
Trade creditors 58,790 41,073
Taxation and social security 160,828 106,478
Other creditors 468,708 60,533
688,326 208,084

7. Provision for liabilities

2022 2021
£ £
Deferred tax 30,956 38,025

8. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
9,475 ordinary shares of £ 1.00 each 9,475 9,475

9. Related party transactions

Transactions with the entity's directors

2022 2021
£ £
As at the balance sheet date the directors owed the company the following - 2022 £NIL 0 321,084

As of 31st December 2022 the directors owed the business £NIL (2021: £310,852). During the year there were advances of personal transactions of £81,330, interest charged of £6,961 (at a rate of 2.5%) and dividends paid out to the directors in the year of £850,000. The remaining loan balance of £450,857 was repaid to the director as at 31st December 2022.