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REGISTERED NUMBER: 00773366 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ST. NICOLAS PARK DEVELOPMENT LIMITED

ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ST. NICOLAS PARK DEVELOPMENT LIMITED

COMPANY INFORMATION
for the year ended 28 February 2023







DIRECTORS: S Aggarwal
R Aggarwal
K K Aggarwal





SECRETARY: R Aggarwal





REGISTERED OFFICE: 76 St. Nicolas Park Drive
Nuneaton
Warwickshire
CV11 6DJ





REGISTERED NUMBER: 00773366 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)

BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 209,616 213,983
Investment property 5 906,650 906,650
1,116,266 1,120,633

CURRENT ASSETS
Debtors 6 422,386 401,254
Cash at bank and in hand 8,773 23,781
431,159 425,035
CREDITORS
Amounts falling due within one year 7 304,912 319,249
NET CURRENT ASSETS 126,247 105,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,242,513

1,226,419

PROVISIONS FOR LIABILITIES 9 207,891 192,238
NET ASSETS 1,034,622 1,034,181

CAPITAL AND RESERVES
Called up share capital 10 402 402
Retained earnings 11 1,034,220 1,033,779
SHAREHOLDERS' FUNDS 1,034,622 1,034,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)

BALANCE SHEET - continued
28 February 2023


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 and authorised for issue by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:





R Aggarwal - Director


ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 February 2023

1. STATUTORY INFORMATION

St. Nicolas Park Development 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.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover represents gross rental income receivable during the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost

Depreciation is provided on a monthly basis from the date of acquisition; no depreciation is provided in the year of disposal.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Deferred tax
Deferred tax is recognised in respect of all 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 1 (2022 - NIL ) .

ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 March 2022
and 28 February 2023 218,350
DEPRECIATION
At 1 March 2022 4,367
Charge for year 4,367
At 28 February 2023 8,734
NET BOOK VALUE
At 28 February 2023 209,616
At 28 February 2022 213,983

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 906,650
NET BOOK VALUE
At 28 February 2023 906,650
At 28 February 2022 906,650

The directors have valued the trading & investment property in July 2020 at £1,129,000. This includes company trading offices at a value of £218,350 which are shown in the financial statements as tangible fixed assets - Freehold Property.

This valuation has been reassessed by the directors 28 February 2023. Having considered the value of other similar properties in the area, the condition of the property and the tenancies achieved, and recent valuations they have concluded that this still represents a fair value of the investment property. Continued maintenance and refurbishment will ensure the fair value is maintained subject to any fluctuations in the property market in general.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tenant debtors - 1,341
Amounts owed by group undertakings 422,386 399,886
Prepayments and accrued income - 27
422,386 401,254

ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 296,944 311,845
Tax - 1,328
Social security and other taxes 1,153 -
Other creditors 2 -
Accruals and deferred income 3,828 3,504
Accrued expenses 2,985 2,572
304,912 319,249

8. SECURED DEBTS

Fixed and floating charge in favour of Barclays Bank PLC over the property and assets of the company dated 31st March 2014

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 207,891 192,238

Deferred
tax
£   
Balance at 1 March 2022 192,238
Timing differences 15,653
Balance at 28 February 2023 207,891

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
402 Ordinary £1 402 402

11. RESERVES
Retained
earnings
£   

At 1 March 2022 1,033,779
Profit for the year 441
At 28 February 2023 1,034,220

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mercia Export Enterprises Limited.