Registered number
04098847
Anna Park Ltd
Unaudited Filleted Accounts
31 January 2023
Anna Park Ltd
Registered number: 04098847
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 782,086 784,372
Current assets
Stocks 500,702 386,719
Debtors 4 44,322 35,769
Cash at bank and in hand 53,843 150,805
598,867 573,293
Creditors: amounts falling due within one year 5 (441,015) (404,367)
Net current assets 157,852 168,926
Total assets less current liabilities 939,938 953,298
Provisions for liabilities (86,479) (86,479)
Net assets 853,459 866,819
Capital and reserves
Called up share capital 200,000 200,000
Share premium 422,221 422,221
Profit and loss account 231,238 244,598
Shareholder's funds 853,459 866,819
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R P Cawston
Director
Approved by the board on 25 October 2023
Anna Park Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 46 42
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2022 775,228 169,181 944,409
At 31 January 2023 775,228 169,181 944,409
Depreciation
At 1 February 2022 - 160,037 160,037
Charge for the year - 2,286 2,286
At 31 January 2023 - 162,323 162,323
Net book value
At 31 January 2023 775,228 6,858 782,086
At 31 January 2022 775,228 9,144 784,372
The net book value of Land and buildings may be further analysed as follows:
2023 2022
£ £
Long leasehold 775,228 775,228
Cumulative depreciation based on historical cost - -
775,228 775,228
On 1st February 2018, a fixed asset long term leasehold property and short term leasehold improvements were redesignated as investment properties at a net book value of £241,299.
The investment property was revalued by directors to its market value of £750,000 on 31st January 2019, producing a fair value gain on revaluation of £508,701. The directors believe that this is a prudent estimatae of the current market value of the property, following a valuation conducted on th property by Lambers Chartered Surveyors on 10th August 2018.
4 Debtors 2023 2022
£ £
Other debtors 44,322 35,769
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 71,168 104,303
Other creditors 369,847 300,064
441,015 404,367
6 Events after the reporting date
Profit and loss reserves comprise of the cumulative trading profits/(losses) after tax net of any dividends and reserves transfers accounted for in the year.
7 Pension commitments
The company operates a defined contrubution pension scheme for the directors and staff. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £10,095 (2022: £9,708).
8 Controlling party
The company is controlled by A Park, who is a director and 100% shareholder of the company.
9 Other information
Anna Park Ltd is a private company limited by shares and incorporated in England. Its registered office is:
126 Regents Park Road
London
NW1 8XL
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