Company Registration No. 13515164 (England and Wales)
TRAILER PARK GROUP UK LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
TRAILER PARK GROUP UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
TRAILER PARK GROUP UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
Period
Period
ending
ending
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
93,532
-
0
Investments
4
12,156,171
-
0
12,249,703
-
Current assets
Debtors
5
2,037,839
1
Cash at bank and in hand
1,461,260
-
0
3,499,099
1
Creditors: amounts falling due within one year
6
(8,230,702)
-
Net current (liabilities)/assets
(4,731,603)
1
Total assets less current liabilities
7,518,100
1
Capital and reserves
Called up share capital
1
1
Other reserves
3,150,000
-
0
Profit and loss reserves
4,368,099
-
0
Total equity
7,518,100
1

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 29 October 2023 and are signed on its behalf by:
Mr D Zuaiter
Director
Company Registration No. 13515164
TRAILER PARK GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information

Trailer Park Group UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Third Floor Threeways House, 40/44 Clipstone Street, London, United Kingdom, W1W 5DE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources, including the availability of group funding to assist with the cash flow and working capital of the company as needed, to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Reporting period

The comparative period figures relate to 16 July 2021 to 30 September 2021. The current reporting period is from 1 October 2021 to 31 December 2022.

1.4
Turnover

Turnover is recognised at the fair value of consideration received or receivable in line with the delivery of projects to the customer or at designated milestones, and is shown net of VAT. When payment is received in advance of the delivery of projects turnover is deferred until the project is delivered or the designated milestone has been reached.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Computer equipment
Straight line over 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

TRAILER PARK GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

TRAILER PARK GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2022
2021
Number
Number
Total
21
-
0
TRAILER PARK GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 5 -
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 October 2021
-
0
Additions
105,724
At 31 December 2022
105,724
Depreciation and impairment
At 1 October 2021
-
0
Depreciation charged in the period
12,192
At 31 December 2022
12,192
Carrying amount
At 31 December 2022
93,532
At 30 September 2021
-
0
4
Fixed asset investments
2022
2021
£
£
Investment in subsidiary
12,156,171
-
0

 

Movements in fixed asset investments
Shares in group undertakings
£
Cost
At 1 October 2021
-
Additions
12,156,171
At 31 December 2022
12,156,171
Carrying amount
At 31 December 2022
12,156,171
At 30 September 2021
-

On 14 December 2021, Trailer Park Group UK Limited acquired a subsidiary; MXW Studios Limited. The purchase price comprised of shares in a controlling party recognised as a capital contribution of funds and a cash payment.

TRAILER PARK GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 6 -
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
1,059,107
-
0
Amounts owed by group undertakings
-
0
1
Prepayments and accrued income
774,516
-
0
1,833,623
1
2022
2021
Amounts falling due after more than one year:
£
£
Other debtors
204,216
-
0
Total debtors
2,037,839
1
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
63,060
-
0
Amounts owed to group undertakings
6,542,188
-
0
Corporation tax
64,409
-
0
Other taxation and social security
280,268
-
0
Accruals and deferred income
1,280,777
-
0
8,230,702
-
0
7
Financial commitments, guarantees and contingent liabilities

A third party company has secured fixed and floating charges over the undertakings of the company as security for a group credit facility amounting to $11,237,288.

8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2022
2021
£
£
Within one year
283,633
-
0
Between two and five years
1,304,713
-
0
1,588,346
-
0
TRAILER PARK GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 7 -
9
Parent company

The immediate parent company is Trailer Park Inc, a company incorporated in the USA with registered office at 6922 Hollywood Blvd, 10th Floor, Hollywood, CA 90028.

The ultimate controlling party is Erie Street TPG Investment, LLC, a company incorporated in the USA with registered office at 444 West Lake Street, Suit 3460, Chicago, IL, 60606.

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Russell Cooper.
The auditor was HW Fisher LLP.
2022-12-312021-10-01false30 October 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityThis audit opinion is unqualifiedMr G GraunkeMr R L EisermanMrs J E  LopezMr D Zuaiter135151642021-10-012022-12-31135151642022-12-31135151642021-09-3013515164core:OtherPropertyPlantEquipment2022-12-3113515164core:OtherPropertyPlantEquipment2021-09-3013515164core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3113515164core:CurrentFinancialInstrumentscore:WithinOneYear2021-09-3013515164core:ShareCapital2022-12-3113515164core:ShareCapital2021-09-3013515164core:OtherMiscellaneousReserve2022-12-3113515164core:OtherMiscellaneousReserve2021-09-3013515164core:RetainedEarningsAccumulatedLosses2022-12-3113515164core:RetainedEarningsAccumulatedLosses2021-09-3013515164bus:Director42021-10-012022-12-3113515164core:ComputerEquipment2021-10-012022-12-31135151642021-07-162021-09-3013515164core:OtherPropertyPlantEquipment2021-09-3013515164core:OtherPropertyPlantEquipment2021-10-012022-12-3113515164core:CurrentFinancialInstruments2022-12-3113515164core:CurrentFinancialInstruments2021-09-3013515164core:Non-currentFinancialInstruments2022-12-3113515164core:Non-currentFinancialInstruments2021-09-3013515164core:WithinOneYear2022-12-3113515164core:WithinOneYear2021-09-3013515164core:BetweenTwoFiveYears2022-12-3113515164core:BetweenTwoFiveYears2021-09-3013515164bus:PrivateLimitedCompanyLtd2021-10-012022-12-3113515164bus:SmallCompaniesRegimeForAccounts2021-10-012022-12-3113515164bus:FRS1022021-10-012022-12-3113515164bus:Audited2021-10-012022-12-3113515164bus:Director12021-10-012022-12-3113515164bus:Director22021-10-012022-12-3113515164bus:Director32021-10-012022-12-3113515164bus:FullAccounts2021-10-012022-12-31xbrli:purexbrli:sharesiso4217:GBP