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REGISTERED NUMBER: 04121722 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

NORTH WALES TECHNOLOGY PARK LIMITED

NORTH WALES TECHNOLOGY PARK LIMITED (REGISTERED NUMBER: 04121722)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTH WALES TECHNOLOGY PARK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: D Dundonald
J T Wilcock





SECRETARY: S L West





REGISTERED OFFICE: Commodore House
North Wales Business Park
Abergele
Conwy
LL22 8LJ





REGISTERED NUMBER: 04121722 (England and Wales)





ACCOUNTANT: sianroberts
Chartered Accountant
10 Mostyn Street
Llandudno
Conwy
LL30 2PS

NORTH WALES TECHNOLOGY PARK LIMITED (REGISTERED NUMBER: 04121722)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 830,229 830,229

CURRENT ASSETS
Stocks 5 2,115,054 2,115,054
Debtors 6 21,925 64,232
Cash at bank 143,996 73,207
2,280,975 2,252,493
CREDITORS
Amounts falling due within one year 7 1,466,142 1,443,636
NET CURRENT ASSETS 814,833 808,857
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,645,062

1,639,086

CREDITORS
Amounts falling due after more than one
year

8

(646,713

)

(765,121

)

ACCRUALS AND DEFERRED INCOME (90,247 ) (90,247 )
NET ASSETS 908,102 783,718

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 908,100 783,716
SHAREHOLDERS' FUNDS 908,102 783,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

NORTH WALES TECHNOLOGY PARK LIMITED (REGISTERED NUMBER: 04121722)

BALANCE SHEET - continued
31 MARCH 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 by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





J T Wilcock - Director


NORTH WALES TECHNOLOGY PARK LIMITED (REGISTERED NUMBER: 04121722)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

North Wales Technology Park 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.

Turnover
Turnover represents the proceeds from sales, by way of 125 year, 250 year and 999 year leases, of fully serviced plots and newly constructed buildings on the technology park, together with sundry sales and rental income from the short term letting of completed buildings, net of value added tax.

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.

The investment property was acquired during a previous period and the directors are of the opinion that the fair value as at the balance sheet date is represented by the original cost of the property.

Stocks
Stocks and work in progress are stated at the lower of cost and net realisable value. Costs include land, construction costs and associated planning and other professional fees. Net realisable value represents the estimated selling price plus attributable grant less all estimated costs of completion and costs to be incurred in marketing and selling.

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.

Government grants
Expenditure-based government grants follow the treatment accorded to the expenditure to which they relate. They are treated as receivable at the point in time when the underlying economic transaction has occurred. Grants of a revenue nature are credited to income in the period to which they relate.

NORTH WALES TECHNOLOGY PARK LIMITED (REGISTERED NUMBER: 04121722)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 830,229
NET BOOK VALUE
At 31 March 2023 830,229
At 31 March 2022 830,229

5. STOCKS
2023 2022
£    £   
Undeveloped land and infrastructure costs 452,880 452,880
Completed land and buildings 1,662,174 1,662,174
2,115,054 2,115,054

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,263 45,823
Other debtors - 313
Prepayments 5,662 18,096
21,925 64,232

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 200,000 200,000
Trade creditors 1,848 2,374
Taxation and social security 46,888 47,848
Other creditors 1,217,406 1,193,414
1,466,142 1,443,636

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 646,713 765,121

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 346,713 465,121

NORTH WALES TECHNOLOGY PARK LIMITED (REGISTERED NUMBER: 04121722)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 846,713 965,121

10. RELATED PARTY DISCLOSURES

The company is jointly controlled by D Dundonald and the Wilcock family interests, who each control one half of the issued share capital of the company.

The freehold of the business park which North Wales Technology Park Limited is currently developing is owned by close members of J T Wilcock's family and Collas Crill Trust as trustees of The Abergele Settlement.

At the balance sheet date the company owed the Wilcock family interests a total of £536,898 (2022: £540,398).

Insightion Limited and its subsidiary Worldspan Limited are controlled by J T Wilcock, director of the company.