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REGISTERED NUMBER: 05213145 (England and Wales)



















MOOR PARK ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






MOOR PARK ESTATES LIMITED (REGISTERED NUMBER: 05213145)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 8

MOOR PARK ESTATES LIMITED (REGISTERED NUMBER: 05213145)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 100 100
Investment property 5 1,425,841 1,612,054
1,425,941 1,612,154

CURRENT ASSETS
Stocks 6 4,702,150 3,672,150
Debtors 7 1,800,154 2,058,525
Cash at bank 112,909 1,218,903
6,615,213 6,949,578
CREDITORS
Amounts falling due within one year 8 62,535 531,467
NET CURRENT ASSETS 6,552,678 6,418,111
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,978,619

8,030,265

CREDITORS
Amounts falling due after more than one year 9 (1,758,680 ) (1,931,641 )

PROVISIONS FOR LIABILITIES (31,846 ) (31,846 )
NET ASSETS 6,188,093 6,066,778

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 12 215,372 215,372
Retained earnings 12 5,972,717 5,851,402
SHAREHOLDERS' FUNDS 6,188,093 6,066,778

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

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

MOOR PARK ESTATES LIMITED (REGISTERED NUMBER: 05213145)

BALANCE SHEET - continued
31 AUGUST 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2024 and were signed on its behalf by:




M S Basra - Director



S S Basra - Director


MOOR PARK ESTATES LIMITED (REGISTERED NUMBER: 05213145)

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

1. STATUTORY INFORMATION

Moor Park Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05213145

Registered office: 10 Station Road
Letchworth Garden City
Hertfordshire
SG6 3AU

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts for on-going services is recognised by reference to the stage of completion.

Turnover also represents rent receivable, excluding value added tax.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


MOOR PARK ESTATES LIMITED (REGISTERED NUMBER: 05213145)

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

2. ACCOUNTING POLICIES - continued
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.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2022
and 31 August 2023 100
NET BOOK VALUE
At 31 August 2023 100
At 31 August 2022 100

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 1,612,054
Disposals (186,213 )
At 31 August 2023 1,425,841
NET BOOK VALUE
At 31 August 2023 1,425,841
At 31 August 2022 1,612,054

MOOR PARK ESTATES LIMITED (REGISTERED NUMBER: 05213145)

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

5. INVESTMENT PROPERTY - continued

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2011 550,000
Valuation in 2012 604,488
Valuation in 2013 665,000
Valuation in 2014 (50,458 )
Valuation in 2015 (390,147 )
Valuation in 2016 (103,008 )
Valuation in 2022 (1,028,657 )
Cost 1,178,623
1,425,841

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,178,623 1,364,836

Investment properties were valued on an open market basis on 31 August 2023 by the directors' .

6. STOCKS
2023 2022
£    £   
Work-in-progress 4,702,150 3,672,150

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,005 16,720
Other debtors 1,782,149 2,041,805
1,800,154 2,058,525

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 29,784 23,052
Trade creditors 37 7,748
Amounts owed to group undertakings 100 100
Taxation and social security 32,614 387,996
Other creditors - 112,571
62,535 531,467

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) 1,737,952 1,769,692
Other creditors 20,728 161,949
1,758,680 1,931,641

Bank loans due more than 5 years by instalments amount to £1,618,816 (2022: £1,677,484).

MOOR PARK ESTATES LIMITED (REGISTERED NUMBER: 05213145)

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

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 29,784 23,052

Amounts falling due between two and five years:
Bank loans 1,737,952 1,769,692

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,767,736 1,792,744

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 September 2022 4,971,549 1,095,225 6,066,774
Profit for the year 121,315 121,315
Deferred tax adjustment (148,804 ) 148,804 -
Surplus on revaluation 1,028,657 (1,028,657 ) -
At 31 August 2023 5,972,717 215,372 6,188,089

MOOR PARK ESTATES LIMITED (REGISTERED NUMBER: 05213145)

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

13. RELATED PARTY DISCLOSURES

Company Directors'

Mr M S Basra and Mr L Kallar have provided additional security for the company borrowings.

There is a 125 year lease between Mr M S Barsa and Mr L Kallar to the company for six flats expiring in the year 2137.


Kallar View Constructions Limited
A company in which Mr S Kallar is a shareholder and director.

During the year the company entered into the following transactions with Kallar View Construction Limited:

Purchases: £1,030,000


Waterstone Capital Limited
A company in which M S Basra is a shareholder and director.

Amount due from related party at the balance sheet date is £1,475,000 (2022: £1,475,000).

No interest is payable on the loan and there are no agreed repayment terms.


Moor Park Capital Limited
A company in which Mr S Kallar and Mr L Kallar have influence over.

Amount due from related party at the balance sheet date is £Nil (2022: £545,000).

No interest is payable on the loan and there are no agreed repayment terms.


Kallar Investments Limited
A company in which Mr S Kallar and Mr L Kallar have influence over.

Amount due from related party at the balance sheet date is £300,000 (2022: £Nil).

No interest is payable on the loan and there are no agreed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MOOR PARK ESTATES LIMITED (REGISTERED NUMBER: 05213145)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Moor Park Estates Limited for the year ended 31 August 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Moor Park Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Moor Park Estates Limited and state those matters that we have agreed to state to the Board of Directors of Moor Park Estates Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Moor Park Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Moor Park Estates Limited. You consider that Moor Park Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Moor Park Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


29 January 2024