UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
SHELLEY PARK HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
SHELLEY PARK HOLDINGS LIMITED |
SHELLEY PARK HOLDINGS LIMITED (REGISTERED NUMBER: 03599285) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SHELLEY PARK HOLDINGS LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 August 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SHELLEY PARK HOLDINGS LIMITED (REGISTERED NUMBER: 03599285) |
BALANCE SHEET |
31 August 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
SHELLEY PARK HOLDINGS LIMITED (REGISTERED NUMBER: 03599285) |
BALANCE SHEET - continued |
31 August 2023 |
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 |
SHELLEY PARK HOLDINGS LIMITED (REGISTERED NUMBER: 03599285) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 August 2023 |
1. | STATUTORY INFORMATION |
Shelley Park Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have considered the impact of the current Coronavirus epidemic and conclude there is no future impact on the company being able to continue as a going concern. |
Preparation of consolidated financial statements |
The financial statements contain information about Shelley Park Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover represents the amount derived from management charges and rent receivable from subsidiary. |
Goodwill |
Goodwill represents the difference between the fair value of the consideration paid on acquisition of a business and a fair value of its separable net assets at the date of acquisition. Goodwill is amortised over its estimated useful life of 20 years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Freehold land and buildings are not depreciated. The nature of the trade and the company's policy of a high level of maintenance, refurbishment and upgrading ensuring that the premises are maintained to a very high standard to protect the company's trade. The directors are of the opinion that the lives of these assets are sufficiently maintained to prevent the need for depreciation. This policy is contrary to FRS 102 but the amounts are not material. |
The carrying values of all freehold land and buildings are reviewed annually for impairment. Any impairment in value will be charged to the profit and loss account. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Deferred taxation |
Deferred taxation is provided on the liability method in respect of the taxation effect of all timing differences to the extent that tax liabilities are likely to crystallise in the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SHELLEY PARK HOLDINGS LIMITED (REGISTERED NUMBER: 03599285) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 August 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 September 2022 |
and 31 August 2023 |
AMORTISATION |
At 1 September 2022 |
and 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2022 |
and 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 September 2022 |
and 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
SHELLEY PARK HOLDINGS LIMITED (REGISTERED NUMBER: 03599285) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 August 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans - more than 5 years | 1,029,915 | 1,126,899 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Other creditors | 93 | 887 |
Security is held by way of fixed and floating charges over the company including all property and assets present and future. |
Further, the directors have provided a limited personal guarantee in respect of the bank borrowing. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 10,000 | 10,000 |
12. | CONTINGENT LIABILITIES |
The company has given unlimited guarantees to the group's bankers in respect of the borrowings by the subsidiary company Shelley Park Limited. At 31 August 2023 the subsidiary's total borrowings with the group's bankers amounted to £184,111 (2022: £180,612). |