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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: S E B Poultney
D G Poultney





SECRETARY: D G Poultney





REGISTERED OFFICE: 5th Floor
Waverley House
115 - 119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY





REGISTERED NUMBER: 03599285 (England and Wales)






SHELLEY PARK HOLDINGS LIMITED (REGISTERED NUMBER: 03599285)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,059,520 3,060,871
Investments 6 10,000 10,000
3,069,520 3,070,871

CURRENT ASSETS
Debtors 7 21,823 23,449
Cash at bank 10,798 1,203
32,621 24,652
CREDITORS
Amounts falling due within one year 8 551,892 456,291
NET CURRENT LIABILITIES (519,271 ) (431,639 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,550,249

2,639,232

CREDITORS
Amounts falling due after more than one year 9 (1,429,915 ) (1,516,899 )

PROVISIONS FOR LIABILITIES (35,516 ) (27,249 )
NET ASSETS 1,084,818 1,095,084

CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Retained earnings 1,074,818 1,085,084
SHAREHOLDERS' FUNDS 1,084,818 1,095,084

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.

SHELLEY PARK HOLDINGS LIMITED (REGISTERED NUMBER: 03599285)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2024 and were signed on its behalf by:




D G Poultney - Director



S E B Poultney - Director


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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 2 (2022 - 2 ) .

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 34,500
AMORTISATION
At 1 September 2022
and 31 August 2023 34,500
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 3,052,408 144,038 4,000 3,200,446
DEPRECIATION
At 1 September 2022 - 135,671 3,904 139,575
Charge for year - 1,255 96 1,351
At 31 August 2023 - 136,926 4,000 140,926
NET BOOK VALUE
At 31 August 2023 3,052,408 7,112 - 3,059,520
At 31 August 2022 3,052,408 8,367 96 3,060,871

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2022
and 31 August 2023 10,000
NET BOOK VALUE
At 31 August 2023 10,000
At 31 August 2022 10,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 21,823 23,449

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 87,000 85,400
Amounts owed to group undertakings 444,947 349,315
Taxation and social security 17,751 18,588
Other creditors 2,194 2,988
551,892 456,291

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,429,915 1,516,899

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 1,516,915 1,602,299
Other creditors 93 887
1,517,008 1,603,186

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: £    £   
10,000 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).