Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-3010false2022-07-01falsetrueOperating car park10trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01779677 2022-07-01 2023-06-30 01779677 2023-06-30 01779677 2021-07-01 2022-06-30 01779677 2022-06-30 01779677 c:Director2 2022-07-01 2023-06-30 01779677 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 01779677 d:Buildings d:LongLeaseholdAssets 2023-06-30 01779677 d:Buildings d:LongLeaseholdAssets 2022-06-30 01779677 d:FurnitureFittings 2022-07-01 2023-06-30 01779677 d:FurnitureFittings 2023-06-30 01779677 d:FurnitureFittings 2022-06-30 01779677 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01779677 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01779677 d:CurrentFinancialInstruments 2023-06-30 01779677 d:CurrentFinancialInstruments 2022-06-30 01779677 d:Non-currentFinancialInstruments 2023-06-30 01779677 d:Non-currentFinancialInstruments 2022-06-30 01779677 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01779677 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 01779677 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 01779677 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 01779677 d:ShareCapital 2023-06-30 01779677 d:ShareCapital 2022-06-30 01779677 d:RevaluationReserve 2022-07-01 2023-06-30 01779677 d:RevaluationReserve 2023-06-30 01779677 d:RevaluationReserve 2022-06-30 01779677 d:RetainedEarningsAccumulatedLosses 2023-06-30 01779677 d:RetainedEarningsAccumulatedLosses 2022-06-30 01779677 c:FRS102 2022-07-01 2023-06-30 01779677 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 01779677 c:FullAccounts 2022-07-01 2023-06-30 01779677 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 01779677 2 2022-07-01 2023-06-30 01779677 5 2022-07-01 2023-06-30 01779677 6 2022-07-01 2023-06-30 01779677 d:OtherDeferredTax 2023-06-30 01779677 d:OtherDeferredTax 2022-06-30 01779677 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Company Registration Number 01779677























YORPARKS LIMITED





UNAUDITED
FINANCIAL STATEMENTS





 30 JUNE 2023

























img26d3.png

 
YORPARKS LIMITED
REGISTERED NUMBER: 01779677

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,064,104
8,041,114

Investments
 5 
670,000
400,000

  
8,734,104
8,441,114

Current assets
  

Debtors: amounts falling due after more than one year
 6 
-
1,865,771

Debtors: amounts falling due within one year
 6 
178,907
672,653

Cash at bank and in hand
 7 
454,778
195,139

  
633,685
2,733,563

Creditors: amounts falling due within one year
 8 
(166,959)
(131,135)

Net current assets
  
 
 
466,726
 
 
2,602,428

Total assets less current liabilities
  
9,200,830
11,043,542

Creditors: amounts falling due after more than one year
 9 
(1,000,000)
(2,812,500)

Provisions for liabilities
  

Deferred tax
 10 
(1,461,002)
(1,461,002)

  
 
 
(1,461,002)
 
 
(1,461,002)

Net assets
  
6,739,828
6,770,040


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Revaluation reserve
 11 
7,586,561
7,494,607

Profit and loss account
 11 
(847,733)
(725,567)

  
6,739,828
6,770,040


Page 1

 
YORPARKS LIMITED
REGISTERED NUMBER: 01779677

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 February 2024.




T J Morton
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
YORPARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Yorparks Limited is a private company limited by shares, incorporated in England under company number of 01779677. The Company's registered office is 3rd Floor Goodbard House, 15 Infirmary Street, Leeds, LS1 2JS.
These financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared under the going concern concept, which  is dependent upon the continued support of the directors and bank.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
YORPARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
YORPARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Defined benefit pension plan

The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The liability recognised in the Statement of Financial Position in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of plan assets at the reporting date (if any) out of which the obligations are to be settled.

The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').

The fair value of plan assets is measured in accordance with the FRS102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

a) the increase in net pension benefit liability arising from employee service during the period; and

b) the cost of plan introductions, benefit changes, curtailments and settlements.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

Page 5

 
YORPARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
in accordance with the property lease (over 96 years)
Fixtures and fittings
-
10% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
YORPARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.12

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.13

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 7

 
YORPARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 10).


4.


Tangible fixed assets





L/Term Leasehold Property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 July 2022
8,000,000
146,390
8,146,390


Additions
-
71,227
71,227


Disposals
-
(146,390)
(146,390)



At 30 June 2023

8,000,000
71,227
8,071,227



Depreciation


At 1 July 2022
-
105,276
105,276


Charge for the year on owned assets
91,954
16,868
108,822


Disposals
-
(115,021)
(115,021)


On revalued assets
(91,954)
-
(91,954)



At 30 June 2023

-
7,123
7,123



Net book value



At 30 June 2023
8,000,000
64,104
8,064,104



At 30 June 2022
8,000,000
41,114
8,041,114

The property was valued at £8,000,000 on the 17th November 2021 by CBRE and is being depreciated over the remaining term of the lease.

Page 8

 
YORPARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Fixed asset investments





Unlisted investments
Investment Property
Total

£
£
£



Cost or valuation


At 1 July 2022
400,000
-
400,000


Additions
-
270,000
270,000



At 30 June 2023
400,000
270,000
670,000




Page 9

 
YORPARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
-
1,865,771

-
1,865,771


2023
2022
£
£

Due within one year

Other debtors
1,000
270,475

Prepayments and accrued income
177,907
402,178

178,907
672,653



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
454,776
195,139

454,776
195,139



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,187
704

Corporation tax
6,593
-

Other taxation and social security
81,517
55,829

Other creditors
27,436
26,436

Accruals and deferred income
46,226
48,166

166,959
131,135




Page 10

 
YORPARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,000,000
2,812,500

1,000,000
2,812,500


The bank loans of £1,000,000 (2022 - £2,812,500) are secured by a fixed and floating charge over the assets of the company.


10.


Deferred taxation




2023


£






At beginning of year
(1,461,002)



At end of year
(1,461,002)

2023
2022
£
£


Deferred tax on revaluation surplus
(1,461,002)
(1,461,002)

(1,461,002)
(1,461,002)


11.


Reserves

Revaluation reserve

The reserve arises on the revaluation of the Company's leasehold property, and is a non distributable reserve. 


12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £7,107 (2022 - £6,293). An additional pension contribution was made on behalf of directors totalling £60,000 (2022 - NIL).

Page 11

 
YORPARKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

13.


Related party transactions

A loan to the Morton Family Trust totalling NIL (2022 - £110,892) was outstanding at the year end and is included in other debtors.
T Morton is a director of both Yorparks Limited and Yorplace Limited. At the year end, Yorplace Limited owed Yorparks Limited NIL (2022 - £2,093,521). Interest for the year has been charged on this loan totalling NIL. (2022 - £120,268).
T Morton is a director of both Yorparks Limited and Yorhomes Limited. At the year end, Yorhomes Limited owed Yorparks Limited NIL (2021 - £20,000). No interest has been charged on this loan.
At the year end, T Morton was owed £1,436 by the company (2022 - £1,436). Interest for the year of NIL (2022 - NIL)  has been charged on this loan.
At the year end, R Morton was owed £25,000 by the company (2022 - £25,000). Interest for the year of NIL (2022 - NIL)  has been charged on this loan.


Page 12