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Registered number: 02994633
Deltapark 1 Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02994633
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,828,076 1,828,795
Investments at fair value 5 560,000 510,000
2,388,076 2,338,795
CURRENT ASSETS
Debtors 6 91,270 120,063
Cash at bank and in hand 216,093 138,404
307,363 258,467
Creditors: Amounts Falling Due Within One Year 7 (383,537 ) (397,646 )
NET CURRENT ASSETS (LIABILITIES) (76,174 ) (139,179 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,311,902 2,199,616
PROVISIONS FOR LIABILITIES
Deferred Taxation (313,000 ) (227,300 )
NET ASSETS 1,998,902 1,972,316
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 1,998,900 1,972,314
SHAREHOLDERS' FUNDS 1,998,902 1,972,316
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For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Winston Soper
Director
21 March 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Deltapark 1 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02994633 . The registered office is The Greeenwoods, Hothersall Lane, Hothersall Longridge, Preston Lancashire, PR3 2XB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost modified by the revaluation of investments and investment property which are stated at fair value through profit and loss, and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover represents rents receivable from the letting of property and services provided during the year, exclusive of value added tax.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures and equipment 15% on written down value
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.5. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Tangible Assets
Investment Properties Fixtures and equipment Total
£ £ £
Cost or Valuation
As at 1 October 2022 1,824,000 34,634 1,858,634
As at 30 September 2023 1,824,000 34,634 1,858,634
Depreciation
As at 1 October 2022 - 29,839 29,839
Provided during the period - 719 719
As at 30 September 2023 - 30,558 30,558
Net Book Value
As at 30 September 2023 1,824,000 4,076 1,828,076
As at 1 October 2022 1,824,000 4,795 1,828,795
Cost or valuation as at 30 September 2023 represented by:
Investment Properties Fixtures and equipment Total
£ £ £
At cost - 34,634 34,634
At valuation 1,824,000 - 1,824,000
1,824,000 34,634 1,858,634
The investment property has been included at directors valuation of £1,824,000.
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5. Investments at fair value
Unlisted
£
Cost
As at 1 October 2022 510,000
Revaluations 50,000
As at 30 September 2023 560,000
Provision
As at 1 October 2022 -
As at 30 September 2023 -
Net Book Value
As at 30 September 2023 560,000
As at 1 October 2022 510,000
The unlisted investments have been revalued in the year by the directors at 30th September 2023.
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,829 30,336
Amounts owed by group undertakings 70,957 72,026
Other debtors 18,484 17,701
91,270 120,063
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 18,907 74,264
Amounts owed to group undertakings 305,708 215,670
Other creditors 51,494 103,544
Taxation and social security 7,428 4,168
383,537 397,646
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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9. Directors Advances, Credits and Guarantees
Included within creditors are the following loans from directors:
As at 1 October 2022 Amounts advanced Amounts repaid Amounts written off As at 30 September 2023
£ £ £ £ £
Mr John Soper 719 - - - 719
The above loan is unsecured, interest free and repayable on demand.
10. Related Party Transactions
The following balances with the parent company and its subsidiaries are included in the financial statements:
Deltapark (Holdings) LimitedAmounts owed to group undertakings - £99,391

Deltapark (Holdings) Limited

Amounts owed to group undertakings - £99,391

Deltapark 2 LimitedAmounts owed to group undertakings - £206,317

Deltapark 2 Limited

Amounts owed to group undertakings - £206,317

Deltapark 3 LimitedAmounts owed by group undertakings - £70,957

Deltapark 3 Limited

Amounts owed by group undertakings - £70,957

Mr. J. W. Soper was a director of the company throughout the year . At the beginning of the year there was a balance of £50,000 owing to Alastair Soper who is a son of Mr. J. W. Soper and during the year £25,000 was repaid, therefore there was a total balance remaining owing to Alastair of £25,000 as at 30th September 2023 as follows :
Other creditor due within one year - £25,000
Included in other debtors is a balance of £7,400 which is an amount loaned to the son of Mr. J.W. Soper. No repayments have been made in the year.
Harper Industries plc is a company controlled by Mr. J. W. Soper. The company had the following balances and transactions with Harper Industries plc.
Investments held at fair value - £560,000
11. Ultimate Controlling Party
The company's ultimate controlling party is Deltapark (Holdings) Limited by virtue of his ownership of 100% of the issued share capital in the company. Deltapark (Holdings) Limited is controlled by Mr. J. W. Soper.
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