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REGISTERED NUMBER: 03139266 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

STATEPARK LIMITED

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STATEPARK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G N Hilu
N J Hilu
P M Hilu
A I Imirziadis
H C Imirziadis





SECRETARY: P M Hilu





REGISTERED OFFICE: The Green
The Narth
Monmouth
Monmouthshire
NP25 4RA





REGISTERED NUMBER: 03139266 (England and Wales)





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,831 2,279
Investments 5 1,000 1,000
Investment property 6 660,000 660,000
663,831 663,279

CURRENT ASSETS
Debtors 7 276,767 239,812
Cash at bank 157,003 208,438
433,770 448,250
CREDITORS
Amounts falling due within one year 8 26,521 22,770
NET CURRENT ASSETS 407,249 425,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,071,080

1,088,759

PROVISIONS FOR LIABILITIES 125,400 125,400
NET ASSETS 945,680 963,359

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 945,580 963,259
SHAREHOLDERS' FUNDS 945,680 963,359

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

BALANCE SHEET - continued
31 DECEMBER 2023


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

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

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 30 July 2024 and were signed on its behalf by:





G N Hilu - Director


STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

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


1. STATUTORY INFORMATION

Statepark 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.

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.

Turnover
Turnover represents rentals and associated service charges receivable relating to the year along with proceeds from the sales of lease premiums and any profit on disposal of investment properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 33% on cost and 25% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is included at fair value and any fair value adjustments are recognised in the income statement. Deferred taxation is provided on any gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all significant 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.

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 January 2023 7,693
Additions 1,732
At 31 December 2023 9,425
DEPRECIATION
At 1 January 2023 5,414
Charge for year 1,180
At 31 December 2023 6,594
NET BOOK VALUE
At 31 December 2023 2,831
At 31 December 2022 2,279

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 January 2023
and 31 December 2023 1,000
NET BOOK VALUE
At 31 December 2023 1,000
At 31 December 2022 1,000

6. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 660,000
NET BOOK VALUE
At 31 December 2023 660,000
At 31 December 2022 660,000

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

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


6. INVESTMENT PROPERTY - continued

Cost or valuation at 31 December 2023 is represented by:
£   
Valuation in 2015 500,000
Valuation in 2016 25,000
Valuation in 2017 135,000
660,000

The investment properties were valued on an open market basis on 31 December 2023 by G N Hilu, a director of the company .

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 16,661 32,574
Other debtors 78,308 22,732
94,969 55,306

Amounts falling due after more than one year:
Amounts owed by associates 135,804 162,299
Other debtors 45,994 22,207
181,798 184,506

Aggregate amounts 276,767 239,812

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,511 -
Other creditors 25,010 22,770
26,521 22,770

9. RESERVES

Included within retained earnings are non-distributable reserves relating to investment properties fair value adjustments (net of deferred taxation) amounting to £534,600 (2022 - £534,600).

STATEPARK LIMITED (REGISTERED NUMBER: 03139266)

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


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
C Imirziadis
Balance outstanding at start of year 337 25,281
Amounts advanced - 60,337
Amounts repaid (337 ) (85,281 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 337

S J Imirziadis
Balance outstanding at start of year 509 80,838
Amounts advanced - 509
Amounts repaid (509 ) (80,838 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 509

A I Imirziadis
Balance outstanding at start of year - -
Amounts advanced 30,393 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,393 -

The amounts brought forward in the note above relate to parties who ceased to be a director in the year but remain a shareholder. These loans have not been repaid in the year, but transferred to other debtors.

The amounts loaned to directors in the year of £30,393 are repayable on demand.

11. RELATED PARTY DISCLOSURES

Loans from former directors totalling £846 remain due from shareholders as at 31 December 2023. These have been included in other debtors.