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REGISTERED NUMBER: 00773366 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ST. NICOLAS PARK DEVELOPMENT LIMITED

ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ST. NICOLAS PARK DEVELOPMENT LIMITED

COMPANY INFORMATION
for the year ended 29 February 2024







DIRECTORS: S Aggarwal
R Aggarwal
K K Aggarwal





SECRETARY: R Aggarwal





REGISTERED OFFICE: 76 St. Nicolas Park Drive
Nuneaton
Warwickshire
CV11 6DJ





REGISTERED NUMBER: 00773366 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 205,249 209,616
Investment property 5 906,650 906,650
1,111,899 1,116,266

CURRENT ASSETS
Debtors 6 405,999 422,386
Cash at bank 18,253 8,773
424,252 431,159
CREDITORS
Amounts falling due within one year 7 264,572 304,912
NET CURRENT ASSETS 159,680 126,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,271,579

1,242,513

PROVISIONS FOR LIABILITIES 9 207,891 207,891
NET ASSETS 1,063,688 1,034,622

CAPITAL AND RESERVES
Called up share capital 10 402 402
Retained earnings 11 1,063,286 1,034,220
SHAREHOLDERS' FUNDS 1,063,688 1,034,622

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)

BALANCE SHEET - continued
29 February 2024


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 and authorised for issue by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





R Aggarwal - Director


ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 February 2024

1. STATUTORY INFORMATION

St. Nicolas Park Development 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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover represents gross rental income receivable during the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost

Depreciation is provided on a monthly basis from the date of acquisition; no depreciation is provided in the year of disposal.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 March 2023
and 29 February 2024 218,350
DEPRECIATION
At 1 March 2023 8,734
Charge for year 4,367
At 29 February 2024 13,101
NET BOOK VALUE
At 29 February 2024 205,249
At 28 February 2023 209,616

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 906,650
NET BOOK VALUE
At 29 February 2024 906,650
At 28 February 2023 906,650

The directors valued the trading & investment property in July 2020 at £1,129,000. This includes company trading offices at a value of £218,350 which are shown in the financial statements as tangible fixed assets - Freehold Property.

This valuation has been reassessed by the directors at 28 February 2024. Having considered the value of other similar properties in the area, the condition of the property and the tenancies achieved, and recent valuations they have concluded that this still represents a fair value of the investment property. Continued maintenance and refurbishment will ensure the fair value is maintained subject to any fluctuations in the property market in general.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tenant debtors 3,613 -
Amounts owed by group undertakings 402,386 422,386
405,999 422,386

ST. NICOLAS PARK DEVELOPMENT LIMITED (REGISTERED NUMBER: 00773366)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 245,243 296,944
Tax 9,350 -
Social security and other taxes 1,153 1,153
Other creditors 1 2
Accruals and deferred income 5,210 3,828
Accrued expenses 3,615 2,985
264,572 304,912

8. SECURED DEBTS

Fixed and floating charge in favour of Barclays Bank PLC over the property and assets of the company dated 31st March 2014

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 207,891 207,891

Deferred
tax
£   
Balance at 1 March 2023 207,891
Timing differences
Balance at 29 February 2024 207,891

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
402 Ordinary £1 402 402

11. RESERVES
Retained
earnings
£   

At 1 March 2023 1,034,220
Profit for the year 29,066
At 29 February 2024 1,063,286

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mercia Export Enterprises Limited.