Caseware UK (AP4) 2023.0.135 2023.0.135 false4true4No description of principal activitytruefalse2022-12-01 08692535 2022-12-01 2023-11-30 08692535 2021-12-01 2022-11-30 08692535 2023-11-30 08692535 2022-11-30 08692535 c:Director10 2022-12-01 2023-11-30 08692535 d:CurrentFinancialInstruments 2023-11-30 08692535 d:CurrentFinancialInstruments 2022-11-30 08692535 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 08692535 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 08692535 d:ShareCapital 2023-11-30 08692535 d:ShareCapital 2022-11-30 08692535 d:RetainedEarningsAccumulatedLosses 2023-11-30 08692535 d:RetainedEarningsAccumulatedLosses 2022-11-30 08692535 c:OrdinaryShareClass1 2022-12-01 2023-11-30 08692535 c:OrdinaryShareClass1 2023-11-30 08692535 c:OrdinaryShareClass1 2022-11-30 08692535 c:FRS102 2022-12-01 2023-11-30 08692535 c:Audited 2022-12-01 2023-11-30 08692535 c:FullAccounts 2022-12-01 2023-11-30 08692535 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08692535 c:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 08692535 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08692535










Discovery Park (South) Limited










Financial statements

Information for filing with the registrar

For the year ended 30 November 2023

 
Discovery Park (South) Limited
Registered number: 08692535

Balance sheet
As at 30 November 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
2,011,045
1,967,809

Debtors: amounts falling due within one year
 4 
287,212
282,775

  
2,298,257
2,250,584

Creditors: amounts falling due within one year
 5 
(2,264,726)
(2,213,440)

Net current assets
  
 
 
33,531
 
 
37,144

  

Net assets
  
33,531
37,144


Capital and reserves
  

Called up share capital 
 6 
1,000
1,000

Profit and loss account
  
32,531
36,144

  
33,531
37,144


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 by: 




Mayer Schreiber
Director

Date: 29 August 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
Discovery Park (South) Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

1.


General information

Discovery Park (South) Limited is a private company limited by shares and is incorporated in England with the registration number 08692535. The address of the registered office is 147 Stamford Hill, London, N16 5LG.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The financial statements are presented in pounds sterling and are rounded to the nearest pound.  The following principle accounting policies have been applied:

The following principal accounting policies have been applied:

 
2.2

Going concern

In order to meet its day to day working capital requirements the company will continue to rely upon support provided by its fellow group companies, as and when the need arises. After making enquiries of those companies, the directors believe that the company will continue to have adequate resources to meet its financial obligations as they fall due for at least 12 months from the date of approval of these financial statements.

 
2.3

Stocks

Stocks relate to development land held for its resale potential and are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and a sale. Cost is based on the cost of purchase.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.4

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.

 
2.5

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 2

 
Discovery Park (South) Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Page 3

 
Discovery Park (South) Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
276,772
269,661

Other debtors
10,440
13,114

287,212
282,775



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
12,400
68,929

Amounts owed to group undertakings
2,188,568
2,080,753

Other creditors
63,758
63,758

2,264,726
2,213,440



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 4

 
Discovery Park (South) Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

7.


Related party transactions

The company is exempt from disclosing related party transactions with other companies that are wholly owned within the group.
All other related party transactions during the current and prior periods were made under normal market conditions.


8.


Controlling party

The immediate parent undertaking of the company is Discovery Park Estates Ltd.  A company incorporated in England.
Discovery Park Estates Ltd is the smallest and largest group for which consolidated financial statements are prepared. Copies of the consolidated financial statements can be obtained from the company's registered office at 147 Stamford Hill, London, N16 5LG.


9.


Auditor's information

The auditor's report on the financial statements for the year ended 30 November 2023 was unqualified.

The audit report was signed on 29 August 2024 by Mark Attwood FCCA (senior statutory auditor) on behalf of Kreston Reeves LLP.


Page 5