Company registration number 13536757 (England and Wales)
LORD STREET CAR PARK LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LORD STREET CAR PARK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LORD STREET CAR PARK LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
604
907
Current assets
Debtors
4
2,184
2,169
Cash at bank and in hand
13,837
19,013
16,021
21,182
Creditors: amounts falling due within one year
5
(16,460)
(22,109)
Net current liabilities
(439)
(927)
Total assets less current liabilities
165
(20)
Provisions for liabilities
(151)
-
0
Net assets/(liabilities)
14
(20)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
7
(86)
(120)
Total equity
14
(20)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 24 May 2024 and are signed on its behalf by:
R Ashcroft
Director
Company registration number 13536757 (England and Wales)
LORD STREET CAR PARK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Lord Street Car Park Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Solarcrown Commercial, Sandwash Business Park, Sandwash Close, Rainford, St Helens, WA11 8LY.

1.1
Reporting period

The current year reporting period is 12 months. The prior year reporting period covers 17 months from incorporation on 29 July 2021 to 31 December 2022.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Mikhail Hotels & Leisure Holdings Limited. These consolidated financial statements are available from its registered office, 583 The Bold Hotel, Lord Street, Southport, PR9 0BE.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

LORD STREET CAR PARK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0

The company does not employ any staff, the administration of the company is being carried out by staff of another group undertaking.

 

 

 

LORD STREET CAR PARK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
1,210
Depreciation and impairment
At 1 January 2023
303
Depreciation charged in the year
303
At 31 December 2023
606
Carrying amount
At 31 December 2023
604
At 31 December 2022
907
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
100
100
Other debtors
2,084
2,069
2,184
2,169
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
110
109
Amounts owed to group undertakings
14,000
20,000
Other creditors
2,350
2,000
16,460
22,109
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Profit and loss reserves

Profit and loss reserve represents earnings net of distributions to owners.

LORD STREET CAR PARK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Stephen Grayson ACA FCCA
Statutory Auditor:
UHY Hacker Young Manchester LLP
Date of audit report:
24 May 2024
9
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 

Mikhail Hotels and Leisure Holdings Limited and its subsidiary undertakings are related parties by virtue of their common control.

 

Debtors and creditors due within one year include the amounts owed to other group companies.

10
Parent company

The immediate and ultimate parent company is Mikhail Hotels and Leisure Holdings Limited, a company registered in England and Wales. Copies of the financial statements of the immediate parent undertaking can be obtained from Mikhail Hotels and Leisure Holdings Limited, 583 The Bold Hotel, Lord Street, Southport, PR9 6HY.

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