2
25 September 2024
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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
2,931,058
322,441
29,311
351,752
2,579,306
2,608,617
xbrli:pure
xbrli:shares
iso4217:GBP
02868980
2023-01-01
2023-12-31
02868980
2023-12-31
02868980
2022-12-31
02868980
2022-01-01
2022-12-31
02868980
2022-12-31
02868980
2021-12-31
02868980
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-01-01
2023-12-31
02868980
bus:Director2
2023-01-01
2023-12-31
02868980
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-12-31
02868980
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-12-31
02868980
core:WithinOneYear
2023-12-31
02868980
core:WithinOneYear
2022-12-31
02868980
core:ShareCapital
2023-12-31
02868980
core:ShareCapital
2022-12-31
02868980
core:RetainedEarningsAccumulatedLosses
2023-12-31
02868980
core:RetainedEarningsAccumulatedLosses
2022-12-31
02868980
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-12-31
02868980
bus:SmallEntities
2023-01-01
2023-12-31
02868980
bus:Audited
2023-01-01
2023-12-31
02868980
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
02868980
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
02868980
bus:FullAccounts
2023-01-01
2023-12-31
COMPANY REGISTRATION NUMBER:
02868980
Trees Park (Callands) Limited |
|
Filleted Financial Statements |
|
Trees Park (Callands) Limited |
|
Statement of Financial Position |
|
31 December 2023
Fixed assets
Tangible assets |
5 |
2,579,306 |
2,608,617 |
|
|
|
|
Current assets
Debtors |
6 |
6,222,760 |
6,034,746 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
3,752,743 |
3,712,948 |
|
------------ |
------------ |
Net current assets |
2,470,017 |
2,321,798 |
|
------------ |
------------ |
Total assets less current liabilities |
5,049,323 |
4,930,415 |
|
|
|
|
Provisions |
120,699 |
120,699 |
|
------------ |
------------ |
Net assets |
4,928,624 |
4,809,716 |
|
------------ |
------------ |
|
|
|
Capital and reserves
Called up share capital |
1,000 |
1,000 |
Profit and loss account |
4,927,624 |
4,808,716 |
|
------------ |
------------ |
Shareholders funds |
4,928,624 |
4,809,716 |
|
------------ |
------------ |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
10 September 2024
, and are signed on behalf of the board by:
Company registration number:
02868980
Trees Park (Callands) Limited |
|
Notes to the Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Abbey Healthcare, Sutherland House, 70 - 78 West Hendon Broadway, London, NW9 7BT.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Going concern
The company has made a profit for the year, has net assets and the directors have received group support accordingly the financial statements have been prepared on a going concern basis. The directors are satisfied that the company and group have the ability to meet its financial obligations as they fall due for a period of at least 12 months from the date of approval of the financial statement.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In preparing these financial statements, the directors have made the following judgements:- 1 Determine whether there are indicators of impairment of the tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty:- 2 Tangible fixed assets Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold property |
- |
1% straight line |
|
|
|
|
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
2
).
5.
Tangible assets
|
Freehold property |
|
£ |
Cost |
|
At 1 January 2023 and 31 December 2023 |
2,931,058 |
|
------------ |
Depreciation |
|
At 1 January 2023 |
322,441 |
Charge for the year |
29,311 |
|
------------ |
At 31 December 2023 |
351,752 |
|
------------ |
Carrying amount |
|
At 31 December 2023 |
2,579,306 |
|
------------ |
At 31 December 2022 |
2,608,617 |
|
------------ |
|
|
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
6,222,760 |
6,034,746 |
|
------------ |
------------ |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
2,031,596 |
1,997,910 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
1,718,329 |
1,712,220 |
Social security and other taxes |
418 |
418 |
Other creditors |
2,400 |
2,400 |
|
------------ |
------------ |
|
3,752,743 |
3,712,948 |
|
------------ |
------------ |
|
|
|
Bank loans and overdrafts are secured against the assets to which they relate.
8.
Summary audit opinion
The auditor's report dated
25 September 2024
was
unqualified
.
The senior statutory auditor was
Jonathan Day
, for and on behalf of
Streets Audit LLP
.
9.
Controlling party
The company was under the control of the Trustees of the Prabhdyal Sodhi Overseas Settlement throughout the year, an entity based in Gibraltar. The immediate parent company is Lansbury Limited, a company incorporated in Gibraltar.