2023-02-272024-02-262024-02-26false10006405THREE RIVERS PARK 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THREE RIVERS PARK LIMITED

Registered Number
10006405
(England and Wales)

Unaudited Financial Statements for the Year ended
26 February 2024

THREE RIVERS PARK LIMITED
Company Information
for the year from 27 February 2023 to 26 February 2024

Directors

TAPSELL, Andrew Alfred
TAPSELL, Rebby Robert

Registered Address

Cornerstones House Church Street
Addingham
Ilkey
LD29 0QS

Registered Number

10006405 (England and Wales)
THREE RIVERS PARK LIMITED
Statement of Financial Position
26 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,780,4933,624,918
3,780,4933,624,918
Current assets
Stocks4229,279413,430
Debtors5298,834534,731
Cash at bank and on hand125,946336,241
654,0591,284,402
Creditors amounts falling due within one year6(2,154,661)(2,999,712)
Net current assets (liabilities)(1,500,602)(1,715,310)
Total assets less current liabilities2,279,8911,909,608
Creditors amounts falling due after one year7(15,000)(25,000)
Net assets2,264,8911,884,608
Capital and reserves
Called up share capital11
Profit and loss account2,264,8901,884,607
Shareholders' funds2,264,8911,884,608
The financial statements were approved and authorised for issue by the Board of Directors on 19 November 2024, and are signed on its behalf by:
TAPSELL, Rebby Robert
Director
Registered Company No. 10006405
THREE RIVERS PARK LIMITED
Notes to the Financial Statements
for the year ended 26 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The ultimate parent undertaking is Cornerstones Holdings Limited, a company registered in England & Wales. It trades from its registered office address at Cornerstones House, Church Street, Addingham, LS29 0QS.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on the following basis: Land and buildings - 2% straight line Plant and machinery - between 10% and 33.3% straight line Motor vehicles - 25% straight line and 25% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year87
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 27 February 233,736,72783,28748,3153,868,329
Additions157,970-41,788199,758
At 26 February 243,894,69783,28790,1034,068,087
Depreciation and impairment
At 27 February 23147,73957,94237,730243,411
Charge for year25,7755,20413,20444,183
At 26 February 24173,51463,14650,934287,594
Net book value
At 26 February 243,721,18320,14139,1693,780,493
At 26 February 233,588,98825,34510,5853,624,918
Included in land & buildings is land with an estimated cost of £1,700,000 which is not depreciated. Included in land & buildings is new development cost of £905,923 which is not depreciated.
4.Stocks
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, 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 the Income Statement.

2024

2023

££
Finished goods229,279413,430
Total229,279413,430
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables298,834534,731
Total298,834534,731
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables173,371525,064
Bank borrowings and overdrafts103,372179,480
Amounts owed to related parties1,658,1411,954,598
Taxation and social security196,815325,333
Other creditors3,2283,228
Accrued liabilities and deferred income19,73412,009
Total2,154,6612,999,712
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The following liabilities disclosed under creditors falling due within one year are secured by the company: Bank loans £93,372 (2023 - £169,480)
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts15,00025,000
Total15,00025,000
8.Operating lease commitments
At 26 February 2024 the company had future minimum lease payments under non-cancellable operating leases for each of the following periods: Not later than 1 year £10,302 (2023 - £nil) Later than 1 year and not later than 5 years £859 (2023 - £nil)
9.Related party transactions
The company has taken advantage of the exemption contained in Section 33 of Financial Reporting Standard 102 'Related Party Disclosures' from disclosing transactions with entities which are part of the group, since 100% of the voting rights in the company are controlled within the group. Included within other creditors is an amount of £3,228 (2023 - £3,228) due to A Tapsell. The amount is interest free and payable on demand.