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REGISTERED NUMBER: 09002362 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

MEREPARK GILLIBRANDS LIMITED

MEREPARK GILLIBRANDS LIMITED (REGISTERED NUMBER: 09002362)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEREPARK GILLIBRANDS LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R J E Peel
R H Ross





REGISTERED OFFICE: 8-10 Old Market Place
Altrincham
WA14 4DF





REGISTERED NUMBER: 09002362 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
3rd Floor
St George's House
56 Peter Street
Manchester
M2 3NQ

MEREPARK GILLIBRANDS LIMITED (REGISTERED NUMBER: 09002362)

Balance Sheet
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 930,000 1,745,000

CURRENT ASSETS
Debtors 5 94,619 59,250
Cash at bank 7,826 9,869
102,445 69,119
CREDITORS
Amounts falling due within one year 6 733,727 1,238,227
NET CURRENT LIABILITIES (631,282 ) (1,169,108 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

298,718

575,892

CREDITORS
Amounts falling due after more than one
year

7

236,133

236,133
NET ASSETS 62,585 339,759

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 8 - 61,614
Retained earnings 62,385 277,945
62,585 339,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

MEREPARK GILLIBRANDS LIMITED (REGISTERED NUMBER: 09002362)

Balance Sheet - continued
30 APRIL 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 by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





R J E Peel - Director


MEREPARK GILLIBRANDS LIMITED (REGISTERED NUMBER: 09002362)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Merepark Gillibrands 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.

Turnover
Rental income from investment property is recognised in the profit or loss on a straight line basis over the lease term. Contingent rents, such as turnover rents, rent reviews and indexation, are recorded as income in the periods in which they are earned. Rent reviews are recognised when such reviews have been agreed with tenants. Surrender premiums receivable are recognised on completion of the surrender.

Where a rent free period is included in a lease, the rental income foregone is allocated evenly over the period from the date of lease commencement to the earlier of the first break option or the lease termination date.

Lease incentives and costs associated with entering into tenant leases are amortised over the period from the date of lease commencement to the earlier of the first break option or the lease termination date. Property operating expenses are expensed as incurred and any property operating expenditure not recovered from tenants through service charges is charged to profit or loss.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Financial instruments
The Company only 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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


MEREPARK GILLIBRANDS LIMITED (REGISTERED NUMBER: 09002362)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MEREPARK GILLIBRANDS LIMITED (REGISTERED NUMBER: 09002362)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 1,745,000
Disposals (646,614 )
Revaluations (168,386 )
At 30 April 2024 930,000
NET BOOK VALUE
At 30 April 2024 930,000
At 30 April 2023 1,745,000

The fair value of the freehold investment property of has been determined based on the sale value realised after the reporting period. These properties were sold subsequent to the year-end, and the sale price provides the basis for the fair value estimate as of the reporting date. This approach reflects the most reliable evidence of the properties' market value as at the year end.

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 (168,386 )
Cost 1,098,386
930,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,000
Amounts owed by participating interests 4,120 920
Other debtors 90,499 57,330
94,619 59,250

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 173,673 652,380
Trade creditors 3,607 3,957
Amounts owed to related parties - 7,838
Taxation and social security 9,526 11,262
Other creditors 546,921 562,790
733,727 1,238,227

MEREPARK GILLIBRANDS LIMITED (REGISTERED NUMBER: 09002362)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 236,133 236,133

The RBS bank loan is secured on the land at Keepers Wood Way, Gillibrand Way, Chorley and associated assets.

The Axis Bank UK Limited bank loans are secured on the land at plot 4, Higher Heath, Knutsford Road, Cranage, Crewe, Cheshire; and fixed charges exist.

8. RESERVES
Revaluation
reserve
£   
At 1 May 2023 61,614
Disposals (61,614 )

At 30 April 2024 -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the balance due to directors was £252,350 (2023: £252,350). This amount is included within Other creditors.

10. NON-ADJUSTING POST BALANCE SHEET EVENTS

Subsequent to the year-end but prior to the issuance of the financial statements, the company sold its remaining freehold commercial investment. The consideration received for the sale of the property was £385,000.

11. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by the directors of the company, Richard Peel and Robert Ross.