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REGISTERED NUMBER: 04810583 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 May 2024

for

White Park Properties Limited

White Park Properties Limited (Registered number: 04810583)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


White Park Properties Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: G C Lewis
Mrs W M Hunter





SECRETARY: Mrs W M Hunter





REGISTERED OFFICE: Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN





REGISTERED NUMBER: 04810583 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

White Park Properties Limited (Registered number: 04810583)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,299 51,887
Investment property 5 5,000,000 3,500,000
5,039,299 3,551,887

CURRENT ASSETS
Debtors 6 169,491 567,655
Cash at bank 551,331 748,905
720,822 1,316,560
CREDITORS
Amounts falling due within one year 7 427,332 496,575
NET CURRENT ASSETS 293,490 819,985
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,332,789

4,371,872

CREDITORS
Amounts falling due after more than one
year

8

(994,633

)

(1,448,286

)

PROVISIONS FOR LIABILITIES (521,035 ) (146,682 )
NET ASSETS 3,817,121 2,776,904

CAPITAL AND RESERVES
Called up share capital 9 2 2
Fair value reserve 10 1,514,889 389,889
Retained earnings 2,302,230 2,387,013
SHAREHOLDERS' FUNDS 3,817,121 2,776,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

White Park Properties Limited (Registered number: 04810583)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by:





Mrs W M Hunter - Director


White Park Properties Limited (Registered number: 04810583)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

White Park Properties 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold - remaining term of lease
Plant & machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Long leasehold assets represent the tenants improvements to the Company's site occupied under a twenty year lease commencing in January 2011. The lease included an option to purchase, exercisable within the first three years and the directors fully intended to exercise this option.

Depreciation has not previously been provided as it was felt that the marriage value obtained on a purchase would outweigh any depreciation during the initial period. The option to purchase has now lapsed and so the lease interest is now being depreciated in full over its remaining term to January 2031.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

White Park Properties Limited (Registered number: 04810583)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

White Park Properties Limited (Registered number: 04810583)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 285,100
DEPRECIATION
At 1 June 2023 233,213
Charge for year 12,588
At 31 May 2024 245,801
NET BOOK VALUE
At 31 May 2024 39,299
At 31 May 2023 51,887

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 3,500,000
Revaluations 1,500,000
At 31 May 2024 5,000,000
NET BOOK VALUE
At 31 May 2024 5,000,000
At 31 May 2023 3,500,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2023 519,852
Valuation in 2024 1,500,000
Cost 2,980,148
5,000,000

White Park Properties Limited (Registered number: 04810583)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 3,120,258 3,120,258
Aggregate depreciation (140,110 ) (140,110 )

Investment property was valued on and open market basis on 31 May 2024 by the Directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 153,065 327,770
Other debtors 16,426 239,885
169,491 567,655

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 698 2,108
Taxation and social security 157,902 219,467
Other creditors 268,732 275,000
427,332 496,575

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Other creditors 994,633 1,448,286

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
200 Ordinary shares £0.01 2 2

10. RESERVES
Fair
value
reserve
£   
At 1 June 2023 389,889
Transfers 1,125,000

At 31 May 2024 1,514,889