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Registered number: 10788193














PARK PROPERTY INVESTMENTS UK LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 MAY 2024

 
PARK PROPERTY INVESTMENTS UK LIMITED
 

CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7


 
PARK PROPERTY INVESTMENTS UK LIMITED
REGISTERED NUMBER:10788193

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
804,044
804,044

Current assets
  

Debtors: amounts falling due within one year
 6 
-
2,332

Cash at bank and in hand
  
10,800
190

  
10,800
2,522

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(491,591)
(476,585)

Net current liabilities
  
 
 
(480,791)
 
 
(474,063)

Total assets less current liabilities
  
323,253
329,981

Creditors: amounts falling due after more than one year
 8 
(313,195)
(333,596)

Net assets/(liabilities)
  
10,058
(3,615)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
9,958
(3,715)

  
10,058
(3,615)


Page 1

 
PARK PROPERTY INVESTMENTS UK LIMITED
REGISTERED NUMBER:10788193
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 February 2025.



G Park
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PARK PROPERTY INVESTMENTS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Park Property Investments UK Limited is a private limited liability company incorporated in England and Wales, with its registered office address at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.

The principal activity of the Company is property investment.

The functional and presentational currency of the Company is £ sterling. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the directors.. In the opinion of the directors, the Company will continue to receive such financial support as may be required to enable it to meet its liabilities for at least 12 months following the date of their approval of the financial statements.

 
2.3

Turnover

Turnover comprises rents receivable for the year, exclusive of Value Added Tax which are recognised in the period to which they relate.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


Page 3

 
PARK PROPERTY INVESTMENTS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%
Straight line

 
2.8

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income

 
2.9

Debtors

Short term debtors are measured at the transaction price

 
2.10

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
PARK PROPERTY INVESTMENTS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 June 2023
850



At 31 May 2024

850



Depreciation


At 1 June 2023
850



At 31 May 2024

850



Net book value



At 31 May 2024
-



At 31 May 2023
-


5.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 June 2023
631,664
172,380
804,044



At 31 May 2024
631,664
172,380
804,044

The 2024 valuations were made by directors, on an open market value for existing use basis.





6.


Debtors

2024
2023
£
£

Trade debtors
-
2,332


Page 5

 
PARK PROPERTY INVESTMENTS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
14,218
11,330

Corporation tax
3,229
-

Taxation and social security
374
374

Other creditors
466,400
459,851

Accruals and deferred income
7,370
5,030

491,591
476,585



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
313,195
333,596



9.


Loans


2024
2023
£
£

Amounts falling due within one year

Bank loans
14,218
11,330

Amounts falling due 1-2 years

Bank loans
14,218
13,316

Amounts falling due 2-5 years

Bank loans
42,655
44,610

Amounts falling due after more than 5 years

Bank loans
256,320
275,669

327,411
344,925


The Company's bank facilities are secured by a first charge on the freehold and leasehold property and a
debenture over the assets of the company.

Page 6

 
PARK PROPERTY INVESTMENTS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



11.Directors' personal guarantees

The directors have provided a personal guarantee as security for the Company's bank loan facilities.

 
Page 7