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Registered number: 11229775









MAIDEN PARK RESIDENCE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
MAIDEN PARK RESIDENCE LIMITED
REGISTERED NUMBER: 11229775

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
As restated 2023
Note
£
£

Fixed assets
  

Investments
 4 
7,170,936
7,382,863

  
7,170,936
7,382,863

Current assets
  

Debtors: amounts falling due within one year
 5 
28,000
20,263

Cash at bank and in hand
  
1,626
388

  
29,626
20,651

Creditors: amounts falling due within one year
 6 
(11,379,459)
(11,220,847)

Net current liabilities
  
 
 
(11,349,833)
 
 
(11,200,196)

Total assets less current liabilities
  
(4,178,897)
(3,817,333)

  

Net liabilities
  
(4,178,897)
(3,817,333)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(4,178,898)
(3,817,334)

  
(4,178,897)
(3,817,333)


Page 1

 
MAIDEN PARK RESIDENCE LIMITED
REGISTERED NUMBER: 11229775
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

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 income and retained earnings 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 by: 






G D Thwaites
Director

Date: 5 March 2025

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

Page 2

 
MAIDEN PARK RESIDENCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The Company is a private company limited by shares and is incorporated in England and Wales.
The principal activity of the Company is that of property development.
The Registered Office address is 35 Ballards Lane, London, N3 1XW.

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 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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as in the opinion of the directors the company has sufficient access to funds to cover the liabilities of the company.
The company has made a loss in the year and has net current liabilities. The company relies on the support of a group entity which has confirmed its intention to provide support for a period of twelve months from the date of signing of the accounts. 

 
2.3

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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

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.

 
2.6

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties, loans and related parties and investments in non-puttable ordinary shares.
(i) Financial assets
Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement consitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
 
Page 3

 
MAIDEN PARK RESIDENCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the statement of comprehensive income.
(ii) Financial liabilities
Basic financial liabilities, including trade and other payables and loans from fellow group companies 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 receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 
Basic debt instruments, including basic loans, are required to be measured at amortised cost using the effective interest method. For debt instruments provided at a below-market interest rate, consideration has been given to the appropriate rate to be used in the discounting of these debt instruments. An interest rate that is considered to be appropriate, taking into account third party rates, has been adopted in the discounting of the interest free loans.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
MAIDEN PARK RESIDENCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 August 2023
9,710,100



At 31 July 2024

9,710,100



Impairment


At 1 August 2023
2,327,237


Charge for the period
211,927



At 31 July 2024

2,539,164



Net book value



At 31 July 2024
7,170,936



At 31 July 2023
7,382,863


5.


Debtors

2024
2023
£
£


Amounts owed by joint ventures and associated undertakings
30
-

Other debtors
27,537
20,263

Prepayments and accrued income
433
-

28,000
20,263


Page 5

 
MAIDEN PARK RESIDENCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Creditors: Amounts falling due within one year

2024
As restated 2023
£
£

Amounts owed to group undertakings
11,372,859
11,212,369

Accruals and deferred income
6,600
8,478

11,379,459
11,220,847



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



8.


Prior year adjustment

During 2024 it came to light that the Cost of Sales figure when a property was sold in 2021 was overstated by £300,000. This has been corrected in the current year and the prior year figures restated to reflect the adjustment.
The impact of this restatement is to increase retained earnings by £300,000 and decrease the intercompany balance by the same amount. 


9.Other financial commitments

There is a loan in MPR Subco Limited has been secured by a third party legal charge over the freehold interest of Maidenhead from the Company.


10.


Related party transactions

Where possible the Company has taken advantage of the exemption conferred by FRS 102 section 33.1A from the requirement to disclose transactions with other wholly owned group undertakings on the grounds that consolidated financial statements are prepared by the parent company and are publicly available.


11.


Controlling party

The parent undertaking is Tranos (UK) Limited.
The registered office and principal place of business is 35 Ballards Lane, London, N3 1XW.

Page 6

 
MAIDEN PARK RESIDENCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 5 March 2025 by Nick Bishop FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 7