Company registration number 02482654 (England and Wales)
GRAHAM E PARK (HOLDINGS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
GRAHAM E PARK (HOLDINGS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
GRAHAM E PARK (HOLDINGS) LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
219,598
227,385
Investment properties
6
1,473,809
1,473,809
Investments
5
100
100
1,693,507
1,701,294
Current assets
Debtors
7
251,654
194,969
Cash at bank and in hand
49,933
93,645
301,587
288,614
Creditors: amounts falling due within one year
8
(94,147)
(142,606)
Net current assets
207,440
146,008
Total assets less current liabilities
1,900,947
1,847,302
Creditors: amounts falling due after more than one year
9
(60,560)
(76,792)
Provisions for liabilities
(7,577)
(8,698)
Net assets
1,832,810
1,761,812
Capital and reserves
Called up share capital
10
500,000
500,000
Fair value reserve
688,001
688,001
Profit and loss reserves
644,809
573,811
Total equity
1,832,810
1,761,812
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
GRAHAM E PARK (HOLDINGS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 13 March 2025 and are signed on its behalf by:
Mr G Park
Director
Company Registration No. 02482654
GRAHAM E PARK (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Graham E Park (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bentworth, Lees Lane, Newton, Adlington, Macclesfield, Cheshire, United Kingdom, SK10 4LL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rents from investment properties during the year.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
- 20% Reducing Balance
Fixtures, fittings & equipment
- 20% Reducing Balance
Motor vehicles
- 25% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
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. The surplus or deficit on revaluation is recognised in profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
GRAHAM E PARK (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company only has financial assets (debtors, cash and bank balance) and liabilities (creditors and accruals) of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently measured at their settlement value.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.10
The financial statements have been prepared based on the assumption there there will be no payments made for group relief surrendered.
GRAHAM E PARK (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
220,629
152,244
372,873
Depreciation and impairment
At 1 July 2023
15,657
129,831
145,488
Depreciation charged in the year
3,304
4,483
7,787
At 30 June 2024
18,961
134,314
153,275
Carrying amount
At 30 June 2024
201,668
17,930
219,598
At 30 June 2023
204,972
22,413
227,385
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
GRAHAM E PARK (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
6
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
1,473,807
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,580
Amounts owed by group undertakings
248,012
194,904
Other debtors
62
65
251,654
194,969
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
16,258
15,761
Trade creditors
11,682
4,981
Taxation and social security
10,640
7,880
Other creditors
55,567
113,984
94,147
142,606
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
60,560
76,792
Bank loans are secured against the assets of the company.
GRAHAM E PARK (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
222,334
222,334
222,434
222,434
Ordinary B shares of £1 each
166,666
166,666
166,666
166,666
Ordinary C shares of £1 each
33,300
33,300
33,300
33,300
Ordinary D shares of £1 each
33,300
33,300
33,300
33,300
Ordinary E shares of £1 each
33,300
33,300
33,300
33,300
Ordinary F shares of £1 each
5,550
5,550
5,500
5,500
Ordinary G shares of £1 each
5,550
5,550
5,500
5,500
500,000
500,000
500,000
500,000