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Registration number: 12953144

Cambridge Park Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Cambridge Park Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Cambridge Park Limited

Company Information

Directors

Dr Mingju Li

Mr Chunyi Jiang

Registered office

Unit 4m
Crossley Park
Crossley Road
Heaton Chapel
Stockport
SK4 5BF

Accountants

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Cambridge Park Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cambridge Park Limited for the year ended 30 June 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Cambridge Park Limited, as a body, in accordance with the terms of our engagement letter dated 9 January 2023. Our work has been undertaken solely to prepare for your approval the accounts of Cambridge Park Limited and state those matters that we have agreed to state to the Board of Directors of Cambridge Park Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cambridge Park Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cambridge Park Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Cambridge Park Limited. You consider that Cambridge Park Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Cambridge Park Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

25 March 2025

 

Cambridge Park Limited

(Registration number: 12953144)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

18,862,150

5,086,916

Current assets

 

Debtors

5

124,378

16,826

Cash at bank and in hand

 

545,694

265,085

 

670,072

281,911

Creditors: Amounts falling due within one year

6

(17,591,076)

(5,140,474)

Net current liabilities

 

(16,921,004)

(4,858,563)

Net assets

 

1,941,146

228,353

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

1,941,046

228,253

Shareholders' funds

 

1,941,146

228,353

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

.........................................
Dr Mingju Li
Director

 

Cambridge Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4m
Crossley Park
Crossley Road
Heaton Chapel
Stockport
SK4 5BF
United Kingdom

These financial statements were authorised for issue by the Board on 25 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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 taxable income.

 

Cambridge Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for rental income in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 July

5,086,916

Additions

13,775,234

At 30 June

18,862,150

 

Cambridge Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

At the year end the director has valued investment properties held by the company at £18,862,150 (2023: £5,086,916). The valuation is based on market values of similar properties in the surrounding area.

If the investment properties had been accounted for under the historic cost accounting rules, the value would be £18,862,150 (2023: £5,086,916).

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

104,622

3,243

Amounts owed by related parties

8

-

9,384

Other debtors

 

19,756

4,199

   

124,378

16,826

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

37,422

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

16,508,399

4,180,000

Taxation and social security

 

-

7,721

Accruals and deferred income

 

111,833

135,583

Other creditors

 

933,422

817,170

 

17,591,076

5,140,474

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Related party transactions

The company has taken advantage of the exemption conferred by section 1A of FRS 102 not to disclose transactions with wholly owned members of the group headed by Silverstone Property Holdings Ltd.

 

Cambridge Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Parent and ultimate parent undertaking

The company's immediate parent is Silverstone Property Holdings Ltd, incorporated in England and Wales.