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REGISTERED NUMBER: 01009712 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

H.& G.CAR PARKS LIMITED

H.& G.CAR PARKS LIMITED (REGISTERED NUMBER: 01009712)

Contents of the Financial Statements
for the year ended 31 July 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


H.& G.CAR PARKS LIMITED

Company Information
for the year ended 31 July 2024







Director: Mr G J Perkins





Secretary: Mr M W Perkins





Registered office: 3rd Floor
86 - 90 Paul Street
London
EC2A 4NE





Registered number: 01009712 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

H.& G.CAR PARKS LIMITED (REGISTERED NUMBER: 01009712)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 16,650,634 15,091,318
Investments 5 11,283,673 10,901,403
27,934,307 25,992,721

Current assets
Debtors 6 895,844 887,197
Cash at bank 1,787,387 379,761
2,683,231 1,266,958
Creditors
Amounts falling due within one year 7 2,545,179 705,044
Net current assets 138,052 561,914
Total assets less current liabilities 28,072,359 26,554,635

Creditors
Amounts falling due after more than one
year

8

(5,256,284

)

(4,251,483

)

Provisions for liabilities 10 (2,219,165 ) (2,225,263 )
Net assets 20,596,910 20,077,889

Capital and reserves
Called up share capital 11 100 100
Revaluation reserve 12 8,779,152 8,779,152
Retained earnings 12 11,817,658 11,298,637
Shareholders' funds 20,596,910 20,077,889

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

H.& G.CAR PARKS LIMITED (REGISTERED NUMBER: 01009712)

Balance Sheet - continued
31 July 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 director and authorised for issue on 10 April 2025 and were signed by:





Mr G J Perkins - Director


H.& G.CAR PARKS LIMITED (REGISTERED NUMBER: 01009712)

Notes to the Financial Statements
for the year ended 31 July 2024


1. Statutory information

H.& G.Car Parks 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

H.& G.CAR PARKS LIMITED (REGISTERED NUMBER: 01009712)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

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.

Investments
Investments held as fixed assets are held at current market value.

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

H.& G.CAR PARKS LIMITED (REGISTERED NUMBER: 01009712)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


4. Tangible fixed assets
Freehold Fixtures
investment Plant and and
property machinery fittings Totals
£    £    £    £   
Cost or valuation
At 1 August 2023 14,968,846 230,797 24,757 15,224,400
Additions 1,583,811 - - 1,583,811
At 31 July 2024 16,552,657 230,797 24,757 16,808,211
Depreciation
At 1 August 2023 - 111,505 21,577 133,082
Charge for year - 23,859 636 24,495
At 31 July 2024 - 135,364 22,213 157,577
Net book value
At 31 July 2024 16,552,657 95,433 2,544 16,650,634
At 31 July 2023 14,968,846 119,292 3,180 15,091,318

The freehold investment property was revalued by the directors during the year to reflect the market value.


5. Fixed asset investments
Shares in
group Other
undertakings investments Totals
£    £    £   
Cost or valuation
At 1 August 2023 187,500 10,713,903 10,901,403
Additions - 382,270 382,270
At 31 July 2024 187,500 11,096,173 11,283,673
Net book value
At 31 July 2024 187,500 11,096,173 11,283,673
At 31 July 2023 187,500 10,713,903 10,901,403

Cost or valuation at 31 July 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2017 - 6,577,403 6,577,403
Valuation in 2018 - 171,760 171,760
Valuation in 2019 - 1,360,957 1,360,957
Valuation in 2020 - (2,206,527 ) (2,206,527 )
Valuation in 2021 - 255,446 255,446
Valuation in 2022 - 606,768 606,768
Valuation in 2023 - 246,911 246,911
Valuation in 2024 - 382,270 382,270
Cost 187,500 3,701,185 3,888,685
187,500 11,096,173 11,283,673

H.& G.CAR PARKS LIMITED (REGISTERED NUMBER: 01009712)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 19,418 24,071
Amounts owed by group undertakings - 98,554
Other debtors 876,426 764,572
895,844 887,197

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 119,776 119,776
Trade creditors 37,460 36,711
Amounts owed to group undertakings 712,705 236,000
Taxation and social security 30,728 156,623
Other creditors 1,644,510 155,934
2,545,179 705,044

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 2,635,987 2,741,291
Amounts owed to group undertakings 2,620,297 1,510,192
5,256,284 4,251,483

9. Secured debts

An unlimited cross guarantee exists between Step Property Limited and H&G Car Parks Limited. These are both subsidiaries of Step Property Group Limited.

Creditors for which security has been given amounted to £2,755,763 (2023 - £2,861,066 ). The bank loans are secured on the investment properties held by the company.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 2,219,165 2,225,263

Deferred
tax
£   
Balance at 1 August 2023 2,225,263
Provided during year (6,098 )
Balance at 31 July 2024 2,219,165

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

H.& G.CAR PARKS LIMITED (REGISTERED NUMBER: 01009712)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


12. Reserves
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 August 2023 11,298,637 8,779,152 20,077,789
Profit for the year 519,021 519,021
At 31 July 2024 11,817,658 8,779,152 20,596,810

13. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mr G J Perkins
Balance outstanding at start of year 217,504 205,489
Amounts advanced 223 12,015
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 217,727 217,504

14. Related party disclosures

H&G Car Parks Limited is a subsidiary of Step Property Group Limited, included in the accounts are balances due to/from related companies Horton Leisure Limited and Step Property Limited, companies registered in England and Wales which form part of the Step Property Group, summarised as follows:



Amounts due
from Associated
Companies
Amounts due
to Associated
Companies
Step Property Limited £476,705
Step Property Group Limited £236,000
Step Property Finance Limited £2,620,297

Included within other debtors are loans to Mr M W Perkins £1,000 (2023 - £1,000), Mrs S Perkins £10,000 (2023 - £10,000) and Mrs H Perkins £10,000 (2023 - £10,000). These are close relatives to the company directors.

During the year H&G Car Parks Limited incurred management charges of £75,000 (2023 - £75,000) from Step Property Limited.

15. Ultimate controlling party

The company is controlled by the directors of Step Property Group Limited, the ultimate parent company.