Caseware UK (AP4) 2023.0.135 2023.0.135 2024-11-302024-11-30truefalse2023-12-0155falseNo description of principal activity55false SC170546 2023-12-01 2024-11-30 SC170546 2022-12-01 2023-11-30 SC170546 2024-11-30 SC170546 2023-11-30 SC170546 2022-12-01 SC170546 1 2023-12-01 2024-11-30 SC170546 1 2022-12-01 2023-11-30 SC170546 5 2023-12-01 2024-11-30 SC170546 5 2022-12-01 2023-11-30 SC170546 d:CompanySecretary1 2023-12-01 2024-11-30 SC170546 d:Director1 2023-12-01 2024-11-30 SC170546 d:Director2 2023-12-01 2024-11-30 SC170546 d:RegisteredOffice 2023-12-01 2024-11-30 SC170546 e:Buildings 2023-12-01 2024-11-30 SC170546 e:Buildings 2024-11-30 SC170546 e:Buildings 2023-11-30 SC170546 e:Buildings e:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 SC170546 e:MotorVehicles 2023-12-01 2024-11-30 SC170546 e:MotorVehicles 2024-11-30 SC170546 e:MotorVehicles 2023-11-30 SC170546 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 SC170546 e:FurnitureFittings 2023-12-01 2024-11-30 SC170546 e:FurnitureFittings 2024-11-30 SC170546 e:FurnitureFittings 2023-11-30 SC170546 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 SC170546 e:OfficeEquipment 2023-12-01 2024-11-30 SC170546 e:OfficeEquipment 2024-11-30 SC170546 e:OfficeEquipment 2023-11-30 SC170546 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 SC170546 e:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 SC170546 e:Goodwill 2023-12-01 2024-11-30 SC170546 e:Goodwill 2024-11-30 SC170546 e:Goodwill 2023-11-30 SC170546 e:CurrentFinancialInstruments 2024-11-30 SC170546 e:CurrentFinancialInstruments 2023-11-30 SC170546 e:CurrentFinancialInstruments e:WithinOneYear 2024-11-30 SC170546 e:CurrentFinancialInstruments e:WithinOneYear 2023-11-30 SC170546 e:ReportableOperatingSegment1 2023-12-01 2024-11-30 SC170546 e:ReportableOperatingSegment1 2022-12-01 2023-11-30 SC170546 e:UKTax 2023-12-01 2024-11-30 SC170546 e:UKTax 2022-12-01 2023-11-30 SC170546 e:ShareCapital 2024-11-30 SC170546 e:ShareCapital 2023-11-30 SC170546 e:ShareCapital 2022-12-01 SC170546 e:CapitalRedemptionReserve 2023-12-01 2024-11-30 SC170546 e:CapitalRedemptionReserve 2024-11-30 SC170546 e:CapitalRedemptionReserve 2023-11-30 SC170546 e:CapitalRedemptionReserve 2022-12-01 SC170546 e:RevaluationReserve 2023-12-01 2024-11-30 SC170546 e:RevaluationReserve 2024-11-30 SC170546 e:RevaluationReserve 5 2023-12-01 2024-11-30 SC170546 e:RevaluationReserve 2023-11-30 SC170546 e:RevaluationReserve 2022-12-01 SC170546 e:RetainedEarningsAccumulatedLosses 2023-12-01 2024-11-30 SC170546 e:RetainedEarningsAccumulatedLosses 2024-11-30 SC170546 e:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 SC170546 e:RetainedEarningsAccumulatedLosses 2023-11-30 SC170546 e:RetainedEarningsAccumulatedLosses 2022-12-01 SC170546 d:OrdinaryShareClass1 2023-12-01 2024-11-30 SC170546 d:OrdinaryShareClass1 2024-11-30 SC170546 d:OrdinaryShareClass1 2023-11-30 SC170546 d:FRS102 2023-12-01 2024-11-30 SC170546 d:Audited 2023-12-01 2024-11-30 SC170546 d:FullAccounts 2023-12-01 2024-11-30 SC170546 d:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC170546 e:AcceleratedTaxDepreciationDeferredTax 2024-11-30 SC170546 e:AcceleratedTaxDepreciationDeferredTax 2023-11-30 SC170546 e:OtherDeferredTax 2024-11-30 SC170546 e:OtherDeferredTax 2023-11-30 SC170546 2 2023-12-01 2024-11-30 SC170546 5 2023-12-01 2024-11-30 SC170546 f:PoundSterling 2023-12-01 2024-11-30 SC170546 e:RetainedEarningsAccumulatedLosses 5 2023-12-01 2024-11-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC170546










GREEN PARK LIMITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

 
GREEN PARK LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr A T McMenemie 
Mrs D McMenemie 




COMPANY SECRETARY
Mrs D McMenemie



REGISTERED NUMBER
SC170546



REGISTERED OFFICE
14 City Quay

Dundee

DD1 3JA




INDEPENDENT AUDITORS
Sumer Auditco Limited
Chartered Accountants & Statutory Auditors

14 City Quay

Dundee

DD1 3JA





 
GREEN PARK LIMITED
 

CONTENTS



Page
Strategic Report
1 - 2
Directors' Report
3 - 4
Independent Auditors' Report
5 - 8
Statement of Comprehensive Income
9
Statement of Financial Position
10 - 11
Statement of Changes in Equity
12
Statement of Cash Flows
13
Analysis of Net Debt
14
Notes to the Financial Statements
15 - 25


 
GREEN PARK LIMITED
 

STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

Introduction
 
The principal activity of the Company during the year was the operation of a country house hotel on the western outskirts of Pitlochry.

Business review
 
2024 was another successful trading year, with visitor numbers at healthy levels. As a family business we continue in our efforts to supply our guests with high standards of comfort and hospitality, and have achieved this through continued investment in the hotel and staff.

Principal risks and uncertainties
 
Commercial risks
Competitive pressures in the local area is a continuing challenge for the Company, which could result in it losing sales and staff to competitors.  The Company manages this risk by providing added value services to its customers, having fast response times in handling all customer queries and by maintaining strong relationships with its customers. Staff retention is a priority and the Green Park is recognised in the area as both a good employer, a competitive payer, and a supplier of good staff accommodation as demonstrated by the completion in 2023 of the hotel’s most recent staff block.
Environmental risks
The Company recognises the importance of its environmental responsibilities and monitors its impact on the environment by implementing any policies necessary to reduce any damage that might be caused by the Company's activities.
Health and safety legislation
The Company recognises the importance and implications of the Health & Safety at Work Act 1974, the Environmental Protection Legislation and all new Health and Safety legislation, including those being introduced through EU derivatives.  The Company holds regular meetings in which health and safety matters are discussed and any relevant information is filtered down to staff.

Page 1

 
GREEN PARK LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

Financial and other key performance indicators
 
The key financial indicators of the Company were as follows:


2024
2023
        £
        £
Turnover

3,465,980

3,354,300
 
Operating profit

572,877

556,269
 
Profit after taxation

437,370

434,621
 

With regard to other key performance indicators, we monitor the occupancy rates at the hotel on a monthly basis.
We also read and reply to all customer reviews, to allow us to monitor our customer service standards.


This report was approved by the board on 14 April 2025 and signed on its behalf.



Mr A T McMenemie
Director

Page 2

 
GREEN PARK LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

The directors present their report and the financial statements for the year ended 30 November 2024.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £437,370 (2023 - £434,621).

Dividends of £131,400 were paid in the year.

DIRECTORS

The directors who served during the year were:

Mr A T McMenemie 
Mrs D McMenemie 

FUTURE DEVELOPMENTS

Continued maintenance work will be carried out on the Green Park to ensure the standards that our guests have come to expect are upheld and to encourage new visitors to stay with us.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 3

 
GREEN PARK LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

POST BALANCE SHEET EVENTS

There have been no significant events affecting the Company since the year end.

AUDITORS

The auditorsSumer Auditco Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 14 April 2025 and signed on its behalf.
 





Mr A T McMenemie
Director

Page 4

 
GREEN PARK LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREEN PARK LIMITED
 

OPINION


We have audited the financial statements of Green Park Limited (the 'Company') for the year ended 30 November 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the Company's affairs as at 30 November 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 5

 
GREEN PARK LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREEN PARK LIMITED (CONTINUED)


OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 6

 
GREEN PARK LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREEN PARK LIMITED (CONTINUED)


AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.  As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 7

 
GREEN PARK LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREEN PARK LIMITED (CONTINUED)


USE OF OUR REPORT
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.




Douglas Rae (Senior Statutory Auditor)
  
for and on behalf of
Sumer Auditco Limited
 
Chartered Accountants
Statutory Auditors
  
14 City Quay
Dundee
DD1 3JA

15 April 2025
Page 8

 
GREEN PARK LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024
2023
£
£

  

Turnover
 3 
3,465,980
3,354,300

Cost of sales
  
(482,900)
(553,084)

Gross profit
  
2,983,080
2,801,216

Administrative expenses
  
(2,423,972)
(2,256,475)

Other operating income
 4 
13,769
11,528

Operating profit
 5 
572,877
556,269

Interest receivable and similar income
 9 
12,303
15,930

Interest payable and similar expenses
 10 
-
(44,978)

Profit before tax
  
585,180
527,221

Tax on profit
 11 
(147,810)
(92,600)

Profit for the financial year
  
437,370
434,621

Other comprehensive income for the year
  

Unrealised surplus on revaluation of tangible fixed assets
  
681,511
-

Other comprehensive income for the year
  
681,511
-

Total comprehensive income for the year
  
1,118,881
434,621

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

The notes on pages 15 to 25 form part of these financial statements.

Page 9

 
GREEN PARK LIMITED
REGISTERED NUMBER: SC170546

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 14 
5,507,478
4,582,022

  
5,507,478
4,582,022

Current assets
  

Stocks
 15 
31,092
30,273

Debtors: amounts falling due within one year
 16 
31,873
13,598

Cash at bank and in hand
  
1,225,025
1,035,719

  
1,287,990
1,079,590

Creditors: amounts falling due within one year
 17 
(634,658)
(717,155)

Net current assets
  
 
 
653,332
 
 
362,435

Total assets less current liabilities
  
6,160,810
4,944,457

Provisions for liabilities
  

Deferred tax
  
(374,488)
(145,616)

  
 
 
(374,488)
 
 
(145,616)

Net assets
  
5,786,322
4,798,841


Capital and reserves
  

Called up share capital 
 19 
41,665
41,665

Revaluation reserve
 20 
1,841,543
1,160,032

Capital redemption reserve
 20 
8,335
8,335

Profit and loss account
 20 
3,894,779
3,588,809

  
5,786,322
4,798,841


Page 10

 
GREEN PARK LIMITED
REGISTERED NUMBER: SC170546

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 April 2025.




Mr A T McMenemie
Director

The notes on pages 15 to 25 form part of these financial statements.

Page 11

 
GREEN PARK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024


Called up share capital
Capital redemption reserve
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 December 2022
41,665
8,335
1,160,032
3,283,588
4,493,620



Profit for the year
-
-
-
434,621
434,621

Dividends: Equity capital
-
-
-
(129,400)
(129,400)



At 1 December 2023
41,665
8,335
1,160,032
3,588,809
4,798,841



Profit for the year
-
-
-
437,370
437,370

Surplus on revaluation of freehold property
-
-
681,511
-
681,511

Dividends: Equity capital
-
-
-
(131,400)
(131,400)


At 30 November 2024
41,665
8,335
1,841,543
3,894,779
5,786,322


The notes on pages 15 to 25 form part of these financial statements.

Page 12

 
GREEN PARK LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
437,370
434,621

Adjustments for:

Depreciation of tangible assets
35,705
34,603

Loss on disposal of tangible assets
12
-

Interest paid
-
44,978

Interest received
(12,303)
(15,930)

Taxation charge
147,810
92,600

(Increase) in stocks
(819)
(2,442)

(Increase)/decrease in debtors
(18,275)
28,238

(Decrease)/increase in creditors
(137,907)
52,475

Corporation tax (paid)
(89,504)
(90,307)

Net cash generated from operating activities

362,089
578,836


Cash flows from investing activities

Purchase of tangible fixed assets
(53,686)
(425,972)

Interest received
12,303
15,930

Net cash from investing activities

(41,383)
(410,042)

Cash flows from financing activities

Repayment of loans
-
(643,547)

Dividends paid
(131,400)
(129,400)

Interest paid
-
(44,978)

Net cash used in financing activities
(131,400)
(817,925)

Net increase/(decrease) in cash and cash equivalents
189,306
(649,131)

Cash and cash equivalents at beginning of year
1,035,719
1,684,850

Cash and cash equivalents at the end of year
1,225,025
1,035,719


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,225,025
1,035,719

1,225,025
1,035,719


The notes on pages 15 to 25 form part of these financial statements.

Page 13

 
GREEN PARK LIMITED
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 NOVEMBER 2024




At 1 December 2023
Cash flows
At 30 November 2024
£

£

£

Cash at bank and in hand

1,035,719

189,306

1,225,025

Debt due within 1 year

(201,282)

128,846

(72,436)


834,437
318,152
1,152,589

The notes on pages 15 to 25 form part of these financial statements.

Page 14

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General Information

Green Park Limited is a private company, limited by shares, domiciled in Scotland with registration number SC170546.  The registered office is 14 City Quay, Dundee, DD1 3JA. The trading address is Clunie Bridge Road, Pitlochry, PH16 5YJ.

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 financial statements are presented in Sterling and rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.



Page 15

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting Policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 16

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Heritable property
-
Not depreciated
Motor vehicles
-
25%
Fixtures and fittings
-
10%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

No depreciation is provided on the heritable property in the current or prior year as the directors are of the opinion that the residual value of the heritable property is in excess of the net book value.

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Page 17

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting Policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Hotel Income
3,465,980
3,354,300

3,465,980
3,354,300


All turnover arose within the United Kingdom.


4.


Other operating income

2024
2023
£
£

Net rents receivable
12,000
10,800

Commissions receivable
1,769
728

13,769
11,528



5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
35,705
34,603

Profit/loss on sale of tangible fixed assets
12
-

Page 18

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
9,000
8,000

7.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
1,312,052
1,236,310

Social security costs
126,050
109,259

Cost of defined contribution scheme
121,847
120,321

1,559,949
1,465,890


The average monthly number of employees, including directors, during the year was 55 (2023 - 55).


8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
24,771
24,720

Company contributions to defined contribution pension schemes
100,000
100,000

124,771
124,720


During the year retirement benefits were accruing to 2 directors (2023 - 2) in respect of defined contribution pension schemes.


9.


Interest receivable

2024
2023
£
£


Other interest receivable
12,303
15,930

12,303
15,930

Page 19

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

10.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
-
44,978

-
44,978


11.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
144,914
89,504


144,914
89,504


Total current tax
144,914
89,504

Deferred tax


Origination and reversal of timing differences
2,896
3,096

Total deferred tax
2,896
3,096


147,810
92,600

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
585,180
527,221


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
146,295
131,805

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
185
192

Capital allowances for year in excess of depreciation
(1,566)
(34,757)

Short-term timing difference leading to an increase (decrease) in taxation
2,896
3,096

Change in tax rates during the year
-
(7,736)

Total tax charge for the year
147,810
92,600

Page 20

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
 
11.Taxation (continued)


Factors that may affect future tax charges

The only factors expected to affect tax charges are those imposed by HMRC.


12.


Dividends

2024
2023
£
£


Ordinary Shares
131,400
129,400

131,400
129,400


13.


Intangible assets




Goodwill

£





At 1 December 2023
70,000


Disposals
(70,000)



At 30 November 2024

-





At 1 December 2023
70,000


On disposals
(70,000)



At 30 November 2024

-



Net book value



At 30 November 2024
-



At 30 November 2023
-



Page 21

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

14.


Tangible fixed assets





Heritable property
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 December 2023
4,302,225
23,048
1,200,115
39,275
5,564,663


Additions
9,025
-
40,392
4,269
53,686


Disposals
-
-
(180)
-
(180)


Revaluations
907,487
-
-
-
907,487



At 30 November 2024

5,218,737
23,048
1,240,327
43,544
6,525,656



Depreciation


At 1 December 2023
-
13,074
933,694
35,873
982,641


Charge for the year on owned assets
-
2,494
30,680
2,531
35,705


Disposals
-
-
(168)
-
(168)



At 30 November 2024

-
15,568
964,206
38,404
1,018,178



Net book value



At 30 November 2024
5,218,737
7,480
276,121
5,140
5,507,478



At 30 November 2023
4,302,225
9,974
266,421
3,402
4,582,022

The property, including furniture, fittings and equipment, was revalued on 07 February 2025 by Graham + Sibbald, Chartered Surveyors, at £5,500,000 based on an open market value.

Cost or valuation at 30 November 2024 is as follows:

Heritable property
£


At cost
3,069,360
At valuation:

Revalued in the years to November 2010, 2014, 2019, 2024
2,149,377



5,218,737

Page 22

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

           14.Tangible fixed assets (continued)

If the heritable property had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
3,069,360
3,060,335

Net book value
3,069,360
3,060,335


15.


Stocks

2024
2023
£
£

Raw materials and consumables
31,092
30,273

31,092
30,273



16.


Debtors

2024
2023
£
£


Trade debtors
22,541
5,464

Other debtors
2,454
1,348

Prepayments and accrued income
6,878
6,786

31,873
13,598



17.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
94,425
128,267

Other taxation and social security
364,938
276,782

Other creditors
141,300
282,491

Accruals and deferred income
33,995
29,615

634,658
717,155




Page 23

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

18.


Deferred taxation




2024


£






At beginning of year
(145,616)


Increase in year
(228,872)



At end of year
(374,488)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(66,654)
(63,758)

Capital gains
(307,834)
(81,858)

(374,488)
(145,616)


19.


Share Capital

2024
2023
£
£
Allotted, called up and fully paid



41,665 (2023 - 41,665) Ordinary shares of £1.00 each
41,665
41,665



20.


Reserves

Revaluation reserve

Revaluation reserve is a non-distributable reserve which comprises revaluation gains on land and buildings.  The revaluation reserve will be realised as the assets are depreciated or sold.

Capital redemption reserve

Capital redemption reserve is a non-distributable reserve which arose from the redemption of shares in a previous period.

Profit and loss account

Profit and loss account is a distributable reserve which includes all current and prior year retained profits and losses.

Page 24

 
GREEN PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

21.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £121,847 (2023 - £120,321). Contributions totalling £5,631 (2023 - £4,713) were payable to the fund at the reporting date and are included in creditors.


22.


Controlling party

The company is controlled by the director Mr A T McMenemie.


Page 25