Company registration number 11531679 (England and Wales)
LOWER PARK INDUSTRIAL UNITS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
LOWER PARK INDUSTRIAL UNITS LIMITED
COMPANY INFORMATION
Director
Mr J S A Wood
Company number
11531679
Registered office
Weights Farm
Weights Lane
Redditch
Worcestershire
B97 6RG
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
26-28 Evesham Street
Kingfisher Shopping Centre
Redditch
B97 4EX
LOWER PARK INDUSTRIAL UNITS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
LOWER PARK INDUSTRIAL UNITS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LOWER PARK INDUSTRIAL UNITS LIMITED FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lower Park Industrial Units Limited for the year ended 31 August 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Lower Park Industrial Units Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lower Park Industrial Units Limited and state those matters that we have agreed to state to the board of directors of Lower Park Industrial Units Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lower Park Industrial Units Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Lower Park Industrial Units Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lower Park Industrial Units Limited. You consider that Lower Park Industrial Units 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 financial statements of Lower Park Industrial Units 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 financial statements.
Ormerod Rutter Limited
27 February 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
LOWER PARK INDUSTRIAL UNITS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
252,477
174,932
Current assets
Debtors
4
418,576
170,862
Cash at bank and in hand
77,777
266,038
496,353
436,900
Creditors: amounts falling due within one year
5
(158,768)
(146,998)
Net current assets
337,585
289,902
Total assets less current liabilities
590,062
464,834
Provisions for liabilities
6
(19,182)
Net assets
570,880
464,834
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
570,780
464,734
Total equity
570,880
464,834
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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 and signed by the director and authorised for issue on 27 February 2025
Mr J S A Wood
Director
Company registration number 11531679 (England and Wales)
LOWER PARK INDUSTRIAL UNITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Lower Park Industrial Units Limited is a private company limited by shares incorporated in England and Wales. The registered office is Weights Farm, Weights Lane, Redditch, Worcestershire, England, B97 6RG.
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.
Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.
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:
Leasehold improvements
Nil
Plant and equipment
20% on reducing balance
Computer equipment
33% on cost
1.4
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.
LOWER PARK INDUSTRIAL UNITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 September 2023
110,394
103,202
715
214,311
Additions
86,120
5,416
91,536
At 31 August 2024
196,514
108,618
715
305,847
Depreciation and impairment
At 1 September 2023
38,664
715
39,379
Depreciation charged in the year
13,991
13,991
At 31 August 2024
52,655
715
53,370
Carrying amount
At 31 August 2024
196,514
55,963
252,477
At 31 August 2023
110,394
64,538
174,932
LOWER PARK INDUSTRIAL UNITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
66,922
110,524
Amounts owed by group undertakings
351,654
55,000
418,576
165,524
Deferred tax asset
5,338
418,576
170,862
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
75
7,894
Amounts owed to group undertakings
6,149
Taxation and social security
54,786
48,901
Other creditors
103,907
84,054
158,768
146,998
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
19,182
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
100
100
100
100
8
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
LOWER PARK INDUSTRIAL UNITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
9
Control
Ultimate parent company
The ultimate parent company is Eden Park Holdings Limited.
Ultimate controlling party
The ultimate controlling party is Mr J S A Wood and Mrs E Wood by virtue of their controlling interest in the ultimate parent company.