| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 28 February 2025 |
| for |
| Twin Parks Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 28 February 2025 |
| for |
| Twin Parks Limited |
| Twin Parks Limited (Registered number: 08408099) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Twin Parks Limited |
| Company Information |
| for the Year Ended 28 February 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Lake House |
| Market Hill |
| Royston |
| Hertfordshire |
| SG8 9JN |
| Twin Parks Limited (Registered number: 08408099) |
| Balance Sheet |
| 28 February 2025 |
| 28.2.25 | 29.2.24 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Twin Parks Limited (Registered number: 08408099) |
| Balance Sheet - continued |
| 28 February 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Twin Parks Limited (Registered number: 08408099) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2025 |
| 1. | STATUTORY INFORMATION |
| Twin Parks Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis. The Directors consider this basis to be appropriate despite the fact that the balance sheet shows net current liabilities at 29 February 2024. The shareholders have confirmed their continued support for the company for the 12 months following the date the accounts are signed. It is in the view of the Directors that there are sufficient cash reserves to settle liabilities as they become due. |
| Should the company be unable to continue trading, adjustments would have to be made to adjust the value of the assets to their recoverable amount and to provide for any further liabilities which might arise. |
| Turnover |
| Turnover represents rental income which has been recorded in the profit and loss on a straight line basis across the period of the lease. |
| Investment property |
| Investment property is included in the accounts at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of the investment properties. Under FRS102 the valuation is under the fair value provisions of the Companies Act 2006 and therefore there is no departure from the requirements of the Companies Act 2006. |
| Financial instruments |
| The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| Twin Parks Limited (Registered number: 08408099) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Other income |
| Other income represents insurance claim income. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2024 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 March 2024 |
| and 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 29 February 2024 |
| The directors do not believe that the value of the investments properties at the end of the year are materially different to cost. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.25 | 29.2.24 |
| £ | £ |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.25 | 29.2.24 |
| £ | £ |
| Corporation Tax |
| Accrued expenses |
| Twin Parks Limited (Registered number: 08408099) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 28.2.25 | 29.2.24 |
| £ | £ |
| Other loans (see note 8) |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 28.2.25 | 29.2.24 |
| £ | £ |
| Amounts falling due between one and two years: |
| Directors loans | 1,026,359 | 1,118,359 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 28.2.25 | 29.2.24 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |