Company Registration No. 04554440 (England and Wales)
HALIFAX RETAIL PARK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HALIFAX RETAIL PARK LIMITED
COMPANY INFORMATION
Director
S E Elias
Company number
04554440
Registered office
2nd Floor
1 Ashley Road
Altrincham
WA14 2DT
Auditor
Lopian Gross Barnett & Co
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
Bankers
Natwest Bank Plc
Spinningfields Square
182 Deansgate
Manchester
M3 3LY
Aviva Commercial Finance
PO Box 21
Surrey St
Norwich
NR1 3NJ
HALIFAX RETAIL PARK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HALIFAX RETAIL PARK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
13,662,761
13,662,761
Current assets
Debtors
5
196,084
208,178
Cash at bank and in hand
100,176
62,104
296,260
270,282
Creditors: amounts falling due within one year
6
(1,426,648)
(1,461,773)
Net current liabilities
(1,130,388)
(1,191,491)
Total assets less current liabilities
12,532,373
12,471,270
Creditors: amounts falling due after more than one year
7
(10,622,544)
(10,633,840)
Net assets
1,909,829
1,837,430
Capital and reserves
Called up share capital
8
2
2
Non-distributable profits reserve
9
134,447
134,447
Distributable profit and loss reserves
1,775,380
1,702,981
Total equity
1,909,829
1,837,430

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 8 July 2025
S E Elias
Director
Company registration number 04554440 (England and Wales)
HALIFAX RETAIL PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Halifax Retail Park Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, 1 Ashley Road, Altrincham, WA14 2DT.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for rents and services net of VAT.

 

Revenue is recognised on the commencement of and in accordance with a lease, adjusted for any incentives as required by FRS102.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

HALIFAX RETAIL PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
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.

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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons employed by the company during the year was 0 (2023: 0).

HALIFAX RETAIL PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
4
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
13,662,761

The company's investment property is stated at the Directors' opinion of its fair value as at the year end.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
13,528,314
13,528,314
Accumulated depreciation
-
-
Carrying amount
13,528,314
13,528,314
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
95,476
84,990
Other debtors
100,608
123,188
196,084
208,178
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
11,296
10,640
Trade creditors
10,846
4,531
Taxation and social security
59,604
33,546
Other creditors
1,344,902
1,413,056
1,426,648
1,461,773
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
10,622,544
10,633,840

The loan is secured on the property.

HALIFAX RETAIL PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
2 Ordinary shares of £1 each
2
2
2
2
9
Non-distributable profits reserve
2024
2023
£
£
At the beginning and end of the year
134,447
134,447
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Jason Selig BA ACA CTA DChA
Statutory Auditor:
Lopian Gross Barnett & Co
Date of audit report:
14 July 2025
11
Financial commitments, guarantees and contingent liabilities

The company has cross guarantees with regards to the loan with the following connected companies:- Booth Street Property Company Ltd, Cramlington Land Partnership and Queens Chambers Property Company Ltd

12
Events after the reporting date

There were no post balance sheet events which require disclosure at the balance sheet date.

13
Related party transactions

There were no related party transactions outside the normal course of business.

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