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Registered number: 05033121












WALTON RETAIL PARK LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025


 
WALTON RETAIL PARK LIMITED
REGISTERED NUMBER:05033121

BALANCE SHEET
AS AT 28 FEBRUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Investment property
 4 
887,381
887,381

Current assets
  

Debtors: amounts falling due within one year
 5 
102,749
105,073

Cash at bank and in hand
  
36,096
30,937

  
138,845
136,010

Creditors: amounts falling due within one year
 6 
(49,336)
(40,203)

Net current assets
  
 
 
89,509
 
 
95,807

Total assets less current liabilities
  
976,890
983,188

Creditors: amounts falling due after more than one year
 7 
(733,136)
(765,302)

Provisions for liabilities
  

Deferred tax
  
(34,781)
(34,781)

Net assets
  
208,973
183,105


Capital and reserves
  

Called up share capital 
  
3
3

Investment property reserve
  
104,342
104,342

Profit and loss account
  
104,628
78,760

  
208,973
183,105


Page 1

 
WALTON RETAIL PARK LIMITED
REGISTERED NUMBER:05033121
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr A Scibelli
Director

Date: 16 July 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WALTON RETAIL PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1.


General information

Walton Retail Park Limited (“the company”) is a private company limited by shares incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office is given in the company information.
The functional and presentational currency of the company is pounds sterling (£) and rounded to the nearest whole pound.

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.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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

Investment property

Investment property is carried at fair value determined annually by the director with reference to external valuations and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
WALTON RETAIL PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

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 Balance Sheet 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 4

 
WALTON RETAIL PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Interest income

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

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
WALTON RETAIL PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.11

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 balance sheet 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 balance sheet 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 balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).


4.


Investment property





Freehold investment property

£



Valuation


At 1 March 2024
887,381



At 28 February 2025
887,381

The 2025 valuations were made by the director, on an open market value for existing use basis.






Page 6

 
WALTON RETAIL PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

5.


Debtors

2025
2024
£
£


Trade debtors
650
2,974

Other debtors
102,099
102,099

102,749
105,073



6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
18,535
17,404

Trade creditors
21
770

Corporation tax
8,088
2,104

Other taxation and social security
650
295

Other creditors
19,067
15,975

Accruals and deferred income
2,975
3,655

49,336
40,203


Bank loans due within one year of £18,535 (2024: £17,404) are secured on the assets of the company.


7.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
105,881
125,547

Other creditors
627,255
639,755

733,136
765,302


Bank loans due after more than one year of £105,881 (2024: £125,547) are secured on the assets of the company.

Page 7

 
WALTON RETAIL PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

8.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within 1 year

Bank loans
18,535
17,404

Amounts falling due 1-2 years

Bank loans
18,535
17,404

Amounts falling due 2-5 years

Bank loans
55,605
52,211

Amounts falling due after more than 5 years

Bank loans
31,741
55,932

124,416
142,951



9.


Related party transactions

At the year end the company was owed £102,099 (2024: £102,099) by Kirkgate Retail Limited, a company in which Mr A Scibelli is a director and shareholder. This amount is included within other debtors. This balance is interest free and repayable on demand.
At the year end the company owed £289,078 (2024: £289,078) to Belsize Developments Limited, a company in which Mr A Scibelli is a director. This amount is included within other creditors falling due in more than one year. No interest has been charged on this balance.
At the year end the company owed £282,677 (2024: £295,177) to A & T Scibelli trading as Walton Retail Park, a partnership in which Mr A Scibelli is a partner. This amount is included within other creditors  falling due in more than one year. No interest has been charged on this balance.
At the year end the company owed £55,500 (2024: £55,500) to Papa Luigi (Franchise) 1990 Limited, a company in which Mr A Scibelli is a shareholder. This amount is included within other creditors falling due in more than one year. No interest has been charged on this balance.

 
Page 8