| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| DISCOVERY PARK INNOVATION LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| DISCOVERY PARK INNOVATION LIMITED |
| DISCOVERY PARK INNOVATION LIMITED (REGISTERED NUMBER: 10649243) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| DISCOVERY PARK INNOVATION LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| 115 Craven Park Road |
| South Tottenham |
| London |
| N15 6BL |
| DISCOVERY PARK INNOVATION LIMITED (REGISTERED NUMBER: 10649243) |
| STATEMENT OF FINANCIAL POSITION |
| 30 NOVEMBER 2024 |
| 30.11.24 | 30.11.23 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 | ( |
) | ( |
) |
| SHAREHOLDERS' DEFICIT | ( |
) | ( |
) |
| The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
| DISCOVERY PARK INNOVATION LIMITED (REGISTERED NUMBER: 10649243) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Discovery Park Innovation Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| 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. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Going concern |
| The company has net liabilities at the reporting date of £5,248,592 [2023- £4,138,150], principally due to amounts due to bank finance which the company has obtained on behalf of fellow Discovery Park Group companies. At the year end, the total liabilities falling due under such arrangements were in the sum of £11,500,000 due to be repaid in March 2025. |
| The company is reliant on other companies within the group as well as companies closely associated with the shareholders/directors for its day to day operation. The directors are confident that the company will continue to have adequate resources in place to meet its financial obligations as and when they fall due for at least 12 months from the date of approval of these financial statements. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| DISCOVERY PARK INNOVATION LIMITED (REGISTERED NUMBER: 10649243) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Amounts owed to group undertakings |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Bank loans (see note 8) |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Bank loans |
| Bank loan are secured by way of a debenture including fixed and floating charges against the freehold investment properties held by the Discovery Park Limited, a fellow subsidiary undertaking of the Discovery Park Estates Ltd. |
| DISCOVERY PARK INNOVATION LIMITED (REGISTERED NUMBER: 10649243) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.24 | 30.11.23 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 December 2023 | ( |
) |
| Deficit for the year | ( |
) |
| At 30 November 2024 | ( |
) |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 13. | ULTIMATE CONTROLLING PARTY |
| The immediate parent undertaking of the company is Discovery Park Investments Limited, a company incorporated in England.The ultimate parent undertaking of the company is Discovery Park Estates Ltd, a company incorporated in England. |
| Discovery Park Estates Ltd is the smallest and largest group for which consolidated financial statements are prepared. Copies of the consolidated financial statements can be obtained from the company's registered office at 147 Stamford Hill, London, N16 5LG. |