REGISTERED NUMBER: 11218630 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SMARTPARC DERBY FM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs J Wild

Mr M A McDonnell

REGISTERED OFFICE:

Chalfont Park House

Chalfont Park

Gerrards Cross

Buckinghamshire

SL9 0DZ

REGISTERED NUMBER:

11218630 (England and Wales)

ACCOUNTANTS:

Cube Partners Limited

Chartered Accountants

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

FIXED ASSETS

Tangible assets

4

5,421,919

5,467,871

CURRENT ASSETS

Stocks

282,520

217,550

Debtors

5

958,669

1,145,149

Cash at bank

556,129

5,070

1,797,318

1,367,769

CREDITORS

Amounts falling due within one year

6

3,840,162

6,372,770

NET CURRENT LIABILITIES

(2,042,844

)

(5,005,001

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,379,075

462,870

CREDITORS

Amounts falling due after more than one year

7

(2,702,916

)

-

PROVISIONS FOR LIABILITIES

(918,841

)

(535,566

)

NET LIABILITIES

(242,682

)

(72,696

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(242,782

)

(72,796

)

(242,682

)

(72,696

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

Mrs J Wild - Director

1.	STATUTORY INFORMATION

SmartParc Derby FM Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis despite a negative position at the year end. The directors have confirmed their continued support to the company.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts 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 revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of consideration received or receivable for services provided in the normal course of business, and is shown net of value added tax and other sales related taxes.

Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably. To the extent that the service provided has not been billed at the balance sheet date, the amount is recognised as revenue and recorded as accrued income. Sales billed in advance of the services being provided are recognised as deferred income.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

2% on cost

Plant and machinery

-

20% on cost, 10% on cost and 5% on cost

Fixtures and fittings

-

20% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income and under administrative expenses.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Group relief payments

The company may agree to make or receive compensating payments in respect of losses surrendered or claimed under group relief. Such payments are accounted for within the tax line of the profit and loss account, as they arise solely in the context of corporation tax. In accordance with CTA 2010 s183, such payments are not taken into account for corporation tax purposes.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2024

-

5,511,970

-

5,511,970

Additions

25,914

222,574

1,951

250,439

At 31 December 2024

25,914

5,734,544

1,951

5,762,409

DEPRECIATION

At 1 January 2024

-

44,099

-

44,099

Charge for year

518

295,548

325

296,391

At 31 December 2024

518

339,647

325

340,490

NET BOOK VALUE

At 31 December 2024

25,396

5,394,897

1,626

5,421,919

At 31 December 2023

-

5,467,871

-

5,467,871

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

617,354

139,256

Amounts owed by group undertakings

15,003

100

Other debtors

326,312

1,005,793

958,669

1,145,149

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Bank loans and overdrafts

335,000

2,357,832

Trade creditors

516,872

2,111,071

Amounts owed to group undertakings

1,747,760

473,681

Other creditors

1,240,530

1,430,186

3,840,162

6,372,770

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

as restated

£

£

Bank loans

2,702,916

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,362,916

-

8.	LEASING AGREEMENTS

As at 31 December 2024 the company was committed to making payments of £4,975,000 (2023 - £nil) under non-cancellable operating leases.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

as restated

£

£

Bank overdraft

-

2,357,832

Bank loans

3,037,916

-

3,037,916

2,357,832

There is a fixed and floating charge over all the assets of the company dated 16 February 2023 and in favour of HSBC UK Bank Plc.There is also a fixed and floating charge over all the assets of the company dated 31 January 2024 in favour of HSBC Equipment Finance (UK) Limited.