REGISTERED NUMBER: SO307153 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PARK SECURITIES DEVELOPMENTS LLP

Page

Balance Sheet

1

CURRENT ASSETS

1,945,667

2,162,407

CREDITORS

Amounts falling due within one year

(4,340

)

(1,699

)

NET CURRENT ASSETS

1,941,327

2,160,708

TOTAL ASSETS LESS CURRENT LIABILITIES

1,941,327

2,160,708

LOANS AND OTHER DEBTS DUE TO MEMBERS

1,930,017

2,149,398

MEMBERS' OTHER INTERESTS

11,310

11,310

1,941,327

2,160,708

NOTES TO THE FINANCIAL STATEMENTS

1.	STATUTORY INFORMATION

Park Securities Developments LLP is registered in Scotland. The LLP's registered number and registered office address are as below:

Registered number:

SO307153

Registered office:

C/O Addleshaw Goddard LLP

Exchange Tower

19 Canning Street

Edinburgh

EH3 8EH

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

2.	AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was NIL (2024 - NIL).

3.	EXCEPTIONAL ITEM - IMPAIRMENT PROVISION FOR LOAN WRITE DOWN

At the end of the reporting period, the designated members carried out a review of the LLP's financial assets in accordance with the requirements of FRS 105 and the Companies Act 2006. This review included an assessment of outstanding loans. Objective evidence of impairment was identified, primarily arising from recent financial forecasts for these loans, which indicate a material deterioration in cash flow projections and an inability to meet future repayment obligations. This constitutes objective evidence of impairment under FRS 105.

As a consequence, an impairment provision of £385,945 has been recognised in these financial statements, reducing the carrying value of loans receivable accordingly. This provision has been recorded as an exceptional item due to its nature and size and charged to the profit and loss account within operating profit, under the relevant statutory heading.

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 15 September 2025 and were signed by:

Park Securities Limited - Designated member