0 8 September 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 7,500,000 25,840 4,645,840 2,880,000 2,880,000 7,500,000 xbrli:pure xbrli:shares iso4217:GBP 12057394 2024-01-01 2024-12-31 12057394 2024-12-31 12057394 2023-12-31 12057394 2023-01-01 2023-12-31 12057394 2023-12-31 12057394 2022-12-31 12057394 bus:Director1 2024-01-01 2024-12-31 12057394 core:LandBuildings core:LongLeaseholdAssets 2024-01-01 2024-12-31 12057394 core:WithinOneYear 2024-12-31 12057394 core:WithinOneYear 2023-12-31 12057394 core:ShareCapital 2024-12-31 12057394 core:ShareCapital 2023-12-31 12057394 core:OtherReservesSubtotal 2023-12-31 12057394 core:RetainedEarningsAccumulatedLosses 2024-12-31 12057394 core:RetainedEarningsAccumulatedLosses 2023-12-31 12057394 core:HedgingReserve 2023-12-31 12057394 core:HedgingReserve 2022-12-31 12057394 core:HedgingReserve 2023-12-31 12057394 core:LandBuildings core:LongLeaseholdAssets 2024-12-31 12057394 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 12057394 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 12057394 bus:SmallEntities 2024-01-01 2024-12-31 12057394 bus:Audited 2024-01-01 2024-12-31 12057394 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12057394 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12057394 bus:FullAccounts 2024-01-01 2024-12-31 12057394 core:HedgingReserve 2024-01-01 2024-12-31 12057394 core:HedgingReserve 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 12057394

17 Park Square East Ltd

Filleted Financial Statements

31 December 2024

17 Park Square East Ltd

Statement of Financial Position

31 December 2024

| 2024 | 2023
Note | £ | £

Fixed assets

Investment property | 4 | 2,880,000 | 7,500,000

Current assets

Debtors | 5 | 15,482 | 12,914

Creditors: amounts falling due within one year | 6 | 6,730,357 | 6,618,165
| ------------ | ------------
Net current liabilities | 6,714,875 | 6,605,251
| ------------ | ------------
Total assets less current liabilities | ( 3,834,875) | 894,749

Provisions | – | 295,423
| ------------ | ---------
Net (liabilities)/assets | ( 3,834,875) | 599,326
| ------------ | ---------

Capital and reserves

Called up share capital | 1 | 1
Profit and loss account (non-distributable) | – | 886,268
Profit and loss account distributable | ( 3,834,876) | ( 286,943)
| ------------ | ---------
Shareholders (deficit)/funds | ( 3,834,875) | 599,326
| ------------ | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 8 September 2025 , and are signed on behalf of the board by:

T Lalvani
Director

Company registration number: 12057394

17 Park Square East Ltd

Notes to the Financial Statements

Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Apsley Way, London, NW2 7HF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the amount of deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. The surplus or deficit arising from the annual revaluation is transferred to the non-distributable profit and loss reserve unless a deficit on an individual investment property is expected to be permanent in which case it is recognised in the profit and loss reserve account for the year.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investment property

| Investment property
| £
Fair Value |
At 1 January 2024 | 7,500,000
Additions | 25,840
Revaluations | ( 4,645,840)
| ------------
At 31 December 2024 | 2,880,000
| ------------
Impairment |
At 1 January 2024 and 31 December 2024 | –
| ------------
Carrying amount |
At 31 December 2024 | 2,880,000
| ------------
At 31 December 2023 | 7,500,000
| ------------

Valuation at 31 December 2024 is represented by:

|  | £
| Cost | 6,456,958
| Valuation 2020 | (164,962)
| Valuation 2021 | 492,962
| Valuation 2022 | (250,000)
| Valuation 2023 | 990,882
| Valuation 2024 | (4,645,840)

Investment property is stated at the directors' valuation at the balance sheet date on an open market basis.
5. Debtors

| 2024 | 2023
| £ | £
Other debtors | 15,482 | 12,914
| -------- | --------

6. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 6,721,495 | 6,612,053
Other creditors | 8,862 | 6,112
| ------------ | ------------
| 6,730,357 | 6,618,165
| ------------ | ------------

7. Profit and loss account non-distributable
The following movements on the profit and loss account non-distributable are included within profit and loss account (non-distributable) in the statement of changes in equity:

| 2024 | 2023
| £ | £
At start of year | 886,268 | 63,580
Reclassification from profit and loss account non-distributable to profit and loss account distributable | (886,268) | 822,688
| --------- | ---------
At end of year | – | 886,268
| --------- | ---------

8. Summary audit opinion
The auditor's report dated 8 September 2025 was unqualified .
The senior statutory auditor was Paul Mattei , for and on behalf of Leaman Mattei .
9. Related party transactions
The company has taken advantage of the exemption granted by paragraph 33.1(a) of FRS102, Related Party Disclosures, not to disclose transactions with group companies which are wholly owned subsidiaries of the group.
10. Controlling party
The immediate parent undertaking Vitabiotics Limited, a company registered in England and Wales. The smallest and largest group to consolidate these financial statements is Vitabiotics Limited, a company registered in England and Wales. Copies of the Vitabiotics Limited consolidated financial statements are publicly available at Companies House. The directors consider the ultimate controlling parent undertaking to be Vitabiotics Group Holdings Limited, a company incorporated in the British Virgin Islands.