REGISTERED NUMBER: 11287513 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

HIGHER PARK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

W H Potts

REGISTERED OFFICE:

2 Park Street

London

W1K 2XA

REGISTERED NUMBER:

11287513 (England and Wales)

ACCOUNTANTS:

Green and Purple Limited

Building 1000

Cambridge Research Park

Waterbeach

Cambridgeshire

CB25 9PD

FIXED ASSETS

Tangible assets

4

40,315

-

CURRENT ASSETS

Debtors

5

530,858

373,062

Cash at bank

210,646

4,208

741,504

377,270

CREDITORS

Amounts falling due within one year

6

(632,462

)

(531,618

)

NET CURRENT ASSETS/(LIABILITIES)

109,042

(154,348

)

TOTAL ASSETS LESS CURRENT LIABILITIES

149,357

(154,348

)

CAPITAL AND RESERVES

Called up share capital

707,350

602,000

Share premium

769,650

-

Retained earnings

(1,327,643

)

(756,348

)

SHAREHOLDERS' FUNDS

149,357

(154,348

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

W H Potts - Director

1.	Statutory information

Higher Park 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.

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.

Going concern

The Director has considered the position of the Company in light of the launch of funds to be managed in accordance with an investment management agreement ("IMA"). In doing so, the Director has prepared a budget which extends to March 2026. This includes consideration of the Company's ability to continue to maintain sufficient levels of regulatory capital, in line with the FCA requirements.

The Company's going concern status is heavily reliant on the launch of the fund prior to 31 December 2024 and on this basis there is a material uncertainty relating to the going concern status of the Company. The Director has prepared the financial statements on a going concern basis.

Tangible fixed assets

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

Plant and machinery etc

-

straight line over 3 years

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, and loans to and from related parties.

Debt instruments that are payable or receivable within one year are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Trade and other receivables wholly receivable within one year are measured initially and subsequently at the undiscounted amount of cash or other consideration expected to be received. Trade and other receivables which are receivable later than one year are classified as financial assets measured at amortised cost using the effective interest rate method and are subject to impairment. Gains and losses are recognised in the profit or loss when the asset is derecognised, modified or impaired.

Cash is represented by deposits with financial institutions.

Trade and other payables wholly payable within one year are measured initially and subsequently at the undiscounted amount of cash or other consideration expected to be paid. Trade and other payables expected to be paid in more than one year, are recognised initially at fair value, net of directly attributable transaction costs. They are subsequently measured at amortised cost using the effective interest rate method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the Effective Interest Rate amortisation process.

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.

Leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 4 (2023 - NIL ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

Additions

42,481

At 30 June 2024

42,481

Depreciation

Charge for year

2,166

At 30 June 2024

2,166

Net book value

At 30 June 2024

40,315

5.

Debtors: amounts falling due within one year

2024

2023

as restated

£

£

Trade debtors

13,859

-

Other debtors

516,999

373,062

530,858

373,062

6.

Creditors: amounts falling due within one year

2024

2023

as restated

£

£

Trade creditors

49,447

1,646

Taxation and social security

33,293

-

Other creditors

549,722

529,972

632,462

531,618

7.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

as restated

£

£

Within one year

112,670

-

8.	Related party disclosures

Loan amount of £23,257 from a director was repaid by Higher Park Limited in the year. The loan was non-interest baring and balance due at 30 June 2024 was £1,546 (2023: £24,803).

During the year, the Company paid costs of £7,640 (2023: £9,600) on behalf of Upside Technologies Ltd, an entity under common control, and £4,320 (2023: £3,258) was paid by Upside Technologies Ltd on behalf of the Company. As at 30 June 2024 £372,036 (2023: £368,716) was due from Upside Technologies Ltd and is included in other debtors.

The Director and COO are considered to be key management personnel, during the year total remuneration paid to key management personnel was £34,457 (2023: £nil)

9.	Post balance sheet events

After the balance sheet date, the Company successfully launched a new investment fund in November 2024. The Karman Master Fund Limited is Cayman domiciled and has an investment objective to seek to produce long term capital growth primarily by pursuing a long/short equity trading strategy.

The launch marks a significant milestone for the Company aligning with its strategic objectives.

The Directors consider the fund launch a positive development that will contribute to the future growth and diversification of the Company's revenue streams. There were no other material post-balance sheet events requiring disclosure.

10.	Ultimate controlling party

The controlling party is W H Potts.