Drake Memorial Park Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02816707 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Drake Memorial Park Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J M Harding

Mrs A M Godfrey

J C Godfrey

Mrs J A Blumsom

SECRETARY:

J C Godfrey

REGISTERED OFFICE:

17-19 Sutton Road

St Albans

AL1 5JQ

REGISTERED NUMBER:

02816707 (England and Wales)

ACCOUNTANTS:

Fenlon & Co

Chartered Certified Accountants

6 High Street

Wheathampstead

Hertfordshire

AL4 8AA

FIXED ASSETS

Tangible assets

4

1

Investments

5

155,836

Investment property

6

393,120

381,263

548,957

537,100

CURRENT ASSETS

Debtors

7

9,790

108,616

Cash at bank

845,655

753,103

855,445

861,719

CREDITORS

Amounts falling due within one year

8

14,746

15,127

NET CURRENT ASSETS

840,699

846,592

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,389,656

1,383,692

PROVISIONS FOR LIABILITIES

4,500

1,500

NET ASSETS

1,385,156

1,382,192

CAPITAL AND RESERVES

Called up share capital

71,500

Revaluation reserve

9

13,118

4,261

Retained earnings

1,300,538

1,306,431

SHAREHOLDERS' FUNDS

1,385,156

1,382,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

Mrs A M Godfrey - Director

Mrs J M Harding - Director

1.	STATUTORY INFORMATION

Drake Memorial Park Holdings Limited is a private company limited by shares and incorporated in England and Wales Its registered office is 17-19 Sutton Road, St Albans, Herts, AL1 5JQ.

The financial statements are presented in Sterling, which is the functional currency of the company

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 as modified by the revaluation of certain assets.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Depreciation & depreciation

Depreciation is charged on a straight line basis on the assets of the Company, other than investment properties, at the following rates which are expected to reduce the assets to their net realisable values over their estimated lives:

Relocatable Buildings 10%

Investment property

Investment properties are revalued annually and the aggregate surplus is transferred to the revaluation reserve. At the balance sheet date, the company reviews the carrying amount of its investment properties to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Depreciation is not provided in respect of freehold investment properties. Although this is a departure from the accounting requirements of the Companies Act 2006, which recommends that properties be depreciated, the directors consider departure in this regard as justified on the grounds of compliance with the Financial Reporting Standards and the overriding requirement under section 396(4) of the Companies Act 2006 that Financial Statements should show a true and fair view.

Financial instruments

Financial Instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Taxation

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Pension commitments

The costs of the Pension Scheme operated by the Company are calculated annually and charged to the profit and loss account as they arise.

Dividends

Final ordinary dividends payable to shareholders of the Company are recognised in the period that they are approved by the shareholders. Interim ordinary dividends are recognised in the period that they are paid.

Revaluation reserve

A surplus arising on the annual revaluation of the investment will be credited to a revaluation reserve which will be non-distributable. On disposal of the revalued investment the surplus relating to that item will be transferred to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

77,313

DEPRECIATION

At 1 April 2024

and 31 March 2025

77,312

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

5.	FIXED ASSET INVESTMENTS

Shares in

Group

Undertakings

£

COST

At 1 April 2024

155,836

And 31 March 2025

NET BOOK VALUE

At 31 March 2025

155,836

At 31 March 2024

155,836

Drake Memorial Park Limited is a subsidiary 100% owned by Drake Memorial Park Holdings Limited. The company has the following reserves and results:

2025

2024

£

Aggregate Capital & Reserves

169,447

94,153

The investment in the wholly owned subsidiary undertaking is included at original cost which, in the opinion of the directors is at least equal to market value, based on the value of the assets and the capacity of the subsidiary to generate profits.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

381,263

Revaluations

11,857

At 31 March 2025

393,120

NET BOOK VALUE

At 31 March 2025

393,120

At 31 March 2024

381,263

The freehold investment property which originally cost £375,502 (2024: £375,502) was valued on an open market existing use basis by the Directors at the Balance Sheet date. The value of rural land is calculated using the Knight Frank Farmland Index of the first quarter of 2025. The value of residential property is calculated by using the Knight Frank prime yield guide, March 2025. The net surplus or deficit arising on annual revaluations is transferred to the revaluation reserve.Where the freehold property has been valued at below the cost price, an impairment provision is charged to the Profit & Loss Account.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Owed by Subsidiary Undertaking

5,937

4,433

Owed by Earley Property Co Ltd

-

100,000

Other debtors

3,853

4,183

9,790

108,616

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Tax

12,146

12,487

Social security and other taxes

260

Other creditors

2,340

2,380

14,746

15,127

9.

RESERVES

Revaluation

reserve

£

At 1 April 2024

4,261

Surplus on Revaluation

8,857

At 31 March 2025

13,118

10.	RELATED PARTY DISCLOSURES

At 31 March 2025 the company was owed £5,936 (2024: £4,433) by its subsidiary.

11.	DEFINED BENEFIT PENSION SCHEME

As of 23 June 2012 the Scheme ceased future accrual of benefits for its members.

The Company contributed, as a Participating Employer, to a multi-employer Defined Benefit Scheme for the benefit of one of the directors. It is not possible for the Company to ascertain its share of the underlying assets and liabilities. Therefore the Company is accounting for the Scheme as a Defined Contribution Scheme as recommended by Financial Reporting Standard 17.

The pension contributions are calculated annually and charged to the profit and loss accounts as they arise. Costs for 2025 amounted to £0 (2024 £0).

The last full Scheme Funding Report performed by Mercer Limited (Formerly JLT Benefit Solutions Ltd) dated 22 September 2023 showed the actuarial position as at 22 June 2022. This indicated a Scheme Funding Valuation surplus of £349,000 (a funding level of 167%) and a Solvency Valuation surplus of £16,000 (a funding level of 102%).

The next full actuarial valuation will be carried out as at 23 June 2025 at which time funding levels are expected to be 180% for the Scheme Funding Valuation. However, the trustees instructed the insurer to surrender the assets of the Grouped Funding Policy on 17 June 2024 with a view to winding up the scheme before the next full actuarial valuation.

The actuarial valuation of the pension fund represents the amount which would be required to purchase the benefits at present secured under the policy for members of the Scheme.

12.	GROUP FINANCIAL STATEMENTS

The Company has taken advantage of the exemption conferred by the Companies Act 2006 from the requirement to prepare group financial statements.