REGISTERED NUMBER: SC428470 (Scotland)

FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2025

FOR

PARK'S (PROPERTY MANAGEMENT SERVICES)

LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

W Cumming

R B Hare

I B Mackay

A G Noble

R W Park

G T Park

SECRETARY:

A G Noble

REGISTERED OFFICE:

Park House

14 Bothwell Road

Hamilton

Lanarkshire

ML3 0AY

REGISTERED NUMBER:

SC428470 (Scotland)

AUDITORS:

Thomas Barrie & Co LLP

Statutory Auditor

Chartered Accountants

Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

FIXED ASSETS

Tangible assets

4

-

53,036,132

Investment property

5

-

2,238,180

-

55,274,312

CURRENT ASSETS

Stocks

-

18,031

Debtors

6

209,437

660,933

Cash at bank

72,564

226,944

282,001

905,908

CREDITORS

Amounts falling due within one year

7

(393,763

)

(2,257,375

)

NET CURRENT LIABILITIES

(111,762

)

(1,351,467

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(111,762

)

53,922,845

CREDITORS

Amounts falling due after more than one year

8

-

(57,904,816

)

NET LIABILITIES

(111,762

)

(3,981,971

)

CAPITAL AND RESERVES

Called up share capital

2

1

Share premium

4,303,509

-

Retained earnings

(4,415,273

)

(3,981,972

)

SHAREHOLDERS' FUNDS

(111,762

)

(3,981,971

)

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 18 December 2025 and were signed on its behalf by:

A G Noble - Director

1.	STATUTORY INFORMATION

Park's (Property Management Services) Limited is a private company, limited by shares, registered in Scotland.The company's registered number is SC428470 and the registered office address is Park House, 14 Bothwell Road, Hamilton, Lanarkshire, ML3 0AY.

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 presentational and functional currency of the financial statements is Pounds Sterling (£).

Going Concern

Although all trade and assets have been transferred to another group company, the intention is that the company will continue to exist and be able to meet its liabilities for the foreseeable future, with group support if required. As a result, the going concern basis is still deemed appropriate.

Significant judgements and estimates

In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Plant and equipment

The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the company's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets. The depreciation rates applied are outlined later in these notes.

Investment property

As noted below, investment property is included in the Statement of Financial Position at fair value.

The valuation is based on the directors' consideration of several factors including previous professional valuations, local market conditions, estate agent valuations, and recent selling prices of similar properties.

Tangible fixed assets

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

Land and buildings

-

50 years or the lease period if shorter and Estimated life of the improvements

Plant and machinery etc

-

25% on cost and Estimated life of the improvements

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including related transaction costs. Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit and loss in the period in which they arise.

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

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

Turnover

Property income is invoiced in advance and apportioned over the rental period.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

62,635,875

4,372,307

67,008,182

Additions

8,915,754

436,870

9,352,624

Disposals

(71,551,629

)

(4,809,177

)

(76,360,806

)

At 31 March 2025

-

-

-

DEPRECIATION

At 1 January 2024

10,311,764

3,660,286

13,972,050

Charge for period

1,296,108

231,587

1,527,695

Eliminated on disposal

(11,607,872

)

(3,891,873

)

(15,499,745

)

At 31 March 2025

-

-

-

NET BOOK VALUE

At 31 March 2025

-

-

-

At 31 December 2023

52,324,111

712,021

53,036,132

Included in cost of land and buildings is freehold land of £ 8,700,089 (2023 - £ 8,211,000 ) which is not depreciated.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

2,238,180

Disposals

(2,238,180

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 December 2023

2,238,180

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade debtors

-

160,312

Other debtors

209,437

500,621

209,437

660,933

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade creditors

380

341,392

Amounts owed to group undertakings

410,438

38,888

Taxation and social security

(17,055

)

1,385,107

Other creditors

-

491,988

393,763

2,257,375

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2023

£

£

Amounts owed to group undertakings

-

57,904,816

9.

RESERVES

Revaluation

reserve

£

Increase in year

471,846

Transactions in the year

(471,846

)

At 31 March 2025

-

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Greig BA CA (Senior Statutory Auditor)

for and on behalf of Thomas Barrie & Co LLP

11.	CONTINGENT LIABILITIES

The Group's bankers have fixed and floating charges over the Group's assets. In addition to this, cross guarantees exist between all group companies in favour of the group's bankers.

12.	RELATED PARTY DISCLOSURES

The ultimate controlling party is Park's Of Hamilton (Investments)Limited.