ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

Company Registration Number: 03692079

KINGMOOR PARK PROPERTIES LIMITED

FINANCIAL STATEMENTS

31 AUGUST 2025

KINGMOOR PARK PROPERTIES LIMITED

REGISTERED NUMBER: 03692079

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		69,904		103,062
Investment property	6		94,025,000		89,840,001
			94,094,904		89,943,063
Current assets
Debtors: amounts falling due within one year	7	5,376,744		6,824,281
Cash at bank and in hand	8	8,368,183		2,158,882
		13,744,927		8,983,163
Creditors: amounts falling due within one year	9	(14,930,945)		(5,020,062)
Net current (liabilities)/assets			(1,186,018)		3,963,101
Total assets less current liabilities			92,908,886		93,906,164
Creditors: amounts falling due after more than one year	10		(46,691,250)		(47,291,250)
Provisions for liabilities
Deferred tax	13	(10,632,250)		(6,952,529)
			(10,632,250)		(6,952,529)
Net assets			35,585,386		39,662,385

Capital and reserves
Called up share capital	14	8,000,000	8,000,000
Investment property reserve	15	22,902,103	28,855,748
Profit and loss account	15	4,683,283	2,806,637
		35,585,386	39,662,385

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KINGMOOR PARK PROPERTIES LIMITED

REGISTERED NUMBER: 03692079

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 AUGUST 2025

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr N Mcintyre

Director

Date: 12 January 2026

The notes on pages 3 to 13 form part of these financial statements.

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KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	General information

Kingmoor Park Properties Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office and principal address of business is The Marketing Suite, Baron Way, Kingmoor Business Park, Carlisle, Cumbria, CA6 4SJ.
The presentational currency of the financial statements is Pounds Sterling.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The company has net current assets of £10m, net assets of £47m and has £8.4m cash at the balance sheet date. The directors have considered the period of assessment together with future forecasts and confirm the going concern basis of preparation remains appropriate.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

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KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.5

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery	-	25% straight line basis
Motor vehicles	-	25% straight line basis
Fixtures and fittings	-	25% straight line basis
Office equipment	-	25% straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.13

Investment property

Investment property is carried at fair value, the decision to revalue is determined by the directors annually and any valuation is carried out by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.
Deferred tax is provided on these gains at the rate expected to apply when the property is sold, when calculating the potential deferred tax indexation is considered.

2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.16

Creditors

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

2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.18

Dividends

Equity dividends are recognised when become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 18 (2024 - 15).

Page 6

KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

4.	Exceptional items
		2025	2024
		£	£

	Profit on disposal of fixed assets	298,000	(841,947)
		298,000	(841,947)

5.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 September 2024	109,547	28,995	46,462	-	185,004
Additions	-	16,800	-	2,428	19,228
Disposals	(6,897)	-	-	-	(6,897)
At 31 August 2025	102,650	45,795	46,462	2,428	197,335
Depreciation
At 1 September 2024	25,074	12,243	44,625	-	81,942
Charge for the year on owned assets	29,120	15,265	1,104	-	45,489
At 31 August 2025	54,194	27,508	45,729	-	127,431
Net book value
At 31 August 2025	48,456	18,287	733	2,428	69,904
At 31 August 2024	84,473	16,752	1,837	-	103,062

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


Motor vehicles	-	19,000
	-	19,000

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KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

6.	Investment property

		Investment property
		£
	Valuation
	At 1 September 2024	89,840,001
	Additions at cost	74,257
	Disposals	(8,200,001)
	Surplus on revaluation	12,310,743
	At 31 August 2025	94,025,000

The 2025 valuations were made by Cushman and Wakefield, Chartered Surveyors, on an open market value for existing use basis.

Debtors

					2025	2024
					£	£


Trade debtors	148,381	134,688
Amounts owed by group undertakings	-	1,544,364
Other debtors	4,485,608	4,396,037
Prepayments and accrued income	742,755	749,192
	5,376,744	6,824,281

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

8.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	8,368,183	2,158,882

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KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

9.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	600,000	600,000
Trade creditors	1,937,065	1,401,550
Amounts owed to group undertakings	7,734,879	-
Corporation tax	1,405,935	177,966
Other taxation and social security	188,823	8,955
Obligations under finance lease and hire purchase contracts	10,089	2,892
Other creditors	1,488,807	594,720
Accruals and deferred income	1,565,347	2,233,979
	14,930,945	5,020,062

Amounts owed on hire purchase contracts are secured against the assets to which they relate.

The following liabilities were secured:
	2025	2024
	£	£


Bank loans	600,000	600,000
	600,000	600,000

Details of security provided:

Bank loans are secured by a fixed and floating charge over the freehold property owned by the company.

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KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

10.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	46,691,250	47,291,250
	46,691,250	47,291,250

The following liabilities were secured:
	2025	2024
	£	£


Bank loans	46,691,250	47,267,695
	46,691,250	47,267,695

Details of security provided:

Bank loans are secured by a fixed and floating charge over the freehold property owned by the company.

Amounts falling due within one year
Bank loans	600,000	600,000
	600,000	600,000

Amounts falling due 2-5 years
Bank loans	2,400,000	2,400,000
	2,400,000	2,400,000
Amounts falling due after more than 5 years
Bank loans	44,291,250	44,891,250
	44,291,250	44,891,250
	47,291,250	47,891,250

Page 10

KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

	Within one year	10,089	2,892
		10,089	2,892

13.	Deferred taxation

		2025
		£

	At beginning of year	(6,952,529)
	Charged to profit or loss	(3,679,721)
	At end of year	(10,632,250)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances	(1,590,396)	(491,532)
Investment property	(9,041,854)	(6,462,213)
Short term timing differences	-	1,216
	(10,632,250)	(6,952,529)

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KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

14.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

400,000 (2024 - 400,000) Ordinary 'A' shares of £1.00 each	400,000	400,000
400,000 (2024 - 400,000) Ordinary 'B' shares of £1.00 each	400,000	400,000
7,200,000 (2024 - 7,200,000) Ordinary 'C' shares of £1.00 each	7,200,000	7,200,000

	8,000,000	8,000,000

15.

Reserves

Profit and loss account

Profit and loss account represents retained cumulative profits and losses.

Investment property reserve
This represents the historic increases in the value of the investment property net of any deferred tax.

16.	Contingent liabilities

A claim has been made against Kingmoor Park Properties Limited of which the directors do not deem the company to be liable for. Any potential liability is believed to be fully insured.

17.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £28,587 (2024 – £23,112). There were no contributions payable to the fund at the reporting date (2024 - £nil).

Not later than 1 year	238,516	203,729
Later than 1 year and not later than 5 years	836,411	759,622
Later than 5 years	11,381,508	10,268,195
	12,456,435	11,231,546

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KINGMOOR PARK PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

19.

Related party transactions

Included in other debtors is a loan of £3,550,000 (2024 - £3,550,000) to Bacard Renewable Investments Limited, a company related via common ownership. Interest is payable monthly at the Bank of England base rate.

Interest receivable in the year from Bacard Renewable Investments Limited amounted to £159,604 (2024 - £100,348). £259,952 (2024 - £100,348) interest receivable is included in other debtors at the year end.

Included in other debtors is a balance of £118,974 (2024 - £nil) owed from Bacard Renewable Investments Limited. This balance is interest free and repayable on demand.

20.	Controlling party

Bacard Holdings Limited (formerly known as Kingmoor Park Holdings Limited) was the ultimate parent undertaking throughout the period. The registered office of this company is The Marketing Suite, Baron Way, Kingmoor Business Park, Carlisle, England, CA6 4SJ.

21.	Auditors' information

The auditors' report on the financial statements for the year ended 31 August 2025 was unqualified.

The audit report was signed on 13 January 2026 by Joanna Gray (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

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