THREE RIVERS PARK LIMITED


Directors	TAPSELL, Andrew Alfred
	TAPSELL, Rebby Robert


Registered Address	Cornerstones House Church Street
	Addingham
	Ilkey
	LD29 0QS


Registered Number	10006405 (England and Wales)

Notes to the Financial Statements
for the year ended 26 February 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The ultimate parent undertaking is Cornerstones Holdings Limited, a company registered in England & Wales. It trades from its registered office address at Cornerstones House, Church Street, Addingham, LS29 0QS.

Statutory information

The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The ultimate parent undertaking is Cornerstones Holdings Limited, a company registered in England & Wales.

It trades from its registered office address at Cornerstones House, Church Street, Addingham, LS29 0QS.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

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 obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on the following basis: Land and buildings - 2% straight line Plant and machinery - between 10% and 33.3% straight line Motor vehicles - 25% straight line and 25% reducing balance

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on the following basis:
Land and buildings - 2% straight line
Plant and machinery - between 10% and 33.3% straight line
Motor vehicles - 25% straight line and 25% reducing balance

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	10		8

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 27 February 24	3,894,697	83,287	90,103	4,068,087
Additions	902,221	191	-	902,412
At 26 February 25	4,796,918	83,478	90,103	4,970,499
Depreciation and impairment
At 27 February 24	173,514	63,146	50,934	287,594
Charge for year	37,677	5,067	11,991	54,735
At 26 February 25	211,191	68,213	62,925	342,329
Net book value
At 26 February 25	4,585,727	15,265	27,178	4,628,170
At 26 February 24	3,721,183	20,141	39,169	3,780,493


	Included in land & buildings is land with an estimated cost of £1,700,000 which is not depreciated. Included in land & buildings is new development cost of £915,523 which is not depreciated.

4.	Stocks
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.

	2025	2024
	£	£
Finished goods	252,376	229,279
Total	252,376	229,279

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	308,737	298,834
Other debtors	12,349	-
Total	321,086	298,834


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	89,054	173,371
Bank borrowings and overdrafts	134,891	103,372
Amounts owed to related parties	2,428,413	1,658,141
Taxation and social security	9,947	196,815
Other creditors	-	3,228
Accrued liabilities and deferred income	7,500	19,734
Total	2,669,805	2,154,661


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The following liabilities disclosed under creditors falling due within one year are secured by the company: Bank loans £124,891 (2024 - £93,372)

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

The following liabilities disclosed under creditors falling due within one year are secured by the company:
Bank loans £124,891 (2024 - £93,372)

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	5,000	15,000
Total	5,000	15,000

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	23,000	-
Total	23,000	-

9.	Operating lease commitments
	At 26 February 2025 the company had future minimum lease payments under non-cancellable operating leases for each of the following periods: Not later than 1 year £859 (2024 - £10,302) Later than 1 year and not later than 5 years £nil (2024 - £859)

10.	Related party transactions
	The company has taken advantage of the exemption contained in Section 33 of Financial Reporting Standard 102 'Related Party Disclosures' from disclosing transactions with entities which are part of the group, since 100% of the voting rights in the company are controlled within the group. Included within other creditors is an amount of £Nil (2024 - £3,228) due to A Tapsell. The amount is interest free and payable on demand.

10.

Related party transactions

The company has taken advantage of the exemption contained in Section 33 of Financial Reporting Standard 102 'Related Party Disclosures' from disclosing transactions with entities which are part of the group, since 100% of the voting rights in the company are controlled within the group.

Included within other creditors is an amount of £Nil (2024 - £3,228) due to A Tapsell. The amount is interest free and payable on demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		4,628,170		3,780,493
			4,628,170		3,780,493
Current assets
Stocks	4	252,376		229,279
Debtors	5	321,086		298,834
Cash at bank and on hand		103,240		125,946
		676,702		654,059
Creditors amounts falling due within one year	6	(2,669,805)		(2,154,661)
Net current assets (liabilities)			(1,993,103)		(1,500,602)
Total assets less current liabilities			2,635,067		2,279,891
Creditors amounts falling due after one year	7		(5,000)		(15,000)
Provisions for liabilities	8		(23,000)		-
Net assets			2,607,067		2,264,891
Capital and reserves
Called up share capital			1		1
Profit and loss account			2,607,066		2,264,890
Shareholders' funds			2,607,067		2,264,891