REGISTERED NUMBER: SO307153 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

PARK SECURITIES DEVELOPMENTS LLP

Page

Balance Sheet

1

CURRENT ASSETS

1,746,842

1,945,667

CREDITORS

Amounts falling due within one year

(6,170

)

(4,340

)

NET CURRENT ASSETS

1,740,672

1,941,327

TOTAL ASSETS LESS CURRENT LIABILITIES

1,740,672

1,941,327

LOANS AND OTHER DEBTS DUE TO MEMBERS

1,729,362

1,930,017

MEMBERS' OTHER INTERESTS

11,310

11,310

1,740,672

1,941,327

NOTES TO THE FINANCIAL STATEMENTS

1.	STATUTORY INFORMATION

Park Securities Developments LLP is registered in Scotland. The LLP's registered number and registered office address are as below:

Registered number:

SO307153

Registered office:

C/O Addleshaw Goddard

St. Andrew Square

Edinburgh

EH2 1AF

The presentation currency of the financial statements is the Pound Sterling (£).

2.	RELATED PARTY DISCLOSURES

During the year, the LLP paid £5,050 (2025: £3,600) to a company controlled by a designated member of the LLP in respect of property management services, administration and bookkeeping services.

3.	AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was NIL (2025 - NIL).

4.	EXCEPTIONAL ITEM - IMPAIRMENT PROVISION FOR LOAN WRITE DOWN

At the end of the reporting period, the designated members carried out a review of the LLP's financial assets in accordance with the requirements of FRS 105 and the Companies Act 2006. This review included a reassessment of outstanding loans and the impairment provision recognised in the previous reporting period.

The reassessment took into account updated financial forecasts provided by the borrower following a major change to their business model. This indicates an improvement in the borrower's expected financial performance and cash flow position. However, the designated members have been made aware of substantial guarantees that the borrower has provided which would have a significant negative impact on cashflow if exercised. On the basis of these revised forecasts and guarantee obligations, the designated members consider that on balance the prospects for repayment of the outstanding loan balance to be slightly improved.

As a consequence of this reassessment, the impairment provision required at the reporting date has been reduced from £385,945 to £252,581. The resulting reversal of £133,364 has been recognised as an exceptional item in these financial statements and credited to the profit and loss account within operating profit, under the relevant statutory heading.

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2026.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 10 September 2026 and were signed by:

Park Securities Limited - Designated member