Park Drive (canary Wharf) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09740577 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Park Drive (canary Wharf) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G M Landesberg

Miss J Landesberg

Miss K Landesberg

REGISTERED OFFICE:

First Floor, Spitalfields House

Stirling Way

Borehamwood

WD6 2FX

REGISTERED NUMBER:

09740577 (England and Wales)

ACCOUNTANTS:

TC Group

First Floor

Spitalfields House

Stirling Way

Borehamwood

Hertfordshire

WD6 2FX

FIXED ASSETS

Investment property

4

2,720,000

3,345,000

CURRENT ASSETS

Debtors

5

14,962

14,612

Cash at bank

-

4,036

14,962

18,648

CREDITORS

Amounts falling due within one year

6

(1,682,028

)

(1,579,312

)

NET CURRENT LIABILITIES

(1,667,066

)

(1,560,664

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,052,934

1,784,336

CREDITORS

Amounts falling due after more than one
year

7

(2,121,399

)

(2,140,142

)

NET LIABILITIES

(1,068,465

)

(355,806

)

CAPITAL AND RESERVES

Called up share capital

8

200

Retained earnings

(1,068,665

)

(356,006

)

SHAREHOLDERS' FUNDS

(1,068,465

)

(355,806

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 22 September 2026 and were signed on its behalf by:

G M Landesberg - Director

1.	STATUTORY INFORMATION

Park Drive (canary Wharf) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue represents rent receivable in respect of the company's investment properties. Rental income is

recognised over the period of the rental agreement.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the year 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 balance sheet date.

Going concern

The director has considered the company's financial resources and performance and believe that the company is well placed to manage its business risks successfully and that the company has adequate resources to continue in operational existence for the foreseeable future. The director has also confirmed their intention to continue to provide financial support to the company to enable it to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements.

Consequently, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

3,345,000

Revaluations

(625,000

)

At 31 December 2025

2,720,000

NET BOOK VALUE

At 31 December 2025

2,720,000

At 31 December 2024

3,345,000

Fair value at 31 December 2025 is represented by:

£

Valuation in 2024

(150,727

)

Valuation in 2025

(625,000

)

Cost

3,495,727

2,720,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.25

31.12.24

£

Cost

3,495,727

Investment property was valued on an open market basis on 31 December 2025 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Other debtors

3,530

4,605

Called up share capital not paid

-

200

Prepayments

11,432

9,807

14,962

14,612

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Other creditors

1,658,522

1,519,312

Accruals and deferred income

23,506

60,000

1,682,028

1,579,312

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.25

31.12.24

£

Bank loans - 1-2 years

2,121,399

2,140,142

The bank loan is secured by a mortgage deed over the investment properties.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

100

Ordinary A

1

100

Ordinary (Non voting)

1

100

200

9.	RELATED PARTY DISCLOSURES

Included in the other debtors less than one year is an amount of £3,330 (2024: £3,330) due from the related company with common directorship and shareholdings. The loan was interest free and repayable on demand.

Included in the other creditors less than one year is an amount of £1,657,666 (2024: £1,519,312) due to the related companies with common directorship and shareholdings. The loan was interest free and repayable on demand.