Value Car Parks Ltd.

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:

33-35 Grosvenor Road

Belfast

BT12 4GR

Northern Ireland

The presentation currency is £ Sterling and the level of rounding is to the nearest £.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis.

2.3. Significant judgements and estimations

The preparation of financial statements in compliance with FRS 102 requires the directors to make certain judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.

2.4. Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities

2.5. Tangible Fixed Assets and Depreciation

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Plant & Machinery	10% - 50% straight line
Fixtures & Fittings	10% - 50% straight line
Land & Buildings	1% straight line

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Value Car Parks Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

2.6. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

2.7. Taxation

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.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 taxable income.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

2.8. Pensions

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in

the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2.9. Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

2.10. Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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Value Car Parks Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

2.11. Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2.12. Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2.13. Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2.14. Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2025: 9)

4. Prior Period Adjustment

An adjustment has been made to prior year balances to account for deferred tax which should have been provided for. The impact of this is to reduce retained earnings as at 1 July 2024 by £42,785, increase the tax charge for the year ended 30 June 2025 by £37,435 and increase the deferred tax provision at 30 June 2025 by £80,220.

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Land & Buildings	Total
	£	£	£	£
Cost
As at 1 July 2025	80,651	9,945	16,989,616	17,080,212
Additions	8,580	1,878	7,650	18,108

As at 30 June 2026	89,231	11,823	16,997,266	17,098,320

Depreciation
As at 1 July 2025	52,604	6,512	178,998	238,114
Provided during the period	21,223	1,147	90,264	112,634

As at 30 June 2026	73,827	7,659	269,262	350,748

Net Book Value
As at 30 June 2026	15,404	4,164	16,728,004	16,747,572

As at 1 July 2025	28,047	3,433	16,810,618	16,842,098

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Value Car Parks Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

6. Stocks

	2026	2025 as restated
	£	£
Stock	1,080	945

7. Debtors

	2026	2025 as restated
	£	£
Due within one year
Trade debtors	-	15,063
Prepayments and accrued income	17,336	23,553

	17,336	38,616

8. Creditors: Amounts Falling Due Within One Year

	2026	2025 as restated
	£	£
Trade creditors	7,803	5,416
Bank loans and overdrafts	222,018	214,187
Other creditors	227,914	266,625
Taxation and social security	194,877	69,447

	652,612	555,675

9. Creditors: Amounts Falling Due After More Than One Year

	2026	2025 as restated
	£	£
Bank loans	7,619,805	7,851,812
Amounts owed to group undertakings	5,950,000	6,850,593

	13,569,805	14,702,405

Bank borrowings are secured via a number of fixed and floating charges over the assets of the company in favour of Northern Bank Limited.

10. Share Capital

	2026	2025 as restated
	£	£
Allotted, Called up and fully paid	1	1

11. Related Party Transactions

The company has taken advantage of the exemption in section 33.1A of FRS 102 from disclosing transactions with entities that are wholly owned within the same group. This exemption applies as the Company is a wholly owned subsidiary of McCausland Group Limited, and its results are included in the consolidated financial statements of the parent, which are publicly available.

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Value Car Parks Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

12. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is McCausland Group Limited, incorporated in United Kingdom.

14. Audit Information

The auditor's report on the accounts of Value Car Parks Ltd. for the year ended 30 June 2026 was unqualified.

The auditor's report was signed by Brian Stewart (Senior Statutory Auditor) for and on behalf of RBCA Limited , Statutory Auditor.

RBCA Limited

Linenhall Exchange

26 Linenhall Street

Belfast

BT2 8BG

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		2026		2025 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		16,747,572		16,842,098

			16,747,572		16,842,098
CURRENT ASSETS
Stocks	6	1,080		945
Debtors	7	17,336		38,616
Cash at bank and in hand		209,994		248,676

		228,410		288,237
Creditors: Amounts Falling Due Within One Year	8	(652,612 )		(555,675 )

NET CURRENT ASSETS (LIABILITIES)			(424,202 )		(267,438 )

TOTAL ASSETS LESS CURRENT LIABILITIES			16,323,370		16,574,660

Creditors: Amounts Falling Due After More Than One Year	9		(13,569,805 )		(14,702,405 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(116,622 )		(80,220 )

NET ASSETS			2,636,943		1,792,035

CAPITAL AND RESERVES
Called up share capital	10		1		1
Profit and Loss Account			2,636,942		1,792,034

SHAREHOLDERS' FUNDS			2,636,943		1,792,035