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Registered number: 00897533
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Mowden Park Estate Company Limited
Financial statements
Information for filing with the registrar
31 March 2025
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Mowden Park Estate Company Limited
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Balance sheet
At 31 March 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Investment property reserve
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1
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Mowden Park Estate Company Limited
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Balance sheet (continued)
At 31 March 2025
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 on 24 September 2025.
Company registered number: 00897533
The notes on pages 3 to 9 form part of these financial statements.
2
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Mowden Park Estate Company Limited
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Notes to the financial statements
Year ended 31 March 2025
Mowden Park Estate Company Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom. The address of the registered office is Hub 1 The Innovation Centre, Venture Court, Queens Meadow Business Park, Hartlepool, TS25 5TG.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover comprises revenue recognised by the company in respect of rents receivable during the year, exclusive of Value Added Tax.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Current and deferred taxation
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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 balance sheet 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 balance sheet 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 balance sheet date.
3
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Mowden Park Estate Company Limited
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Notes to the financial statements
Year ended 31 March 2025
2.Accounting policies (continued)
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.
The estimated useful lives range as follows:
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Equity shares and ground rent
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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.
Investment property is carried at fair value, determined periodically and derived from the 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 profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
The company only 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.
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The average monthly number of employees, including directors, during the year was 10 (2024: 10).
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4
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Mowden Park Estate Company Limited
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Notes to the financial statements
Year ended 31 March 2025
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Equity shares and ground rents
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5
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Mowden Park Estate Company Limited
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Notes to the financial statements
Year ended 31 March 2025
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the company:
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The aggregate of the share capital and reserves as at 31 March 2025 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:
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Aggregate of share capital and reserves
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6
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Mowden Park Estate Company Limited
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Notes to the financial statements
Year ended 31 March 2025
No formal valuations were made in 2025, the last formal valuation was made in 2022 by Knight Frank, on an open market value for existing use basis. The directors are satisfied that the carrying value at the year end was consistent with their assessment of market value.
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If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Amounts owed by group undertakings
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Prepayments and accrued income
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7
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Mowden Park Estate Company Limited
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Notes to the financial statements
Year ended 31 March 2025
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Creditors: amounts falling due within one year
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Loan due to related party
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Other taxation and social security
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Creditors: amounts falling due after more than one year
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Loan due to related party
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Share capital treated as debt
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The following liabilities were secured:
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Details of security provided:
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Bank loans are secured against the investment property held by the company, there is also a multilateral guarantee with South Shore One Limited to support the borrowings of Mowden Park Estate Company Limited.
8
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Mowden Park Estate Company Limited
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Notes to the financial statements
Year ended 31 March 2025
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Loan due to related party
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Amounts falling due after one year
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Loan due to related party
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The company is party to a multilateral guarantee alongside South Shore One Limited (subsidiary company) to support the borrowings of The YW Investment Company Limited from its bankers. At 31 March 2025, amounts covered by this guarantee were £2,125,000 (2024: £9,775,000).
9
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