REGISTERED NUMBER: 01009712 (England and Wales)

Unaudited Financial Statements

for the period

1 August 2024 to 28 February 2025

for

H.& G.CAR PARKS LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

Director:

Mr G J Perkins

Secretary:

Mr M W Perkins

Registered office:

3rd Floor

86-90 Paul Street

London

EC2A 4NE

Registered number:

01009712 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Tangible assets

4

17,825,982

16,650,634

Investments

5

14,433,911

11,283,673

32,259,893

27,934,307

Current assets

Debtors

6

365,823

895,844

Cash at bank

186,005

1,787,387

551,828

2,683,231

Creditors

Amounts falling due within one year

7

6,445,329

2,545,179

Net current (liabilities)/assets

(5,893,501

)

138,052

Total assets less current liabilities

26,366,392

28,072,359

Creditors

Amounts falling due after more than one year

8

(3,265,123

)

(5,256,284

)

Provisions for liabilities

10

(2,214,383

)

(2,219,165

)

Net assets

20,886,886

20,596,910

Capital and reserves

Called up share capital

11

100

100

Revaluation reserve

8,779,152

8,779,152

Retained earnings

12,107,634

11,817,658

Shareholders' funds

20,886,886

20,596,910

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2025 and were signed by:

Mr G J Perkins - Director

1.	Statutory information

H.& G.Car Parks 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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Investments held as fixed assets are held at current market value.

Investment property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

3.	Employees and directors

The average number of employees during the period was 2 (2024 - 2 ) .

4.	Tangible fixed assets

Freehold

Fixtures

investment

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Cost or valuation

At 1 August 2024

16,552,657

230,797

24,757

16,808,211

Additions

1,194,943

-

-

1,194,943

At 28 February 2025

17,747,600

230,797

24,757

18,003,154

Depreciation

At 1 August 2024

-

135,364

22,213

157,577

Charge for period

-

19,086

509

19,595

At 28 February 2025

-

154,450

22,722

177,172

Net book value

At 28 February 2025

17,747,600

76,347

2,035

17,825,982

At 31 July 2024

16,552,657

95,433

2,544

16,650,634

The freehold investment property was revalued by the directors during the year to reflect the market value.

5.	Fixed asset investments

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Cost or valuation

At 1 August 2024

187,500

11,096,173

11,283,673

Share of profit/(loss)

-

385,238

385,238

Reclassification/transfer

-

2,765,000

2,765,000

At 28 February 2025

187,500

14,246,411

14,433,911

Net book value

At 28 February 2025

187,500

14,246,411

14,433,911

At 31 July 2024

187,500

11,096,173

11,283,673

Cost or valuation at 28 February 2025 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Valuation in 2017

-

6,577,403

6,577,403

Valuation in 2018

-

171,760

171,760

Valuation in 2019

-

1,360,957

1,360,957

Valuation in 2020

-

(2,206,527

)

(2,206,527

)

Valuation in 2021

-

255,446

255,446

Valuation in 2022

-

606,768

606,768

Valuation in 2023

-

246,911

246,911

Valuation in 2024

-

382,270

382,270

Valuation in 2025

-

3,150,238

3,150,238

Cost

187,500

3,701,185

3,888,685

187,500

14,246,411

14,433,911

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

33,606

19,418

Other debtors

332,217

876,426

365,823

895,844

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

2,684,260

119,776

Trade creditors

5,792

37,460

Amounts owed to group undertakings

550,103

712,705

Taxation and social security

25,773

30,728

Other creditors

3,179,401

1,644,510

6,445,329

2,545,179

8.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans

-

2,635,987

Amounts owed to group undertakings

3,265,123

2,620,297

3,265,123

5,256,284

9.	Secured debts

An unlimited cross guarantee exists between Step Property Limited and H&G Car Parks Limited. These are both subsidiaries of Step Property Group Limited.

Creditors for which security has been given amounted to £2,684,260 (2024 - £2,755,763 ). The bank loans are secured on the investment properties held by the company.

10.	Provisions for liabilities

2025

2024

£

£

Deferred tax

2,214,383

2,219,165

Deferred tax

£

Balance at 1 August 2024

2,219,165

Credit to Profit and Loss Account during period

(4,782

)

Balance at 28 February 2025

2,214,383

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

12.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the period ended 28 February 2025 and the year ended 31 July 2024:

2025

2024

£

£

Mr G J Perkins

Balance outstanding at start of period

217,727

217,504

Amounts advanced

-

223

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

217,727

217,727

13.	Related party disclosures

H&G Car Parks Limited is a subsidiary of Step Property Group Limited, included in the accounts are balances due to/from related companies Horton Leisure Limited and Step Property Limited, companies registered in England and Wales which form part of the Step Property Group, summarised as follows:

Amounts due from Associated Companies

Amounts due to Associated Companies

Step Property Limited

£464,103

Step Property Group Limited

£86,000

Step Property Finance Limited

£3,270,297

Included within other debtors are loans to Mr M W Perkins £1,000 (2024 - £1,000), Mrs S Perkins £10,000 (2024 - £10,000) and Mrs H Perkins £10,000 (2024 - £10,000). These are close relatives to the company directors.

During the period H&G Car Parks Limited incurred management charges of £43,750 (2024 - £75,000) from Step Property Limited.

14.	Ultimate controlling party

The company is controlled by the directors of Step Property Group Limited, the ultimate parent company.