REGISTERED NUMBER: 02344354 (England and Wales)

SOUTH PARADE PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Austin

Mr A N Carter

Mr P Kilmartin

Mr M R Austin

Mr P A S Carter

SECRETARY:

Mr P Kilmartin

REGISTERED OFFICE:

Oakwell House

7 Butts Court

Leeds

LS1 5JS

REGISTERED NUMBER:

02344354 (England and Wales)

ACCOUNTANTS:

DSC

Chartered Accountants

Tattersall House

East Parade

Harrogate

North Yorkshire

HG1 5LT

SOLICITORS:

Walker Morris

33 Wellington Street

Leeds

LS1 4DL

FIXED ASSETS

Tangible assets

4

6,255

7,819

Investments

5

8,075

8,075

Investment property

6

19,839,738

19,150,000

19,854,068

19,165,894

CURRENT ASSETS

Debtors

7

157,793

158,409

Cash at bank

755,949

628,760

913,742

787,169

CREDITORS

Amounts falling due within one year

8

614,537

686,744

NET CURRENT ASSETS

299,205

100,425

TOTAL ASSETS LESS CURRENT LIABILITIES

20,153,273

19,266,319

CREDITORS

Amounts falling due after more than one year

9

(3,668,339

)

(3,759,021

)

PROVISIONS FOR LIABILITIES

(1,470,000

)

(1,370,000

)

NET ASSETS

15,014,934

14,137,298

CAPITAL AND RESERVES

Called up share capital

10,002

10,002

Non-distributable reserves

11

7,416,896

6,827,158

Retained earnings

11

7,588,036

7,300,138

SHAREHOLDERS' FUNDS

15,014,934

14,137,298

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 17 November 2025 and were signed on its behalf by:

Mr R Austin - Director

1.	STATUTORY INFORMATION

South Parade Properties Ltd 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.

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.

Turnover

Turnover represents rents and fees receivable for services net of value added tax.

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

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 year 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 May 2024

and 30 April 2025

167,402

DEPRECIATION

At 1 May 2024

159,583

Charge for year

1,564

At 30 April 2025

161,147

NET BOOK VALUE

At 30 April 2025

6,255

At 30 April 2024

7,819

5.	FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include a 100% holding of the Ordinary shares in Oakwell Projects (Leeds) Ltd. The company has reserves of £4,124 and has not traded in the current or previous year.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

19,150,000

Revaluations

689,738

At 30 April 2025

19,839,738

NET BOOK VALUE

At 30 April 2025

19,839,738

At 30 April 2024

19,150,000

Fair value at 30 April 2025 is represented by:

£

Valuation in 2021

5,127,758

Valuation in 2022

839,855

Valuation in 2023

130,276

Valuation in 2024

2,099,269

Valuation in 2025

689,738

Cost

10,952,842

19,839,738

If the investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

10,952,842

10,952,842

The company's investment properties were subject to a full revaluation on 30 April 2025 by a related party, Robert Austin of Robert Austin & Co, Chartered Surveyors, on an open market basis.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

45,059

64,369

Other debtors

109,600

69,100

Prepayments and accrued income

3,134

24,940

157,793

158,409

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

91,955

94,500

Trade creditors

1,832

27,985

Amounts owed to group undertakings

1,000

4,124

Corporation tax

133,019

98,129

Other tax and social security

75,403

80,339

Other creditors

2,470

2,470

Accruals and deferred income

308,858

379,197

614,537

686,744

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1 to 2 years

3,668,339

94,500

Bank loans - 2 to 5 years

-

3,664,521

3,668,339

3,759,021

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

3,760,294

3,853,521

The bank loans are secured by first legal charges over the following properties:

City Link Business Park, Bradford

Units 1-4. Oakwell Park, Birstall

Aintree Court, Leeds

Shawcross Court, Shawcross Business Park, Dewsbury

Lister House, Lister Hill, Horsforth

St James Business Park, New Augustus Street, Bradford

Innovation 25, Bradley Business Park, Huddersfield

11.

RESERVES

Retained

Non-distributable

earnings

reserves

Totals

£

£

£

At 1 May 2024

7,300,138

6,827,158

14,127,296

Profit for the year

1,477,636

1,477,636

Dividends

(600,000

)

(600,000

)

Revaluation of properties

(689,738

)

689,738

-

Deferred tax

100,000

(100,000

)

-

At 30 April 2025

7,588,036

7,416,896

15,004,932