Enviroparks (Hirwaun Properties) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06026061 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Enviroparks (Hirwaun Properties) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D R Williams

REGISTERED OFFICE:

1st Floor Tiverton Chambers

Lion Street

ABERGAVENNY

Monmouthshire

NP7 5PN

REGISTERED NUMBER:

06026061 (England and Wales)

FIXED ASSETS

Tangible assets

3

18,265,000

18,265,000

CURRENT ASSETS

Debtors

4

157

77

CREDITORS

Amounts falling due within one year

5

1,746,350

1,745,835

NET CURRENT LIABILITIES

(1,746,193

)

(1,745,758

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,518,807

16,519,242

PROVISIONS FOR LIABILITIES

7

2,875,734

2,875,734

NET ASSETS

13,643,073

13,643,508

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

8

16,916,080

16,916,080

Retained earnings

8

(3,273,008

)

(3,272,573

)

SHAREHOLDERS' FUNDS

13,643,073

13,643,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 25 July 2019 and were signed by:

D R Williams - Director

1.	STATUTORY INFORMATION

Enviroparks (Hirwaun Properties) 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.

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.

The financial statements have been prepared under the going concern basis.

At the balance sheet date the company had net current liabilities of £1,746,193 (2017 £1,745,758).

Going Concern

The Company is reliant on the continued support of Enviorparks (Wales) Limited. The company has

received confirmation that this support will be ongoing covering at least a period of twelve months

from the signing of these accounts.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

Depreciation has not been provided as the directors consider the useful economic life of tangible fixed

assets to be greater than 50 years.

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.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1 January 2018

and 31 December 2018

18,265,000

NET BOOK VALUE

At 31 December 2018

18,265,000

At 31 December 2017

18,265,000

The freehold land and buildings have been pledged as security for borrowings of the company and the

Enviroparks Wales Group. Full details of the Charges have been registered at Companies House.

Cost or valuation at 31 December 2018 is represented by:

Freehold

property

£

Valuation in 2013

1,348,920

Valuation in 2014

5,651,080

Valuation in 2015

11,265,000

18,265,000

If freehold land and buildings had not been revalued they would have been included at the following

historical cost:

2018

2017

£

£

Cost

1,348,920

1,348,920

Freehold land and buildings were valued on an open market basis on 30 October 2015 by Savills. .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

157

77

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

480

-

Owed to group undertaking

1,745,450

1,745,450

Accrued expenses

420

385

1,746,350

1,745,835

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Owed to Group Undertakings

1,745,450

1,745,450

Greyfriars Administration Services Limited (as security trustee) hold by way of a fixed and floating

charge, the land on the North side of Fifth Avenue, Hirwaun Industrial Estate, Hirwaun, Aberdare and

land lying to the North West Side of Ninth Avenue, Hirwaun Industrial Estate, Hirwaun, Aberdare

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

2,875,734

2,875,734

Deferred

tax

£

Balance at 1 January 2018

2,875,734

Balance at 31 December 2018

2,875,734

8.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2018

(3,272,573

)

16,916,080

13,643,507

Deficit for the year

(435

)

-

(435

)

At 31 December 2018

(3,273,008

)

16,916,080

13,643,072

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Zeus Renewables Ltd.