Lodge Park St Crispins Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07516092 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

FOR

LODGE PARK ST CRISPINS

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J B Barrett

Mr MD Swan

REGISTERED OFFICE:

20 Kent Road

St Crispins Local Centre

Northampton

Northamptonshire

NN5 4DR

REGISTERED NUMBER:

07516092 (England and Wales)

AUDITORS:

Bewers Turner & Co LLP

Chartered Accountants & Statutory Auditor

Portland House

11-13 Station Road

Kettering

Northamptonshire

NN15 7HH

FIXED ASSETS

Investment property

4

4,100,000

4,100,000

CURRENT ASSETS

Debtors

5

67,096

43,344

Cash at bank

126,626

28,384

193,722

71,728

CREDITORS

Amounts falling due within one year

6

407,664

277,044

NET CURRENT LIABILITIES

(213,942

)

(205,316

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,886,058

3,894,684

CREDITORS

Amounts falling due after more than one year

7

(2,205,000

)

(2,250,000

)

PROVISIONS FOR LIABILITIES

(177,488

)

(177,488

)

NET ASSETS

1,503,570

1,467,196

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,503,470

1,467,096

SHAREHOLDERS' FUNDS

1,503,570

1,467,196

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th December 2021 and were signed on its behalf by:

Mr J B Barrett - Director

1.	STATUTORY INFORMATION

Lodge Park St Crispins 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 on a going concern basis not withstanding that at 31 March 2021 the company had net current liabilities of £213,942. The directors believe this basis to be appropriate as the parent company has undertaken to provide funds as necessary to meet liabilities as they fall due.

Significant judgements and estimates

In the process of applying the company's accounting policies, with the exception of the investment property, management has made no significant judgements which have a significant effect on the amounts recognised in the financial statements or made any significant estimates that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period, apart from the directors estimate of the fair value of the investment property.

Turnover

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

Investment property

Investment property is shown at directors' estimate of fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. The directors' estimate has been supported by a bank valuation of the property.

Financial instruments

The company is party to only basic financial instruments such as cash, trade debtors and creditors, and loans. Instruments such as trade debtors and creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as the bank loan, are measured at amortised cost using the effective interest rate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2020

and 31st March 2021

4,100,000

NET BOOK VALUE

At 31st March 2021

4,100,000

At 31st March 2020

4,100,000

Fair value at 31st March 2021 is represented by:

£

Valuation in 2011

1,239,473

Valuation in 2013

26,707

Valuation in 2014

(150,000

)

Valuation in 2019

350,000

Cost

2,633,820

4,100,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

60,875

43,344

Other debtors

6,221

-

67,096

43,344

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

90,000

90,000

Trade creditors

7,629

-

Amounts owed to group undertakings

192,183

93,714

Taxation and social security

21,769

11,898

Other creditors

96,083

81,432

407,664

277,044

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

2,205,000

2,250,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

2,295,000

2,340,000

The bank holds a charge over the assets of the company.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Bewers BSc FCA (Senior Statutory Auditor)

for and on behalf of Bewers Turner & Co LLP

10.	RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which the entity has a participating interest and directors were all concluded under normal market conditions.

11.	ULTIMATE CONTROLLING PARTY

The company is under the control of the directors by virtue of their shareholdings in Lodge Park Holdings Limited.

The smallest and largest undertaking for which the company is a member and for which group financial statements are prepared is Lodge Park Holdings Limited.