Mansion Park Properties Ltd - Accounts to registrar (filleted) - small 23.2

Mansion Park Properties Ltd - Accounts to registrar (filleted) - small 23.2

MANSION PARK PROPERTIES LTD - Company Information

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REGISTERED NUMBER: 06522134 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Mansion Park Properties Ltd
Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
United Kingdom
SE19 3RW








Mansion Park Properties Ltd (Registered number: 06522134)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mansion Park Properties Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTOR: J A Kaye





REGISTERED OFFICE: 67 Westow Street
London
SE19 3RW





REGISTERED NUMBER: 06522134 (England and Wales)





ACCOUNTANTS: Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
United Kingdom
SE19 3RW
Page 1
Mansion Park Properties Ltd (Registered number: 06522134)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £   
FIXED ASSETS
Investments 5 10 10
Investment property 6 3,144,372 3,144,372
3,144,382 3,144,382

CURRENT ASSETS
Debtors 7 10,613,611 10,936,298
Cash at bank 962 27,558
10,614,573 10,963,856
CREDITORS
Amounts falling due within one year 8 (2,437,367 ) (2,487,617 )
NET CURRENT ASSETS 8,177,206 8,476,239
TOTAL ASSETS LESS CURRENT
LIABILITIES
11,321,588
11,620,621

CREDITORS
Amounts falling due after more than one
year
9
(8,179,507
)
(7,951,973
)
NET ASSETS 3,142,081 3,668,648

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,142,079 3,668,646
SHAREHOLDERS' FUNDS 3,142,081 3,668,648

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 notes form part of these financial statements

Page 2 continued...
Mansion Park Properties Ltd (Registered number: 06522134)

Balance Sheet - continued
31 December 2022


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 director and authorised for issue on 4 August 2023 and were signed by:





J A Kaye - Director


The notes form part of these financial statements

Page 3
Mansion Park Properties Ltd (Registered number: 06522134)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Mansion Park 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

Preparation of consolidated financial statements
The financial statements contain information about Mansion Park Properties Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Exemption from preparing consolidated accounts is claimed on the basis that this is a small group.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are shown at most recent valuation. any aggregate surplus or deficit arising from changes in market value are recognised in the income statement.

In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of FRS 102 section 1A in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation.

However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

Page 4 continued...
Mansion Park Properties Ltd (Registered number: 06522134)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2022
and 31 December 2022 10
NET BOOK VALUE
At 31 December 2022 10
At 31 December 2021 10

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022
and 31 December 2022 3,144,372
NET BOOK VALUE
At 31 December 2022 3,144,372
At 31 December 2021 3,144,372

Fair value at 31 December 2022 is represented by:
£   
Cost 3,144,372

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

31.12.22 31.12.21
£    £   
Cost 3,144,372 3,144,372

Investment properties were valued on an open market basis on 31 December 2022 by the director .

7. DEBTORS
31.12.22 31.12.21
£    £   
Amounts falling due within one year:
Other debtors 7,679,798 8,002,485

Amounts falling due after more than one year:
Other debtors 2,933,813 2,933,813

Aggregate amounts 10,613,611 10,936,298

Page 5 continued...
Mansion Park Properties Ltd (Registered number: 06522134)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors (1 ) (1 )
Other creditors 2,427,368 2,477,618
2,437,367 2,487,617

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans 24,167 34,167
Other creditors 8,155,340 7,917,806
8,179,507 7,951,973

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 8,155,340 7,917,806

10. RELATED PARTY DISCLOSURES

'Other Creditors' falling due within 1 year includes an amount totalling £2,167,768 (2021: £2,211,768) owed to Patriot Fjarfesting ehf, the controlling company.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Patriot Fjarfesting ehf, a companyregistered in Iceland..

Page 6