Mansion Park Properties Ltd - Accounts to registrar (filleted) - small 18.2

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 2018

for

Mansion Park Properties Ltd

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTOR:

J A Kaye

REGISTERED OFFICE:

67 Westow Street

Upper Norwood

London

SE19 3RW

REGISTERED NUMBER:

06522134 (England and Wales)

ACCOUNTANTS:

Thornton Springer LLP

Chartered Accountants

67 Westow Street

London

United Kingdom

SE19 3RW

FIXED ASSETS

Investments

1,250,285

2,250,385

Investment property

3,144,372

9,165,027

4,394,657

11,415,412

CURRENT ASSETS

Debtors

10,576,977

9,817,619

Cash at bank

415,673

263,310

10,992,650

10,080,929

CREDITORS

Amounts falling due within one year

(3,677,915

)

(7,107,042

)

NET CURRENT ASSETS

7,314,735

2,973,887

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,709,392

14,389,299

CREDITORS

Amounts falling due after more than one
year

(7,245,914

)

(8,672,634

)

PROVISIONS FOR LIABILITIES

(7,811

)

NET ASSETS

4,463,478

5,708,854

CAPITAL AND RESERVES

Called up share capital

Fair value reserve

1,364,553

Retained earnings

4,463,476

4,344,299

SHAREHOLDERS' FUNDS

4,463,478

5,708,854

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 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 on 27 September 2019 and were signed by:

J A Kaye - Director

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

COST

At 1 January 2018

2,250,385

Disposals

(1,000,100

)

At 31 December 2018

1,250,285

NET BOOK VALUE

At 31 December 2018

1,250,285

At 31 December 2017

2,250,385

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Putney Bridge Road Developments Limited

Registered office:

Nature of business: Property developments

Class of shares:

holding

Ordinary

50.00

Associated companies

Stone Control Ltd

Registered office:

Nature of business: Developments

Class of shares:

holding

Ordinary

26.50

Beardell Street Developments Ltd

Registered office:

Nature of business: Property Developments

Class of shares:

holding

Ordinary

20.00

6.	INVESTMENT PROPERTY

Total

FAIR VALUE

At 1 January 2018

9,165,027

Disposals

(4,648,291

)

Revaluations

(1,372,364

)

At 31 December 2018

3,144,372

NET BOOK VALUE

At 31 December 2018

3,144,372

At 31 December 2017

9,165,027

Fair value at 31 December 2018 is represented by:

Cost

3,144,372

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

31.12.18

31.12.17

Cost

3,144,372

7,792,663

Investment properties were valued on an open market basis on 31 December 2018 by the director .

DEBTORS

31.12.18

31.12.17

Amounts falling due within one year:

Trade debtors

65,669

Other debtors

7,394,924

6,559,775

7,394,924

6,625,444

Amounts falling due after more than one year:

Other debtors

3,182,053

3,192,175

Aggregate amounts

10,576,977

9,817,619

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

Bank loans and overdrafts

160,486

477,641

Trade creditors

Taxation and social security

31,575

58,932

Other creditors

3,485,853

6,570,469

3,677,915

7,107,042

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.18

31.12.17

Bank loans

1,637,766

Other creditors

7,245,914

7,034,868

7,245,914

8,672,634

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

7,245,914

7,034,868

Repayable by instalments

Bank loans over 5 years by instalments

504,959

10.	RELATED PARTY DISCLOSURES

Included in 'Other Debtors' is an amount totalling £2,307,001 (2017: £1,943,001) owed by Lydden Hill Race

Circuit Ltd, a wholly owned subsidiary.

'Other Creditors' falling due within 1 year includes an amount totalling £3,476,253 (2017: £6,487,121) owed to

Mansion Holdings Limited, the controlling company.

'Other Creditors' falling due after more than 1 year includes an amount totalling £7,245,914 (2017: £7,034,868)

owed to Mansion Holdings Limited, the controlling company.