Mansion Park Properties Ltd - Accounts to registrar - small 16.1.1

Mansion Park Properties Ltd - Accounts to registrar - small 16.1.1

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 2015

for

Mansion Park Properties Ltd

Mansion Park Properties Ltd (Registered number: 06522134)






Contents of the Financial Statements
for the Year Ended 31 December 2015




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Mansion Park Properties Ltd

Company Information
for the Year Ended 31 December 2015







DIRECTOR: S A Kaye FCA, FCCA





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
Page 1
Mansion Park Properties Ltd (Registered number: 06522134)

Abridged Balance Sheet
31 December 2015

31.12.15 31.12.14
Notes £    £   
FIXED ASSETS
Investments 5 2,250,385 2,250,385
Investment property 6 9,165,027 7,792,663
11,415,412 10,043,048

CURRENT ASSETS
Debtors: amounts falling due within one year 7 7,332,748 59,436
Debtors: amounts falling due after more than
one year
7
3,322,944
10,502,560
Cash at bank 79,199 145,028
10,734,891 10,707,024
CREDITORS
Amounts falling due within one year 8 (7,584,790 ) (7,401,949 )
NET CURRENT ASSETS 3,150,101 3,305,075
TOTAL ASSETS LESS CURRENT
LIABILITIES
14,565,513
13,348,123

CREDITORS
Amounts falling due after more than one
year
9
(9,164,457
)
(9,347,293
)

PROVISIONS FOR LIABILITIES (95,237 ) -
NET ASSETS 5,305,819 4,000,830

CAPITAL AND RESERVES
Called up share capital 2 2
Non-distributable reserves 1,277,127 -
Retained earnings 4,028,690 4,000,828
SHAREHOLDERS' FUNDS 5,305,819 4,000,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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)

Abridged Balance Sheet - continued
31 December 2015


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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2015 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 September 2016 and were signed by:





S A Kaye FCA, FCCA - 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 2015

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.

2. STATEMENT OF COMPLIANCE

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. These are the company's first financial statements prepared in accordance with FRS 102 section 1A. The transitional adjustments are included in the notes to the financial statements.

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 has taken the option
under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date where transactions or events that result in an obligation to pay more, or a right to pay less, tax in the
future have occurred at the balance sheet date.

This is subject to deferred tax assets only being recognised if it is considered more likely than not that there will
be suitable profits from which the future reversal of the underlying timing differences can be deducted.

Timing differences are differences arising between the Company's taxable profits and its results as stated in the
financial statements, which are capable of reversal in one or more subsequent periods.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the
balance sheet date that are expected to apply to the reversal of the timing difference.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

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

Notes to the Financial Statements - continued
for the Year Ended 31 December 2015

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2015
and 31 December 2015 2,250,385
NET BOOK VALUE
At 31 December 2015 2,250,385
At 31 December 2014 2,250,385

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2015 7,792,663
Revaluations 1,372,364
At 31 December 2015 9,165,027
NET BOOK VALUE
At 31 December 2015 9,165,027
At 31 December 2014 7,792,663

Cost or valuation at 31 December 2015 is represented by:

£   
Valuation in 2015 1,372,364
Cost 7,792,663
9,165,027

Investment properties were valued on an open market basis on 31 December 2015 by the director .

7. DEBTORS
31.12.15 31.12.14
£    £   
Amounts falling due within one year:
Trade debtors 24,723 59,436
Other debtors 7,308,025 -
7,332,748 59,436

Amounts falling due after more than one year:
Other debtors 3,322,944 10,502,560

Aggregate amounts 10,655,692 10,561,996

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

Notes to the Financial Statements - continued
for the Year Ended 31 December 2015

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.15 31.12.14
£    £   
Bank loans and overdrafts 380,011 384,049
Trade creditors 1 1,799
Taxation and social security 12,900 11,035
Other creditors 7,191,878 7,005,066
7,584,790 7,401,949

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.15 31.12.14
£    £   
Bank loans 2,533,419 2,909,392
Other creditors 6,631,038 6,437,901
9,164,457 9,347,293

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 6,631,038 6,437,901

Repayable by instalments
Bank loans over 5 years by instalments 1,097,249 1,114,818

10. RELATED PARTY DISCLOSURES

Included in 'Other Debtors' is an amount totalling £1,546,803 (2014: £1,235,168) owed by Lydden Hill Race
Circuit Ltd, a wholly owned subsidiary.

'Other Creditors' falling due within 1 year includes an amount totalling £7,098,780 (2014: £6,932,048) owed to
Mansion Holdings Limited, the controlling company.


'Other Creditors' falling due after more than 1 year includes an amount totalling £6,631,038 (2014: £6,437,901)
owed to Mansion Holdings Limited, the controlling company.

11. ULTIMATE CONTROLLING PARTY

The company is under the control of Mansion Holdings Ltd, a company registered in Belize, which in turn is
owned by Patriot Fjarfesting ehf, a company registered in Iceland.

Page 6