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REGISTERED NUMBER:
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EDINBURGH PARK (MANAGEMENT) LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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REGISTERED NUMBER:
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EDINBURGH PARK (MANAGEMENT) LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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EDINBURGH PARK (MANAGEMENT) LIMITED (REGISTERED NUMBER: SC137394) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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EDINBURGH PARK (MANAGEMENT) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Citypoint |
65 Haymarket Terrace |
Edinburgh |
EH12 5HD |
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BANKERS: |
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New Uberior House |
11 Earl Grey Streeet |
Edinburgh |
EH3 9BN |
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SOLICITORS: |
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1 Exchange Crescent |
Conference Square |
Edinburgh |
EH3 8UL |
EDINBURGH PARK (MANAGEMENT) LIMITED (REGISTERED NUMBER: SC137394) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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RESERVES | - | - |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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EDINBURGH PARK (MANAGEMENT) LIMITED (REGISTERED NUMBER: SC137394) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Edinburgh Park (Management) Limited is a private company, limited by guarantee, without share capital, |
registered in Scotland. |
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The company's registered number is SC137394 and it's registered office is c/o Shepherd & Wedderburn, 1 |
Exchange Crescent, Conference Square, Edinburgh, EH3 8UL. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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This is the first year in which the financial statements have been prepared under FRS 102. The transition from |
preparing the financial statements in accordance with FRSSE 2015 to FRS 102 (1A) has had no material impact |
on either the financial position or the financial performance as previously reported by the company.The effective |
date of transition to FRS 102 is January 2015. |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable. |
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Any excess of income is set aside for future capital expenditure and repair costs. These funds are held within |
other creditors. |
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Tangible fixed assets |
Depreciation of fixed assets is calculated to write off the cost less any residual value over their estimated useful |
life as follows: |
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Plant and machinery - 20% on cost |
Motor vehicles - 33.33% on cost |
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Going concern policy |
The directors have considered the cash requirements of the company for at least the next 12 months and consider |
there to be adequate financial resource within the company. The financial statements are therefore prepared on |
the going concern basis. |
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Other policies |
Tag Han policy |
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Tag Han represents funds received from users of the barriered vehicle access route at Edinburgh Park. The |
balance represents deposits refundable on return of key fobs by users and funds to be utilised for capital works |
on car parking facilities. |
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Sinking Fund policy |
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The Sinking Fund represents the funds that are to be utilised when capital works take place at Edinburgh Park. |
This fund has been built up over a number of years and represents surpluses achieved by Edinburgh Park |
(Management) Limited. |
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Statement of judgements |
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In the view of the directors there were no significant judgements or key sources of estimation uncertainty |
identified in the preparation of these financial statements. |
EDINBURGH PARK (MANAGEMENT) LIMITED (REGISTERED NUMBER: SC137394) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
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Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts |
when there is objective evidence that the asset is impaired. Cash in the balance sheet comprises cash on hand. |
Trade creditors, accrued expenses and other creditors are recognised where the company has a present obligation |
resulting from a past event and are recognised at the settlement amount due after allowing for any trade |
discounts due. |
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3. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
and 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Current a/c - Service charge |
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Current a/c - Rent | 60 | - |
Tag Han | 116,242 | 102,011 |
Sinking fund | 383,199 | 360,878 |
Other debtors | 1,910 | - |
Prepayments |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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VAT | 11,415 | 14,670 |
Other creditors |
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Accrued expenses |
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Deferred revenue |
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Included in other creditors are sums due to occupiers that have been held for the purposes of building up a fund |
to cover future capital and repair costs. |
EDINBURGH PARK (MANAGEMENT) LIMITED (REGISTERED NUMBER: SC137394) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | OTHER FINANCIAL COMMITMENTS |
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As at 31 December 2016 the company had future minimum lease payments under non-cancellable operating |
leases as follows : |
2016 | 2015 |
£ | £ |
Not later than 1 year | 41,738 | 41,738 |
Later than 1 year but not later than 5 years | 78,895 | 120,633 |
120,633 | 162,371 |
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8. | ULTIMATE CONTROLLING PARTY |
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In the view of the directors there is no ultimate controlling party in relation to Edinburgh Park (Management) |
Limited. |