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EGBURY DEVELOPMENTS LTD
REGISTERED NUMBER:13786707
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Allotted and called up share capital
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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Mr JJ Whelan
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The notes on pages 2 to 3 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
Egbury Developments Limited is a private company, limited by shares, and incorporated in England and Wales. The address of the registered office, which is also the principal place of business, is disclosed on the company information page.
The company was incorporated on 7 December 2021.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Work in progress is carried at cost less impairment provision.
Costs include all legal and professional fees relatng to the acquisition of land and property, obtaining planning consents and the costs of construction and redevelopment.
The company assesses at each year-end whether any work in progress is impaired. The assessment is made by comparing the carrying amount of work in progress with its selling price less costs to complete and sell. If any impairment is found, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
The Company is yet to generate any revenue due to the stage of completion of the projects at 31 March 2023. However the parent company have given their support and will continue to do so, with no plans to call in the intercompany debt.
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The Company has no employees other than the Directors, who did not receive any remuneration (2022 - £NIL).
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Creditors: Amounts falling due after more than one year
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The bank loans are secured via a First Legal Charge over the freehold property (known as Egbury Farm Barns, Egbury Road, St Mary Bourne, Andover, Hampshire, SP11 6DL), a personal guarantee from JJ Whelan and JE Whelan and a First Mortgage Debenture over all of the Borrower's assets and undertakings.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
The parent of the smallest group for which consolidated financial statements are drawn up is Natta Building Company Limited. The address of its registered office is Rose Court, Rye Common Lane, Crondall, Farnham, Surrey, GU10 5DD.
The auditors' report on the financial statements for the period ended 31 March 2023 was unqualified.
The audit report was signed on 6 October 2023 by Charlotte Langdon ACA (Senior statutory auditor) on behalf of Menzies LLP.
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