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REGISTERED NUMBER: 07022469 (England and Wales)













Audited Financial Statements

for the Year Ended 31 March 2023

for

Finchley Developments C&G No2 Limited

Finchley Developments C&G No2 Limited (Registered number: 07022469)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Finchley Developments C&G No2 Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: P L Murphy
M Slane





SECRETARY: M M Slane





REGISTERED OFFICE: Winston House
2 Dollis Park
London
N3 1HF





REGISTERED NUMBER: 07022469 (England and Wales)





AUDITORS: Elliotts Shah
Statutory Auditor
Chartered Accountants
4th Floor
167 Fleet Street
London
EC4A 2EA

Finchley Developments C&G No2 Limited (Registered number: 07022469)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 6,386,133 6,565,643
Debtors 4 64,386 59,074
Cash at bank 77,039 77,128
6,527,558 6,701,845
CREDITORS
Amounts falling due within one year 5 2,871,952 3,707,113
NET CURRENT ASSETS 3,655,606 2,994,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,655,606

2,994,732

CREDITORS
Amounts falling due after more than one
year

6

3,534,568

2,723,547
NET ASSETS 121,038 271,185

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 121,037 271,184
SHAREHOLDERS' FUNDS 121,038 271,185

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 Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





P L Murphy - Director


Finchley Developments C&G No2 Limited (Registered number: 07022469)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Finchley Developments C&G No2 Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Going concern
After considering the company's prospects, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Stocks
Stock is stated at the lower of cost and net realisable value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,675 6,222
Other debtors 3,880 3,880
Prepayments and accrued income 52,831 48,972
64,386 59,074

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 79,770 76,453
Trade creditors 5,480 31,594
Amounts owed to group undertakings 2,735,825 3,555,826
VAT 2,010 1,462
Other creditors 3,880 3,880
Accruals and deferred income 44,987 37,898
2,871,952 3,707,113

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 79,770 76,453
Bank loans - 2-5 years 3,454,798 2,647,094
3,534,568 2,723,547

Finchley Developments C&G No2 Limited (Registered number: 07022469)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 3,614,338 2,800,000

The bank loan is secured by a legal charge over one of the company's development properties.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Arvind Shah (Senior Statutory Auditor)
for and on behalf of Elliotts Shah

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of MFC Estates plc, a company registered in England and Wales. MFC Estates plc is under the control of the director, P L Murphy, by virtue of his beneficial interest in that company.