CRACKNORE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Cracknore Developments Limited is a private company limited by share capital, incorporated in England and Wales, registration number 08486345. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.
The principal activity of the company is to manage and develop waste-to-energy and infrastructure projects. These by their nature, may take some time to come to fruition.
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:
The accounts have been prepared on a going concern basis. This basis is considered appropriate as the company's shareholders have indicated that they will continue to provide support to enable the company to meet its liabilities as they fall due.
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Investments in associates
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Investments in associates are held at cost less impairment.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.
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The average monthly number of employees, including directors, during the year was 3 (2022 - 3).
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