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REGISTERED NUMBER: 11921430 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

EXCHANGE DEVELOPMENT 001 LIMITED

EXCHANGE DEVELOPMENT 001 LIMITED (REGISTERED NUMBER: 11921430)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXCHANGE DEVELOPMENT 001 LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2023







DIRECTOR: Mr Stuart Alexander Law





REGISTERED OFFICE: Assetz House
Manchester Green
335 Styal Road
Manchester
M22 5LW





REGISTERED NUMBER: 11921430 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

EXCHANGE DEVELOPMENT 001 LIMITED (REGISTERED NUMBER: 11921430)

BALANCE SHEET
30 April 2023

30.4.23 30.4.22
Notes £    £   
CURRENT ASSETS
Stocks 4 2,349,325 966,134
Debtors 5 147,689 233,460
Cash at bank 75,312 48,099
2,572,326 1,247,693
CREDITORS
Amounts falling due within one year 6 1,097,451 1,400,042
NET CURRENT ASSETS/(LIABILITIES) 1,474,875 (152,349 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,474,875 (152,349 )

CREDITORS
Amounts falling due after more than one
year

7

1,943,200

-
NET LIABILITIES (468,325 ) (152,349 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (468,326 ) (152,350 )
SHAREHOLDERS' FUNDS (468,325 ) (152,349 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

EXCHANGE DEVELOPMENT 001 LIMITED (REGISTERED NUMBER: 11921430)

BALANCE SHEET - continued
30 April 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 April 2024 and were signed by:





Mr Stuart Alexander Law - Director


EXCHANGE DEVELOPMENT 001 LIMITED (REGISTERED NUMBER: 11921430)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

Exchange Development 001 Limited is a private company, limited by shares, registered in England and Wales, registration number 11921430. The address of the registered office and the principal place of business is Assetz House, Manchester Green, 335 Styal Road, Manchester, M22 5LW.

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
At the reporting date, the company's liabilities exceed its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of approval of these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts.

Turnover is generated from the development of residential property.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the first-in-first-out principle and includes expenditure in acquiring the stocks, product or conversion costs and other costs in bringing them to their existing location and condition.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise of cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. STOCKS
30.4.23 30.4.22
£    £   
Work-in-progress 2,349,325 966,134

EXCHANGE DEVELOPMENT 001 LIMITED (REGISTERED NUMBER: 11921430)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors - 223,000
VAT 52,949 10,459
Called up share capital not paid 1 1
Prepayments 94,739 -
147,689 233,460

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 40,803 84,473
Amounts owed to participating interests 1,008,278 1,308,419
Other creditors 46,500 5,500
Accrued expenses 1,870 1,650
1,097,451 1,400,042

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.23 30.4.22
£    £   
Other loans (see note 8) 1,943,200 -

8. LOANS

An analysis of the maturity of loans is given below:

30.4.23 30.4.22
£    £   
Amounts falling due between one and two years:
Other loans - 1-2 years 1,943,200 -

9. RELATED PARTY DISCLOSURES

Included within other creditors is a loan owed to a connected party company of £1,008,278 (2022: £1,308,419). This loan is interest free and has no set repayment date.