REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
EXCHANGE DEVELOPMENT 001 LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
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 |
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 |
4. | STOCKS |
30.4.23 | 30.4.22 |
£ | £ |
Work-in-progress |
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 |
VAT |
Called up share capital not paid |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Trade creditors |
Amounts owed to participating interests | 1,008,278 | 1,308,419 |
Other creditors |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Other loans (see note 8) |
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. |