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REGISTERED NUMBER: 08834948 (England and Wales)















Amazone Developments Ltd

Financial Statements For The Year Ended 31 December 2023






Amazone Developments Ltd (Registered number: 08834948)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Amazone Developments Ltd

Company Information
For The Year Ended 31 December 2023







DIRECTORS: A Hemeyer
M L Smith



REGISTERED OFFICE: Orchard Farm
Hurst Lane
Auckley
DONCASTER
South Yorkshire
DN9 3NW



REGISTERED NUMBER: 08834948 (England and Wales)



AUDITORS: Kingswood Allotts Limited, Statutory Auditor
Chartered Accountants
Sidings Court
Lakeside
Doncaster
DN4 5NU



BANKERS: National Westminster Bank plc
23-25 Market Place
Bawtry
Doncaster
DN10 6JL

Amazone Developments Ltd (Registered number: 08834948)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,501,926 4,501,926

CURRENT ASSETS
Debtors 5 17,849 17,849
Cash at bank 79,710 50,230
97,559 68,079
CREDITORS
Amounts falling due within one year 6 248,286 168,235
NET CURRENT LIABILITIES (150,727 ) (100,156 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,351,199 4,401,770

CREDITORS
Amounts falling due after more than one year 7 (3,602,273 ) (3,802,244 )

PROVISIONS FOR LIABILITIES 9 (107,691 ) (98,540 )
NET ASSETS 641,235 500,986

CAPITAL AND RESERVES
Called up share capital 10 20,000 20,000
Retained earnings 621,235 480,986
SHAREHOLDERS' FUNDS 641,235 500,986

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 7 August 2024 and were signed on its behalf by:





M L Smith - Director


Amazone Developments Ltd (Registered number: 08834948)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Amazone Developments Ltd 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
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with Section 1A of FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The presentational and functional currency of these financial statements is GBP. Values are rounded to the nearest pound.

The following principal accounting policies have been applied:

Going concern
The directors have continued to adopt the going concern basis in preparing the financial statements. For more detail please see Review of Business in the Report of the Directors.

Critical accounting judgements and key sources of estimation uncertainty
The directors assess at the end of each reporting period the fair value of the building owned by the company including objective evidence of impairment. Potential indicators of impairment could include market decline of the tenant company (in the agricultural sector), or property valuation trends in the local area. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings. The directors conclude there were no indicators of impairment as at 31 December 2023.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income is recognised in the statement of income and retained earnings in the period to which it relates.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The directors consider that due to the recent construction of the buildings that cost is a reasonable estimate of fair value.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like other accounts receivable and payable and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


Amazone Developments Ltd (Registered number: 08834948)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 4,501,926
NET BOOK VALUE
At 31 December 2023 4,501,926
At 31 December 2022 4,501,926

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 17,849 17,849

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 199,970 134,514
Trade creditors - 360
Taxation 34,690 20,921
Social security and other taxes 11,000 9,940
Accruals and deferred income 2,626 2,500
248,286 168,235

In the year a further review of the loan agreement has been undertaken. The balance repayable has been split between creditors due within one year and creditors due after more than one year. The prior year balances have been amended accordingly.

Amazone Developments Ltd (Registered number: 08834948)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans - 1-2 years 207,105 199,970
Other loans - 2-5 years 728,692 674,200
Other loans more than 5 years payable by installments 2,666,476 2,928,074
3,602,273 3,802,244

Amounts falling due in more than five years:

Repayable by instalments
Other loans more than 5 years payable by installments 2,666,476 2,928,074

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 3,802,243 3,936,758

The loan is secured on the investment property. Interest is charged at an interest rate of 3.5% per annum.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 107,691 98,540

Deferred
tax
£   
Balance at 1 January 2023 98,540
Provided during year 9,151
Balance at 31 December 2023 107,691

Deferred taxation has been provided at 25%.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20,000 Ordinary £1 20,000 20,000

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

The Report of the Auditors was unqualified.

Mark Garrison BCom FCA DChA (Senior Statutory Auditor)
for and on behalf of Kingswood Allotts Limited, Statutory Auditor

Amazone Developments Ltd (Registered number: 08834948)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

12. 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 entities within the group.

13. ULTIMATE CONTROLLING PARTY

The smallest group for which consolidated financial statements are drawn up is headed by CJ Invest GmbH whose registered office is Am Amazonenwerk 9-13, D-49205 Hasbergen.