Croydon Developments Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 13661739 (England and Wales)
Croydon Developments Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Croydon Developments Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Stock
26,069,629
24,139,043
Debtors
3
173,540
31,568
Cash at bank and in hand
315,429
1,318,156
26,558,598
25,488,767
Creditors: amounts falling due within one year
4
(577,914)
(7,925)
Net current assets
25,980,684
25,480,842
Capital and reserves
Called up share capital
5
26,000,000
25,500,000
Profit and loss reserves
(19,316)
(19,158)
Total equity
25,980,684
25,480,842

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Croydon Developments Limited
Balance Sheet (Continued)
As at 31 December 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 2 July 2024 and are signed on its behalf by:
S Zelicha
R Saban
Director
Director
E Swary
Director
Company Registration No. 13661739
Croydon Developments Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 3
1
Accounting policies
Company information

Croydon Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 James Street, London, United Kingdom, W1U 1DR.

1.1
Reporting period

The prior accounting period for the company covers the period from 05 October 2021 to 31 December 2022. The reason for this was for group and commercial reporting requirements. For this reason, the comparative amounts presented in the financial statements are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Stock

Stock includes the purchase cost of properties and costs related to proposed development work and is recorded at the lower of cost or net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has only basic financial instruments measured at amortised cost.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Croydon Developments Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 4
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
173,540
31,568
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
49,914
7,925
Other creditors
528,000
-
0
577,914
7,925
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
2023
2022
2023
2022
Preference share capital
Number
Number
£
£
Issued and fully paid
Preferred shares of £1 each
25,999,900
25,499,900
25,999,900
25,499,900
Preference shares classified as equity
25,999,900
25,499,900
Total equity share capital
26,000,000
25,500,000
Croydon Developments Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
6
Related party transactions

During the year the company received services from the parent company amounting to £440,000 (2022: £nil). At the balance sheet date Croydon Developments Limited owed that company £528,000 (2022: £nil).

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