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REGISTERED NUMBER: 03167284 (England and Wales)















CORBALLY DEVELOPMENTS LIMITED

Financial Statements for the Year Ended 31 December 2023






CORBALLY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03167284)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORBALLY DEVELOPMENTS LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P J Kelly
D N Kelly
Mrs S A O'Donnell





REGISTERED OFFICE: The Mill
One High Street
Henley-in- Arden
Warwickshire
B95 5AA





REGISTERED NUMBER: 03167284 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

CORBALLY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03167284)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,435,291 3,194,515

CURRENT ASSETS
Debtors 5 33,597 14,535
Cash at bank 54,158 4,728
87,755 19,263
CREDITORS
Amounts falling due within one year 6 3,488,308 2,255,475
NET CURRENT LIABILITIES (3,400,553 ) (2,236,212 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,034,738

958,303

PROVISIONS FOR LIABILITIES 39,652 39,652
NET ASSETS 995,086 918,651

CAPITAL AND RESERVES
Called up share capital 7 3 3
Fair value reserve 8 193,597 193,597
Retained earnings 801,486 725,051
SHAREHOLDERS' FUNDS 995,086 918,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CORBALLY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03167284)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





P J Kelly - Director


CORBALLY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03167284)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Corbally Developments Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Investment property
The directors consider the carrying value of each property to approximate market value.

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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

CORBALLY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03167284)

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


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 3,194,515
Additions 1,240,776
At 31 December 2023 4,435,291
NET BOOK VALUE
At 31 December 2023 4,435,291
At 31 December 2022 3,194,515

The investment property is valued by the directors at the year end at open market value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 5,198 10,000
Other debtors 28,399 4,535
33,597 14,535

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 68,350 57,744
Taxation and social security 23,505 8,850
Other creditors 3,396,453 2,188,881
3,488,308 2,255,475

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
3 Ordinary £1 3 3

8. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 193,597

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.