IRIS Accounts Production v24.2.0.383 05168308 Board of Directors 1.1.23 31.12.23 31.12.23 0 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh051683082022-12-31051683082023-12-31051683082023-01-012023-12-31051683082021-12-31051683082022-01-012022-12-31051683082022-12-3105168308ns15:EnglandWales2023-01-012023-12-3105168308ns14:PoundSterling2023-01-012023-12-3105168308ns10:Director12023-01-012023-12-3105168308ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105168308ns10:SmallEntities2023-01-012023-12-3105168308ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105168308ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105168308ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105168308ns10:AbridgedAccounts2023-01-012023-12-3105168308ns10:OrdinaryShareClass12023-01-012023-12-3105168308ns5:CurrentFinancialInstruments2023-12-3105168308ns5:CurrentFinancialInstruments2022-12-3105168308ns5:Non-currentFinancialInstruments2023-12-3105168308ns5:Non-currentFinancialInstruments2022-12-3105168308ns5:ShareCapital2023-12-3105168308ns5:ShareCapital2022-12-3105168308ns5:RetainedEarningsAccumulatedLosses2023-12-3105168308ns5:RetainedEarningsAccumulatedLosses2022-12-3105168308ns10:RegisteredOffice2023-01-012023-12-3105168308ns5:ComputerEquipment2023-01-012023-12-3105168308ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 05168308 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PROMISE DEVELOPMENT LIMITED

PROMISE DEVELOPMENT LIMITED (REGISTERED NUMBER: 05168308)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


PROMISE DEVELOPMENT LIMITED (REGISTERED NUMBER: 05168308)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 75 186

CURRENT ASSETS
Debtors 6,829 5,133
Cash at bank 1,217 11
8,046 5,144
CREDITORS
Amounts falling due within one year 6,611 4,173
NET CURRENT ASSETS 1,435 971
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,510

1,157

CREDITORS
Amounts falling due after more than one
year

1,382

2,173
NET ASSETS/(LIABILITIES) 128 (1,016 )

CAPITAL AND RESERVES
Called up share capital 5 2 2
Retained earnings 126 (1,018 )
SHAREHOLDERS' FUNDS 128 (1,016 )

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.

PROMISE DEVELOPMENT LIMITED (REGISTERED NUMBER: 05168308)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 September 2024 and were signed on its behalf by:





A P Butland - Director


PROMISE DEVELOPMENT LIMITED (REGISTERED NUMBER: 05168308)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Promise Development Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05168308

Registered office: Old School House
South Broomhill
Morpeth
NE65 9RR

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.

The financial statements have been prepared on a going concern basis.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

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

PROMISE DEVELOPMENT LIMITED (REGISTERED NUMBER: 05168308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 7,257
DEPRECIATION
At 1 January 2023 7,071
Charge for year 111
At 31 December 2023 7,182
NET BOOK VALUE
At 31 December 2023 75
At 31 December 2022 186

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1.00 2 2