Company registration number 13337780 (England and Wales)
PRESENT MADE NRE DEVELOPMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
PRESENT MADE NRE DEVELOPMENT COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PRESENT MADE NRE DEVELOPMENT COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
138
5
Cash at bank and in hand
157
38
295
43
Creditors: amounts falling due within one year
4
(63,754)
(272)
Net current liabilities
(63,459)
(229)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(63,461)
(231)
Total equity
(63,459)
(229)

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.

The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
Mr A C Berman
Director
Company registration number 13337780 (England and Wales)
PRESENT MADE NRE DEVELOPMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Present Made NRE Development Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Richard House, 9 Winckley Square, Preston, PR1 3HP.

1.1
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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

1.2
Going concern

The Directors are required to assess whether the use of going concern is appropriate, ie whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The Directors make this assessment in respect of a period of at least one year from the date of authorisation of the accounts. At the date of approving these accounts the Directors consider that the company has sufficient funds to meet liabilities as they fall due for a period of at least twelve months from the date of signing the accounts and as such the preparation of the accounts on a going concern basis is appropriate.  

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from development management fees is recognised on a periodic basis over the fixed list of the development management contracts.

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 elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PRESENT MADE NRE DEVELOPMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The company had no employees in the current or prior year.

PRESENT MADE NRE DEVELOPMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
138
-
0
Other debtors
-
0
5
138
5
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
-
0
0
272
Taxation and social security
63,754
-
0
63,754
272
5
Related party transactions
2023
2022
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
-
0
272

The following amounts were outstanding at the reporting end date:

2023
2023
2023
Balance
Provision
Net
Amounts due from related parties
£
£
£
Entities with control, joint control or significant influence over the company
360,183
360,045
138
There were no amounts owed in the previous period.
6
Parent company

The ultimate holding company is Apache Holdings Limited a company registered in England and Wales. The registered office of the holding company is Richard House, 9 Winckley Square, Preston, PR1 3HP.

2023-12-312023-01-01falseCCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr R M JacksonMr D WilliamsMr A PenfoldMr A C BermanMr A C Bermanfalse133377802023-01-012023-12-31133377802023-12-31133377802022-12-3113337780core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3113337780core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3113337780core:CurrentFinancialInstruments2023-12-3113337780core:CurrentFinancialInstruments2022-12-3113337780core:ShareCapital2023-12-3113337780core:ShareCapital2022-12-3113337780core:RetainedEarningsAccumulatedLosses2023-12-3113337780core:RetainedEarningsAccumulatedLosses2022-12-3113337780bus:CompanySecretaryDirector12023-01-012023-12-3113337780core:WithinOneYear2023-12-3113337780core:WithinOneYear2022-12-3113337780core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity2023-12-3113337780bus:PrivateLimitedCompanyLtd2023-01-012023-12-3113337780bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3113337780bus:FRS1022023-01-012023-12-3113337780bus:AuditExemptWithAccountantsReport2023-01-012023-12-3113337780bus:Director12023-01-012023-12-3113337780bus:Director22023-01-012023-12-3113337780bus:Director32023-01-012023-12-3113337780bus:Director42023-01-012023-12-3113337780bus:CompanySecretary12023-01-012023-12-3113337780bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP