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COMPANY REGISTRATION NUMBER: 11555338
ONE RETAIL DEVELOPMENTS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 January 2024
ONE RETAIL DEVELOPMENTS LTD
FINANCIAL STATEMENTS
Year ended 31 January 2024
CONTENTS
PAGES
Balance sheet
1
Notes to the financial statements
2 to 3
ONE RETAIL DEVELOPMENTS LTD
BALANCE SHEET
31 January 2024
2024
2023
Note
£
£
CURRENT ASSETS
Debtors
4
41,181
56,761
Cash at bank and in hand
1,280
--------
--------
41,181
58,041
CREDITORS: amounts falling due within one year
5
( 12,570)
( 15,728)
--------
--------
NET CURRENT ASSETS
28,611
42,313
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
28,611
42,313
CREDITORS: amounts falling due after more than one year
6
( 17,397)
( 28,367)
--------
--------
NET ASSETS
11,214
13,946
--------
--------
CAPITAL AND RESERVES
Called up share capital
300
300
Capital contribution reserve
3,249
3,249
Profit and loss account
7,665
10,397
--------
--------
SHAREHOLDERS FUNDS
11,214
13,946
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
Mr T P Bailey
Director
Company registration number: 11555338
ONE RETAIL DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 January 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 2 Britannia House, Suite D&E, Penny Lane, Cowbridge, Vale of Glamorgan, CF71 7EG, Wales.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on the going concern basis. The accounts show that the company had net liabilities of £(11,214) at the balance sheet date. The directors have therefore had to consider the appropriateness of the going concern basis. The company has been able to finance its operations largely because of the support from the directors and shareholders. The directors and shareholders have agreed to support the company for at least the next twelve months and, with this continuing support, the company will be able to meet its liabilities as they fall due. On the basis of the above, the directors consider it appropriate to prepare the accounts on a going concern basis.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. DEBTORS
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
18,845
35,286
Other debtors
22,336
21,475
--------
--------
41,181
56,761
--------
--------
5. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,020
10,012
Trade creditors
66
Other creditors
2,550
5,650
--------
--------
12,570
15,728
--------
--------
6. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
17,397
28,367
--------
--------
7. RELATED PARTY TRANSACTIONS
The company has taken advantage of the exemption provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions between wholly owned members of the same group.
8. CONTROLLING PARTY
In the opinion of the directors, the company's ultimate parent company is VCD Asset Management Limited, a company registered in England & Wales, by virtue of its 100% shareholding.