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REGISTERED NUMBER: 09584484















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Common Development Limited

Common Development Limited (Registered number: 09584484)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Common Development Limited (Registered number: 09584484)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 52,442 59,019

Current assets
Debtors 5 60,514 128,175
Cash at bank 93,852 142,083
154,366 270,258
Creditors
Amounts falling due within one year 6 51,763 92,241
Net current assets 102,603 178,017
Total assets less current liabilities 155,045 237,036

Creditors
Amounts falling due after more than
one year

7

10,381

18,259
Net assets 144,664 218,777

Capital and reserves
Called up share capital 100 100
Retained earnings 144,564 218,677
Shareholders' funds 144,664 218,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Common Development Limited (Registered number: 09584484)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





S C Sanham - Director


Common Development Limited (Registered number: 09584484)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

Common Development Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address are as below:

Registered number: 09584484

Registered office: Pound House
62a Highgate High Street
London
N6 5HX

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.

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.
Motor vehicles - 10% on cost
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Common Development Limited (Registered number: 09584484)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued
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.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Tangible fixed assets
Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 April 2023 63,160 5,145 68,305
Additions - 274 274
At 31 March 2024 63,160 5,419 68,579
Depreciation
At 1 April 2023 6,316 2,970 9,286
Charge for year 6,316 535 6,851
At 31 March 2024 12,632 3,505 16,137
Net book value
At 31 March 2024 50,528 1,914 52,442
At 31 March 2023 56,844 2,175 59,019

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 20,400 120,855
Amounts owed by associates 24,822 5,729
Other debtors 14,591 813
Prepayments 701 778
60,514 128,175

Common Development Limited (Registered number: 09584484)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 7,878 7,512
Trade creditors 1,203 356
Corporation tax - 28,883
VAT 7,589 46,475
Other creditors 8,513 7,759
Directors' current accounts - 1,256
Accruals and deferred income 26,580 -
51,763 92,241

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 10,381 18,259

8. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
S C Sanham
Balance outstanding at start of year - 5,507
Amounts repaid - (5,507 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

9. Ultimate controlling party

The controlling party is Ruskin Group Ltd.

There is no ultimate controlling party.