Company registration number 04326512 (England and Wales)
MORE LONDON DEVELOPMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MORE LONDON DEVELOPMENT LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
MORE LONDON DEVELOPMENT LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
2
500,001
500,001
Net current assets
500,001
500,001
Capital and reserves
Called up share capital
3
500,001
500,001
Total equity
500,001
500,001
The notes on pages 2 to 3 form part of these financial statements.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 28 November 2024 and are signed on its behalf by:
S Chrispin
Director
Company registration number 04326512 (England and Wales)
MORE LONDON DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
The company is a United Kingdom private limited company limted by shares and is incporated in England and Wales. The address of its registered office is 10 Norwich Street, London, EC4A, 1BD.
The financial statements are presented in Pounds Sterling (GBP), the Company's functional currency.
They comprise the financial statements of the Company for the year ended 31 March 2024 and are presented to the nearest pound.
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
Profit and loss account
The Company has not traded since 31 December 2004. Since then then the Company has received no income and incurred no expenditure and therefore no Income Statement is presented in these financial statements.
1.3
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of Comprehensive Income.
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount arid the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
2
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
500,001
500,001
MORE LONDON DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
of £1 each
500,001
500,001
4
Related party transactions
The company has taken exemption under FRS 102 Secrion 1AC.35 from disclosing transactions with group companies, on the grounds that each company party to the transactions is wholly owned within the group
5
Ultimate parent undertaking and controlling party
The immediate parent company is London Bridge Development Contractors Limited. The ultimate parent company is London Development Holdings Limited whose registered address is Ocean Centre, Montagu Foreshore, East Bay Street, Nassau, New Providence, The Bahamas. The ultimate holding party is a Bahamian Trust that is controlled by Cayside (PTC) Limited.