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Company Registration No. NI676356 (Northern Ireland)
Shrogg Developments Limited Unaudited accounts for the year ended 29 February 2024
Shrogg Developments Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,854 
887 
Current assets
Inventories
4,250 
297,531 
Debtors
179 
- 
Cash at bank and in hand
255,858 
5,570 
260,287 
303,101 
Creditors: amounts falling due within one year
(265,662)
(302,624)
Net current (liabilities)/assets
(5,375)
477 
Net assets
3,479 
1,364 
Capital and reserves
Called up share capital
20,100 
20,100 
Profit and loss account
(16,621)
(18,736)
Shareholders' funds
3,479 
1,364 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 November 2024 and were signed on its behalf by
Benjamin Woods Director Company Registration No. NI676356
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Shrogg Developments Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Shrogg Developments Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI676356. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road, Belfast, Country Antrim, BT3 9DE, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from development property is recognised in the period in which the property is sold in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Motor vehicles
20% Straight Line
Going concern
The director believes that the company Shrogg Developments Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Shrogg Developments Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
1,437 
- 
1,437 
Additions
2,517 
7,200 
9,717 
At 29 February 2024
3,954 
7,200 
11,154 
Depreciation
At 1 March 2023
550 
- 
550 
Charge for the year
790 
960 
1,750 
At 29 February 2024
1,340 
960 
2,300 
Net book value
At 29 February 2024
2,614 
6,240 
8,854 
At 28 February 2023
887 
- 
887 
5
Inventories
2024 
2023 
£ 
£ 
Work in progress
4,250 
- 
Finished goods
- 
297,531 
4,250 
297,531 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
179 
- 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
- 
346 
Other creditors
139,155 
149,225 
Loans from directors
124,448 
151,053 
Accruals
2,059 
2,000 
265,662 
302,624 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
20,000 Preference Shares of £1 each
20,000 
20,000 
20,100 
20,100 
- 4 -
Shrogg Developments Limited Notes to the Accounts for the year ended 29 February 2024
9
Post balance sheet events
Shrogg Developments purchased a site in March 2024 for £215,000. The site is to be refurbished and sold as multiple residential dwellings.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
- 5 -