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Eddison Developments Limited

Registered Number
11486994
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Eddison Developments Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Gary Bond
Deborah Bond

Registered Address

Eddison House
Cross Lane
Marlborough
SN8 1LA

Registered Number

11486994 (England and Wales)
Eddison Developments Limited
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments32,518,0002,518,000
2,518,0002,518,000
Current assets
Debtors155,098169,089
Cash at bank and on hand173,82525,772
328,923194,861
Creditors amounts falling due within one year4(25,536)(11,791)
Net current assets (liabilities)303,387183,070
Total assets less current liabilities2,821,3872,701,070
Creditors amounts falling due after one year5(2,443,900)(2,443,900)
Net assets377,487257,170
Capital and reserves
Called up share capital100100
Profit and loss account377,387257,070
Shareholders' funds377,487257,170
The financial statements were approved and authorised for issue by the Board of Directors on 22 December 2024, and are signed on its behalf by:
Gary Bond
Director
Registered Company No. 11486994
Eddison Developments Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Interest income
Interest income is recognised using the effective interest rate method.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year00
3.Fixed asset investments
The investment relates to a joint venture in an LLP where the Company shares 50% of any gains/losses generated. The Company made a loan to said LLP in June 2020 with interest of 4% being payable. The loan is due for repayment in June 2025, and is secured by a first legal charge over investment property held by the LLP.

Investments in groups1

Loans to groups2

Total

£££
Cost or valuation
At 01 April 231,518,0001,000,0002,518,000
At 31 March 241,518,0001,000,0002,518,000
Net book value
At 31 March 241,518,0001,000,0002,518,000
At 31 March 231,518,0001,000,0002,518,000

Notes

1Investments in group undertakings and participating interests
2Loans to group undertakings and participating interests
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security24,03610,471
Accrued liabilities and deferred income1,5001,320
Total25,53611,791
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties2,443,9002,443,900
Total2,443,9002,443,900
6.Related party transactions
Income from participating interests relate to profits received by the Company from an LLP in which it is a member. The partnership agreement states that it shares the profits and losses with other members, with it's share being 50%. Any monies due from the LLP are unsecured and there is no interest payable. At the year end an amount of £155,098 (2023: £169,089) was receivable under this agreement. At the year end, the Company owed the Directors £2,443,900 (2023: £2,723,900). These monies had been advanced on an unsecured, interest free basis and are repayable after more than one year from the year end date.