Registered number: 08145697
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Cressbrook Developments Ltd
Financial statements
Information for filing with the registrar
31 March 2024
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Cressbrook Developments Ltd
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Balance sheet
At 31 March 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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1
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Cressbrook Developments Ltd
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Balance sheet (continued)
At 31 March 2024
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 February 2025.
Womble Bond Dickinson (Trust Corporation) Limited
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Registered number: 08145697
The notes on pages 3 to 4 form part of these financial statements.
2
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Cressbrook Developments Ltd
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Notes to the financial statements
Year ended 31 March 2024
The company is a private company limited by shares, incorporated and domiciled in the United Kingdom. The registered office is The Spark, Draymans Way, Newcastle upon Tyne, NE4 5DE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
At the balance sheet date the company had excess liabilities over assets. Having made due and careful enquiry the directors are of the opinion that the company, with the support of its shareholders, has adequate working capital to execute its operations over the next 12 months and continue in operational existence for the foreseeable future. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.
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.
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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Amounts owed by related parties
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3
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Cressbrook Developments Ltd
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Notes to the financial statements
Year ended 31 March 2024
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Creditors: amounts falling due within one year
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Amounts owed to related parties
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Other creditors (incl directors loans)
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Related party transactions
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During the year, the company used a loan account to record amounts due to and from the directors. At the year end, the balance owed by the company to the directors was £4,487,023 (2023 - £4,498,365). This loan is unsecured, interest free and no fixed terms of repayment have been agreed.
During the year, the company used a loan account to record amounts due to and (from) associated companies. At the year end, the following balances were owed to/(from) the company. The loans are unsecured, and no fixed terms of repayment have been agreed. The loans are interest free with the exception of the loan to Bowers & Norman Ltd.
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JF Bowers Family Investments Ltd
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James Bowers Education Ltd
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4
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