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REGISTERED NUMBER: 11877634 (England and Wales)




















Financial Statements

for the Year Ended 31 March 2024

for

CANDLERIGGS DEVELOPMENTS 2 LIMITED

CANDLERIGGS DEVELOPMENTS 2 LIMITED (REGISTERED NUMBER: 11877634)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CANDLERIGGS DEVELOPMENTS 2 LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G M Bone
U N Goldberg
S C Oag
M Stimler





REGISTERED OFFICE: First Floor, Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: 11877634 (England and Wales)





AUDITORS: Melinek Fine LLP
Chartered Accountants
Statutory Auditors
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

CANDLERIGGS DEVELOPMENTS 2 LIMITED (REGISTERED NUMBER: 11877634)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 700 700

CURRENT ASSETS
Stocks 5,893,444 5,808,305
Debtors 5 828,517 95,735
Cash at bank 97,529 251,740
6,819,490 6,155,780
CREDITORS
Amounts falling due within one year 6 9,009,749 9,003,632
NET CURRENT LIABILITIES (2,190,259 ) (2,847,852 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,189,559

)

(2,847,152

)

CAPITAL AND RESERVES
Called up share capital 900 900
Profit and loss account (2,190,459 ) (2,848,052 )
(2,189,559 ) (2,847,152 )

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





M Stimler - Director


CANDLERIGGS DEVELOPMENTS 2 LIMITED (REGISTERED NUMBER: 11877634)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Candleriggs Developments 2 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Preparation of consolidated financial statements
The financial statements contain information about Candleriggs Developments 2 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Candleriggs Holdings Limited, First Floor, Winston House, 349 Regents Park Road, London N3 1DH.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


CANDLERIGGS DEVELOPMENTS 2 LIMITED (REGISTERED NUMBER: 11877634)

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.

Going concern
The financial statements have been prepared on a going concern basis.

In making their assessment, the directors have considered the foreseeable future which is a period of at least 12 months from the date of signing of the financial statements.

In line with expectations the company has at the balance sheet date net current liabilities of £2,190,259 (2023 - £2,847,852) and negative reserves of £2,190,459 (2023 - £2,848,052).

The directors consider that there are no material uncertainties regarding the going concern status of the company because all projects are running in line with expectations and are expected to generate profits.

The company is part of a group that has the financial resources to support the company and has provided a letter of support to meet the company's future liabilities as they fall due. This is a statement of intent and not a legally binding arrangement.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 700
NET BOOK VALUE
At 31 March 2024 700
At 31 March 2023 700

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 90,000 90,000
Amounts owed by group undertakings 6,000 -
Other debtors 732,517 5,735
828,517 95,735

CANDLERIGGS DEVELOPMENTS 2 LIMITED (REGISTERED NUMBER: 11877634)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,123 -
Amounts owed to group undertakings 5,999,400 5,999,400
Other creditors 3,004,226 3,004,232
9,009,749 9,003,632

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aryeh Melinek (Senior Statutory Auditor)
for and on behalf of Melinek Fine LLP

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.