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COMPANY REGISTRATION NUMBER: NI063028
Colebrook Developments Limited
Filleted Unaudited Financial Statements
28 March 2024
Colebrook Developments Limited
Statement of Financial Position
28 March 2024
2024
2023
Note
£
£
£
Current assets
Stocks
242,721
242,721
Debtors
4
848
1,917
---------
---------
243,569
244,638
Creditors: amounts falling due within one year
5
262,254
285,907
---------
---------
Net current liabilities
18,685
41,269
--------
--------
Total assets less current liabilities
( 18,685)
( 41,269)
Creditors: amounts falling due after more than one year
6
14,867,678
14,867,678
-------------
-------------
Net liabilities
( 14,886,363)
( 14,908,947)
-------------
-------------
Capital and reserves
Called up share capital
7
1
1
Profit and loss account
( 14,886,364)
( 14,908,948)
-------------
-------------
Shareholder deficit
( 14,886,363)
( 14,908,947)
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Colebrook Developments Limited
Statement of Financial Position (continued)
28 March 2024
These financial statements were approved by the board of directors and authorised for issue on 13 March 2025 , and are signed on behalf of the board by:
Mr J McElroy
Director
Company registration number: NI063028
Colebrook Developments Limited
Notes to the Financial Statements
Year ended 28 March 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 1 Hampton Manor Drive, Hampton Park, Belfast, BT7 3EN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The directors have prepared the accounts on the going concern basis on the assumption that the shareholders will continue to provide financial support to the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stock consists of development property owned by the company at the year end. The properties are valued on the basis of direct costs incurred. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2024
2023
£
£
Trade debtors
847
1,916
Other debtors
1
1
----
-------
848
1,917
----
-------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
262,254
285,907
---------
---------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
14,867,678
14,867,678
-------------
-------------
Bank loans and overdrafts are secured by fixed and floating charges over the assets of the company and a letter of guarantee from the director
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
8. Related party transactions
The company was under the control of Mr J McElroy throughout the current and previous year. Mr J McElroy is the managing director and sole shareholder.