| REGISTERED NUMBER: |
| Audited Financial Statements for the Period 20 July 2022 to 31 December 2023 |
| for |
| Selsdon Way Development Ltd |
| REGISTERED NUMBER: |
| Audited Financial Statements for the Period 20 July 2022 to 31 December 2023 |
| for |
| Selsdon Way Development Ltd |
| Selsdon Way Development Ltd (Registered number: 14245336) |
| Contents of the Financial Statements |
| for the Period 20 July 2022 to 31 December 2023 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 | to | 5 |
| Selsdon Way Development Ltd |
| Company Information |
| for the Period 20 July 2022 to 31 December 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants |
| & Statutory Auditors |
| 1 Beauchamp Court |
| 10 Victors Way |
| Barnet |
| Hertfordshire |
| EN5 5TZ |
| Selsdon Way Development Ltd (Registered number: 14245336) |
| Statement of Financial Position |
| 31 December 2023 |
| Notes | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Selsdon Way Development Ltd (Registered number: 14245336) |
| Notes to the Financial Statements |
| for the Period 20 July 2022 to 31 December 2023 |
| 1. | STATUTORY INFORMATION |
| Selsdon Way Development Ltd is a |
| 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 as modified by the revaluation of certain assets. |
| The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Selsdon Way Development Ltd (Registered number: 14245336) |
| Notes to the Financial Statements - continued |
| for the Period 20 July 2022 to 31 December 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Cash and cash equivalents |
| Cash and cash equivalents comprises cash on hand and all deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to and insignificant risk of change in value. |
| Trade debtors |
| Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables |
| Trade creditors |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities of the company does not have an unconditional right at the end of the reporting period to refer settlements of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlements for at least twelve months after the reporting date they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method |
| Going concern |
| The company's activities generated a loss of £2,939,827 and has a net liability of £2,939,825. The company's operational existence is still dependent on the ability to raise further funding from its parent company and other group members. |
| After making due enquires, the directors have formed a judgement that there is a reasonable expectation that the company can secure further adequate resources to continue in operational existence for the foreseeable future and that adequate arrangements will be in place to enable the settlement of their financial commitments, as and when they fall due. |
| For this reason, the directors continue to adopt the going concern basis in preparing the financial statements. Whilst there are inherent uncertainties in relation to future events, and therefore no certainty over the outcome of the matters described, the directors consider that, based upon the financial projections and dependent upon the success of their efforts to complete these activities, the company will be a going concern for the next twelve months. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| Selsdon Way Development Ltd (Registered number: 14245336) |
| Notes to the Financial Statements - continued |
| for the Period 20 July 2022 to 31 December 2023 |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| Additions |
| At 31 December 2023 |
| NET BOOK VALUE |
| At 31 December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 8. | RELATED PARTY DISCLOSURES |
| Included within 'Amounts Owed by Group Undertakings' is an amount of £10,530,451.39 due to J V Tower Ltd, a company under common control. |
| 9. | CHARGES |
| During the year the company had granted charges in favour of Zorin Avenue Lendco 5 Limited over its fixed and floating assets covering all property and undertaking. |
| 10. | CONTROLLING PARTY |
| The immediate parent undertaking of the company is Gold Wynn UK Holdings Limited, whose registered |
| office is at S223 - S224 Churchill House 120 Bunns Lane, London, United Kingdom, NW7 2AS. |
| The ultimate controlling party is Jeffrey Weinzweig |