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Registration number: 12887370

Cgd Developments Limited
Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Cgd Developments Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Cgd Developments Limited

Registration number: 12887370

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

19,078

25,437

Current assets

 

Stocks

6

285,376

245,457

Debtors

7

172,822

8,950

Cash at bank and in hand

 

62,064

8,763

 

520,262

263,170

Creditors: Amounts falling due within one year

8

(288,296)

(153,448)

Net current assets

 

231,966

109,722

Total assets less current liabilities

 

251,044

135,159

Creditors: Amounts falling due after more than one year

8

(16,022)

(20,484)

Provisions for liabilities

(6,422)

(6,359)

Net assets

 

228,600

108,316

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

228,599

108,315

Shareholders' funds

 

228,600

108,316



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Cgd Developments Limited

Registration number: 12887370

Balance Sheet as at 30 September 2024 (continued)

For the financial year ending 30 September 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 June 2025
 

C L Daly
Director

   
     

 

Cgd Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
25 Jutland Rise
Wymondham
Norfolk
NR18 0YR
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

 

Cgd Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Cgd Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Plant and Machinery

25% reducing balance

Motor Vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Cgd Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

6,359

8,480

 

Cgd Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

2,897

29,698

2,917

35,512

At 30 September 2024

2,897

29,698

2,917

35,512

Depreciation

At 1 October 2023

2,103

7,425

547

10,075

Charge for the year

381

5,568

410

6,359

At 30 September 2024

2,484

12,993

957

16,434

Carrying amount

At 30 September 2024

413

16,705

1,960

19,078

At 30 September 2023

794

22,273

2,370

25,437

6

Stocks

2024
£

2023
£

Work in progress

285,376

245,457

7

Debtors

 

Cgd Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

7

Debtors (continued)

Current

2024
£

2023
£

Trade debtors

151,983

-

Prepayments

3,790

3,384

Other debtors

17,049

5,566

 

172,822

8,950

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

46,832

9,741

Trade creditors

 

9,472

4,885

Directors loan account

135,197

89,407

Taxation and social security

 

47,259

-

Other creditors

 

49,536

49,415

 

288,296

153,448

Due after one year

 

Loans and borrowings

10

16,022

20,484

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

16,022

20,484

 

Cgd Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

HP and finance lease liabilities

16,022

20,484

2024
£

2023
£

Current loans and borrowings

HP and finance lease liabilities

4,462

9,741

Other borrowings

42,370

-

46,832

9,741

Other borrowings

The carrying amount of Loan at year end is £42,370 (2023 - £Nil).

Other borrowings are secured by a fixed charge over the work in progress