Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302023-10-01false1buying and selling of real estate.1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09758861 2023-10-01 2024-09-30 09758861 2022-10-01 2023-09-30 09758861 2024-09-30 09758861 2023-09-30 09758861 c:Director1 2023-10-01 2024-09-30 09758861 d:FreeholdInvestmentProperty 2023-10-01 2024-09-30 09758861 d:FreeholdInvestmentProperty 2024-09-30 09758861 d:FreeholdInvestmentProperty 2023-09-30 09758861 d:FreeholdInvestmentProperty 2 2023-10-01 2024-09-30 09758861 d:CurrentFinancialInstruments 2024-09-30 09758861 d:CurrentFinancialInstruments 2023-09-30 09758861 d:Non-currentFinancialInstruments 2024-09-30 09758861 d:Non-currentFinancialInstruments 2023-09-30 09758861 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 09758861 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 09758861 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 09758861 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 09758861 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-09-30 09758861 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 09758861 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 09758861 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 09758861 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-09-30 09758861 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-09-30 09758861 d:ShareCapital 2024-09-30 09758861 d:ShareCapital 2023-09-30 09758861 d:RevaluationReserve 2024-09-30 09758861 d:RevaluationReserve 2023-09-30 09758861 d:OtherMiscellaneousReserve 2024-09-30 09758861 d:OtherMiscellaneousReserve 2023-09-30 09758861 d:RetainedEarningsAccumulatedLosses 2024-09-30 09758861 d:RetainedEarningsAccumulatedLosses 2023-09-30 09758861 d:TaxLossesCarry-forwardsDeferredTax 2024-09-30 09758861 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 09758861 c:OrdinaryShareClass1 2023-10-01 2024-09-30 09758861 c:OrdinaryShareClass1 2024-09-30 09758861 c:FRS102 2023-10-01 2024-09-30 09758861 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 09758861 c:FullAccounts 2023-10-01 2024-09-30 09758861 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09758861 2 2023-10-01 2024-09-30 09758861 f:PoundSterling 2023-10-01 2024-09-30 09758861 d:EntityControlledByKeyManagementPersonnel1 2023-10-01 2024-09-30 09758861 d:EntityControlledByKeyManagementPersonnel1 2024-09-30 09758861 d:EntityControlledByKeyManagementPersonnel2 2023-10-01 2024-09-30 09758861 d:EntityControlledByKeyManagementPersonnel2 2024-09-30 09758861 d:EntityControlledByKeyManagementPersonnel3 2023-10-01 2024-09-30 09758861 d:EntityControlledByKeyManagementPersonnel3 2024-09-30 09758861 d:EntityControlledByKeyManagementPersonnel4 2023-10-01 2024-09-30 09758861 d:EntityControlledByKeyManagementPersonnel4 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09758861









28 DEVELOPMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
28 DEVELOPMENTS LIMITED
REGISTERED NUMBER: 09758861

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
899,859
538,000

  
899,859
538,000

Current assets
  

Stocks
 5 
322,051
308,008

Debtors: amounts falling due within one year
 6 
4,062
2,806

Cash at bank and in hand
 7 
59,827
13,305

  
385,940
324,119

Creditors: amounts falling due within one year
 8 
(71,028)
(13,630)

Net current assets
  
 
 
314,912
 
 
310,489

Total assets less current liabilities
  
1,214,771
848,489

Creditors: amounts falling due after more than one year
 9 
(1,130,880)
(752,745)

Provisions for liabilities
  

Deferred tax
 11 
(22,946)
(12,946)

Net assets
  
60,945
82,798


Capital and reserves
  

Called up share capital 
 12 
1,000
1,000

Investment property reserve
  
68,838
38,838

Capital contribution
  
101,170
101,170

Profit and loss account
  
(110,063)
(58,210)

  
60,945
82,798


Page 1

 
28 DEVELOPMENTS LIMITED
REGISTERED NUMBER: 09758861
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers 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 director acknowledges his 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 27 June 2025.




I Seth
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
28 DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

28 Developments Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Suite 120, Unit 3 Woodward Buildings, 1 Victora Road, London, W3 6FA.
The company specialises in the buying and selling of real estate. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
28 DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the year in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the reporting date can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Page 4

 
28 DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.8

Investment property

Investment properties are properties held to earn rent and capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
28 DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to the Statement of comprehensive income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
538,000


Additions at cost
321,859


Surplus on revaluation
40,000



At 30 September 2024
899,859

The 2024 valuations were made by director, on an open market value for existing use basis.




Page 6

 
28 DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Stocks

2024
2023
£
£

Property stock
322,051
308,008

322,051
308,008



6.


Debtors

2024
2023
£
£


Trade debtors
2,633
501

Other debtors
1,429
2,305

4,062
2,806



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
59,827
13,305

59,827
13,305



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
185
-

Other creditors
57,243
30

Accruals and deferred income
3,600
3,600

71,028
13,630


Page 7

 
28 DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
770,370
353,745

Other creditors
360,510
399,000

1,130,880
752,745


Bank loans are secured by a legal charge and mortgage over the assets of the company.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
3,334
13,332

Amounts falling due after more than 5 years

Bank loans
757,036
330,413

780,370
363,745


Page 8

 
28 DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Deferred taxation




2024


£






At beginning of year
12,946


Charged to the Statement of comprehensive income
10,000



At end of year
22,946

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Potential capital gains tax
22,946
12,946

22,946
12,946


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 Ordinary shares of £1 each
1,000
1,000



13.


Related party transactions

At the year end the company owed £360,510 (2023 - £399,000) to companies in which the director has a beneficial interest.
 
At the year end the company was owed £Nil (2023 - £1,513) by a company in which the director has a beneficial interest.
 
At the year end the company was owed £1,000 (2023 - £Nil) by a company in which the director has a beneficial interest.
 
At the year end the company owed £21,243 (2023 - £30) to the director.

At the year end the company owed £36,000 (2023 - £Nil) to a close family member of the director.


14.


Controlling party

The ultimate controlling party is the director by virtue of his shareholding in the company.

 
Page 9