Company registration number 05640985 (England and Wales)
EMERGING DEVELOPMENT CORPORATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
EMERGING DEVELOPMENT CORPORATION LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
EMERGING DEVELOPMENT CORPORATION LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
€
€
€
€
Fixed assets
Investments
3
1
1
Current assets
-
-
Creditors: amounts falling due within one year
4
(1,199,999)
(1,201,857)
Net current liabilities
(1,199,999)
(1,201,857)
Net liabilities
(1,199,998)
(1,201,856)
Capital and reserves
Called up share capital
5
141
141
Profit and loss reserves
(1,200,139)
(1,201,997)
Total equity
(1,199,998)
(1,201,856)

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 August 2025 and are signed on its behalf by:
N J Cotton
R W Bourne-Arton
Director
Director
T S Morgan
Director
Company registration number 05640985 (England and Wales)
EMERGING DEVELOPMENT CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Emerging Development Corporation Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20-24 Park Street, Selby, YO8 4PW. The company registration number is 05640985.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in euros, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest €.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The directors reported in prior years that they had taken the decision to cease the company's activities and to regard the company as dormant for the time being. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors are satisfied that despite the company housing net liabilities that it is a going concern. This is on the basis that the creditors of the company all relate to amounts due to them personally or entities controlled by them.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

EMERGING DEVELOPMENT CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was nil:

2024
2023
Number
Number
Total
3
3
3
Fixed asset investments
2024
2023
€
€
Shares in group undertakings and participating interests
1
1
4
Creditors: amounts falling due within one year
2024
2023
€
€
Other creditors
1,199,999
1,201,857
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
€
€
Issued and fully paid
Ordinary shares of 10p each
990
990
141
141

The company has one class of ordinary share which carry no right to fixed income.

These shares were converted to Euros at the date of incorpration.

EMERGING DEVELOPMENT CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
6
Related party transactions

As at 31 December 2024 the company owed amounts to the directors as follows:

€258,167 (2023 - €258,047) was owed to N J Cotton.

€231,059 (2023 - €230,939) was owed to R W Bourne-Arton.

€81,404 (2023 - €81,284) was owed to T S Morgan.

The director T S Morgan is also a director and controlling shareholder in the company Emerging Real Estate Limited, a company registered and incorporated in England and Wales. The closing balance owed by the company to Emerging Real Estate Limited comprises a loan of €143,796 (2023 - €143,796) and an accrual in respect of sales of €485,146 (2023 - €485,146).

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