REGISTERED NUMBER: 03167284 (England and Wales)

CORBALLY DEVELOPMENTS LIMITED

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Kelly

D N Kelly

Mrs S A O'Donnell

REGISTERED OFFICE:

The Mill

One High Street

Henley-in- Arden

Warwickshire

B95 5AA

REGISTERED NUMBER:

03167284 (England and Wales)

ACCOUNTANTS:

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Investment property

4

4,477,591

4,435,291

CURRENT ASSETS

Debtors

5

38,964

33,597

Cash at bank

139,724

54,158

178,688

87,755

CREDITORS

Amounts falling due within one year

6

3,414,753

3,488,308

NET CURRENT LIABILITIES

(3,236,065

)

(3,400,553

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,241,526

1,034,738

PROVISIONS FOR LIABILITIES

39,652

39,652

NET ASSETS

1,201,874

995,086

CAPITAL AND RESERVES

Called up share capital

7

3

3

Fair value reserve

8

193,597

193,597

Retained earnings

1,008,274

801,486

SHAREHOLDERS' FUNDS

1,201,874

995,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

P J Kelly - Director

1.	STATUTORY INFORMATION

Corbally Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

The directors consider the carrying value of each property to approximate market value.

Taxation

Taxation for the year 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

4,435,291

Additions

42,300

At 31 December 2024

4,477,591

NET BOOK VALUE

At 31 December 2024

4,477,591

At 31 December 2023

4,435,291

The investment property is valued by the directors at the year end at open market value.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

10,325

5,198

Other debtors

28,639

28,399

38,964

33,597

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

24,803

68,350

Taxation and social security

71,362

23,505

Other creditors

3,318,588

3,396,453

3,414,753

3,488,308

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

3

Ordinary

£1

3

3

8.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 December 2024

193,597

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.