ACCOUNTS - Final Accounts preparation

Company Registration Number: 06841568

KIRKCROSS DEVELOPMENTS LIMITED

FINANCIAL STATEMENTS

31 MARCH 2025

KIRKCROSS DEVELOPMENTS LIMITED

REGISTERED NUMBER: 06841568

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		31 March 2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	97,454		85,800
Cash at bank and in hand		8		11,529
		97,462		97,329
Creditors: amounts falling due within one year	5	(65,602)		(96,843)
Net current assets			31,860		486
Total assets less current liabilities			31,860		486

Net assets			31,860		486

Capital and reserves
Called up share capital	400	400
Profit and loss account	31,460	86
	31,860	486

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 8 December 2025.

N J Gordon

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

KIRKCROSS DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Kirkcross Developments Limited is a private company limited by shares, registered in England and Wales. The principal activity of the company is that of a housing developer. The address of the registered office is Agricola House 5 Cowper Road, Gilwilly Industrial Estate, Penrith, Cumbria, England, CA11 9BN.

The current period is for the 12 months to 31 March 2025, the comparative period is for the 11 months up to 31 March 2024.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

2.2

Going concern

Management and the Directors have considered a period of at least twelve months from the date of sign off when making their assessment with regards to going concern. After consideration of all factors, the Directors have continued to adopt the going concern basis in preparing the financial statements on the basis that the intercompany debtor within these financial statements is fully recoverable, there are no future committed costs, and management are yet to make a decision on the future use of the company following completion of the development.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

KIRKCROSS DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.

2.5

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.

2.6

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.

2.7

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.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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KIRKCROSS DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

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 profit or loss.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

Debtors

					2025	2024
					£	£


Amounts owed by group undertakings	97,363	85,800
Deferred taxation	91	-
	97,454	85,800

5.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	61,435	61,435
Corporation tax	-	31,241
Other creditors	4,167	4,167
	65,602	96,843

Page 4

KIRKCROSS DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Deferred taxation

		2025
		£

	Charged to profit or loss	91
	At end of year	91

The deferred tax asset is made up as follows:
	2025	2024
	£	£

	Tax losses carried forward	91	-
		91	-

7.	Controlling party

At 31 March 2025 the company was under the control of Genesis Homes (North) Limited.

The ultimate parent undertaking and the only group to consolidate these financial statements is Genesis Homes Group Limited. Copies of Genesis Homes Group Limited consolidated financial statements can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

The ultimate controlling party is N J Gordon, by virtue of his majority shareholding in the ultimate parent undertaking, Genesis Homes Group Limited.

8.	Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 9 December 2025 by Simon Turner (Senior statutory auditor) on behalf of Armstrong Watson Audit Limited.

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