REGISTERED NUMBER: 11849698 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CORNELIUS DEVELOPMENTS LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr I Bouaru

Mr I Mereacre

REGISTERED OFFICE:

Unit 21 Dagenham Business Centre

123 Rainham Road North

Dagenham

RM10 7FD

REGISTERED NUMBER:

11849698 (England and Wales)

AUDITORS:

Raffingers LLP, Statutory Auditor

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

CURRENT ASSETS

Stocks

190,103

301,508

Debtors

1,263,720

2,471

Cash at bank and in hand

252

19,199

1,454,075

323,178

CREDITORS

Amounts falling due within one year

1,463,308

327,385

NET CURRENT LIABILITIES

(9,233

)

(4,207

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,233

)

(4,207

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(9,333

)

(4,307

)

(9,233

)

(4,207

)

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 December 2025 and were signed on its behalf by:

Mr I Mereacre - Director

1.	STATUTORY INFORMATION

Cornelius Developments Ltd 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.

Going concern

The directors have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The directors have made this assessment in respect to a period of one year from the date of approval of these accounts. The directors have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The company has a substantial balance outstanding from fellow subsidiaries. However, the directors are of the opinion that the company will have sufficient resources to meet its liabilities as they fall due as the parent company, Cornelius H Group Limited, has indicated its willingness in writing to provide the necessary support to enable the entity to meet its liabilities as they fall due for a period of at least 12 months from the date of signature of these financial statements.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover represents rents receivable from tenants. Turnover is recognised in the profit and loss account in the period relates to.

Turnover is recognised based upon an internal assessment of the value of work carried out. This assessment is arrived at after due consideration of the performance against the programme of works, measurement of the works, evaluation of the costs incurred and comparison to external certification of the work performed.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

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 assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest.

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

3.	EMPLOYEES AND DIRECTORS

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

4.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mukesh Pandit (Senior Statutory Auditor)

for and on behalf of Raffingers LLP, Statutory Auditor

5.	CONTINGENT LIABILITIES

There were no contingent liabilities at either the beginning or end of the financial year.

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

7.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Cornelius H Group Limited, a company registered in the United Kingdom. Mr I Bouaru and Mr I Mereacre are directors and shareholders of Cornelius H Group Limited.