REGISTERED NUMBER: 09522075 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Ambassador Developments (Park Quadrant)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Gaffney

REGISTERED OFFICE:

One Fleet Place

London

EC4M 7WS

REGISTERED NUMBER:

09522075 (England and Wales)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

CURRENT ASSETS

Stocks

-

372,374

Debtors

5

3,013

8,971

Cash at bank

125,528

969,203

128,541

1,350,548

CREDITORS

Amounts falling due within one year

6

(7,563,195

)

(8,259,499

)

NET CURRENT LIABILITIES

(7,434,654

)

(6,908,951

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,434,654

)

(6,908,951

)

CAPITAL AND RESERVES

Called up share capital

8

20

20

Share premium

96

96

Retained earnings

(7,434,770

)

(6,909,067

)

SHAREHOLDERS' FUNDS

(7,434,654

)

(6,908,951

)

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 director acknowledges his 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 director and authorised for issue on 1 May 2026 and were signed by:

D Gaffney - Director

1.	STATUTORY INFORMATION

Ambassador Developments (Park Quadrant) 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

50% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing 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.

Going concern

The directors prepared projections for the life of the development which completed in December 2023. The main contractor for the development is a related party who ensures that contractors comply with the current government guidance.

The entity's loan funding partner is kept regularly up to date on the progress of the project and has confirmed its continued support of the entity, to allow it to meet its liabilities as they fall due. There are ongoing discussions in regard to final settlement of loan amounts due, projected to be later in 2025. Following the settlement of liabilities but within 12 months of the date of approving the financial statements, the directors intend to liquidate the company.

As the directors intend to liquidate the company, they therefore do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern. No adjustments are required to the financial statements as a result of them being prepared on a basis other than that of a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

131,496

Disposals

(131,496

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

131,496

Eliminated on disposal

(131,496

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

3,013

8,971

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

18,184

29,940

Amounts owed to group undertakings

-

28,433

Other creditors

7,545,011

8,201,126

7,563,195

8,259,499

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Other loans

7,521,541

8,078,626

RS Luxembourg Li SARL hold fixed and floating charges over the company's assets in respect of this loan.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

6

Ordinary A shares

1

6

6

4

Ordinary B shares

1

4

4

10

Ordinary C shares

1

10

10

20

20