| Company Registration Number: |
| for the financial year ended |
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| Celebrity Developments Limited | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Company Registration Number: |
| STATEMENT OF FINANCIAL POSITION |
| as at |
| 2025 | 2024 | |||
| £ | £ | |||
| Creditors: amounts falling due within one year | (535,247) | (535,247) | ||
| ───────── | ───────── | |||
| Total Assets less Current Liabilities | (535,247) | (535,247) | ||
| ───────── | ───────── | |||
| Net Liabilities | ( |
( |
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| ═════════ | ═════════ | |||
| Capital and Reserves | ( |
( |
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| ═════════ | ═════════ | |||
| Notes to the Financial statements |
| 1. | General Information | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Celebrity Developments Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI034571. The registered office of the company is 30 Greyabbey Road, Newtownards, BT22 2NY, United Kingdom which is also the principal place of business of the company. The financial statements have been presented in Pound (£) which is also the functional currency of the company. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2. | Going concern | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The company's financial statements have been prepared on the going concern basis, which assumes that the company will continue to be able to meet its liabilities as they fall due for the foreseeable future. The company's reserves deficit relates to historic losses incurred as part of its property development trade. The company's bank appointed receivers in 2010 to assume ownership of the company's stock of land. Since then, the directors have not had any contact with the bank. Nevertheless, the directors remain open to examine all avenues which may allow the company to return to a satisfactory financial position. These circumstances represent a material uncertainty that casts significant doubt upon the company's ability to continue as a going concern. Nevertheless after making enquiries, and considering the uncertainties described above, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis in preparing the annual report and accounts and these financial statements do not include any adjustments that would result from the going concern basis of preparation being inappropriate. |
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| 3. | Employees | ||
| 2025 | 2024 | ||
| Number | Number | ||
| Director | |||
| ═════════ | ═════════ |
| 4. | Contingent liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
During the 2010 financial year the company's bank assumed its property stock as mortgagee in possession. The company's bank instructed that the company's property stock be sold and the sale proceeds presumably offset against the company's bank borrowings. In preparing the financial statements, the market value ascribed to the property by the bank's agents has been used as the stock's disposal value, which has then been offset against the bank borrowings. Stock has not been reflected in the company's statement of financial position and a residue of bank borrowings remains shown in the statement of of financial position. The directors have also not been supplied with exact details of any continuing liabilities accruing to the company's bank. Consequently, the exact scale of any liabilities owing to the bank may remain a function of any continued accrued interest on borrowings and of any sales proceeds of the mortgaged property stock, which will only be determined at a future date and which may be more, or less, than the figure as stated at the current statement of financial position date. As the directors have no no indication of any accrued interest, nor have they received any correspondence from the bank regarding the quantum of any remaining loans repayable or any other liabilities, no accrued interest amounts have been reflected in the statement of financial position as being due. |
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| The company has taken advantage of the exemption under section 444 not to file the Income Statement. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Approved by the Board on |
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| ________________________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Director | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||