Company Registration No. 04337640 (England and Wales)
Criterion Property Developments Limited
Unaudited accounts
for the year ended 31 July 2023
Criterion Property Developments Limited
Statement of financial position
as at 31 July 2023
Debtors
1,088,851
1,711,392
Cash at bank and in hand
323
294
Creditors: amounts falling due within one year
(945,932)
(1,417,563)
Net current assets
143,242
294,123
Total assets less current liabilities
143,242
294,123
Creditors: amounts falling due after more than one year
(70,000)
(813,000)
Net assets/(liabilities)
73,242
(518,877)
Called up share capital
100
100
Profit and loss account
73,142
(518,977)
Shareholders' funds
73,242
(518,877)
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 January 2024 and were signed on its behalf by
Patrick Heffron
Director
Company Registration No. 04337640
Criterion Property Developments Limited
Notes to the Accounts
for the year ended 31 July 2023
Criterion Property Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 04337640. The registered office is 14 Holywell Row, London, EC2A 4JB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The director believes that Criterion Property Developments Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of property development services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Amounts falling due within one year
Amounts due from group undertakings etc.
1,088,851
1,711,392
5
Creditors: amounts falling due within one year
2023
2022
Amounts owed to group undertakings and other participating interests
-
234,452
Loans from directors
945,137
1,175,391
6
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
70,000
813,000
Criterion Property Developments Limited
Notes to the Accounts
for the year ended 31 July 2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Transactions with related parties
Included within debtors are amounts due from connected companies amounting to £1,088,851 (2022: £1,711,392).
Included within creditors are amounts due to connected companies amounting to £Nil (2022: £234,452). All amounts are interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
