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Registered Number: 06420858
England and Wales

 

 

 

DEVON PLACE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2020

End date: 30 November 2021
Director Rachael Gill-Randall
Registered Number 06420858
Registered Office Suite G2 The Business Centre
Cardiff House, Cardiff Road
Barry
Vale of Glamorgan
CF63 2AW
Secretary Andrew Randall
1
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Tangible fixed assets 4 115,790    79,988 
Investments 5 56,550    55,758 
172,340    135,746 
Current assets      
Stocks 6 6,890    9,892 
Debtors: amounts falling due within one year 7 29,624    17,969 
Debtors: amounts falling due after one year 8 325,256    166,036 
Cash at bank and in hand 42,016    17,244 
403,786    211,141 
Creditors: amount falling due within one year 9 (326,767)   (246,350)
Net current assets 77,019    (35,209)
 
Total assets less current liabilities 249,359    100,537 
Creditors: amount falling due after more than one year 10 (235,215)   (91,813)
Provisions for liabilities 11 (11,969)   (3,938)
Net assets 2,175    4,786 
 

Capital and reserves
     
Called up share capital 12 100    100 
Profit and loss account 2,075    4,686 
Shareholder's funds 2,175    4,786 
 


For the year ended 30 November 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The director has chosen to exercise the option in S444(1)(a) CA 2006 and file just the balance sheet.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small company's regime.
The financial statements were approved by the director on 16 August 2022 and were signed by:


--------------------------------
Rachael Gill-Randall
Director
2
General Information
Devon Place Limited is a private company, limited by shares, registered in England and Wales, registration number 06420858, registration address Suite G2 The Business Centre, Cardiff House, Cardiff Road, Barry, Vale of Glamorgan, CF63 2AW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 10% Reducing Balance
Motor Vehicles 25% Reducing Balance
Plant and Machinery 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 13 (2020 : 11).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2020 45,574    45,574 
Additions  
Disposals  
At 30 November 2021 45,574    45,574 
Amortisation
At 01 December 2020 45,574    45,574 
Charge for year  
On disposals  
At 30 November 2021 45,574    45,574 
Net book values
At 30 November 2021  
At 30 November 2020  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Improvements to property   Fixtures and Fittings   Motor Vehicles   Total
  £   £   £   £   £
At 01 December 2020 208,252      25,141    55,000    288,393 
Additions 37,063    22,362    9,839      69,264 
Disposals        
At 30 November 2021 245,315    22,362    34,980    55,000    357,657 
Depreciation
At 01 December 2020 183,314      15,341    9,750    208,405 
Charge for year 15,512    2,236    1,964    13,750    33,462 
On disposals        
At 30 November 2021 198,826    2,236    17,305    23,500    241,867 
Net book values
Closing balance as at 30 November 2021 46,489    20,126    17,675    31,500    115,790 
Opening balance as at 01 December 2020 24,938      9,800    45,250    79,988 

The net book value of Improvements to property includes £20,126 in respect of assets leased under finance leases or hire purchase contracts.

5.

Investments

Cost Loans to participating interests   Other investments other than loans   Total
  £   £   £
At 01 December 2020 24,258    31,500    55,758 
Additions 792      792 
Transfer to/from Tangible fixed assets    
Disposals    
At 30 November 2021 25,050    31,500    56,550 

6.

Stocks

2021
£
  2020
£
Stocks 6,890    9,892 
6,890    9,892 

7.

Debtors: amounts falling due within one year

2021
£
  2020
£
Trade Debtors 19,695    17,969 
Prepayments & Accrued Income 9,929   
29,624    17,969 

8.

Debtors: amounts falling due after one year

2021
£
  2020
£
Other Debtors 259,705    156,036 
Directors' Loan Accounts 65,551    10,000 
325,256    166,036 
Other Debtors
The company made a loan of £150,000 at the end of November 2018 to a property company Glenmore Systems Ltd charged at 3.75% - a commercial rate of interest - is contractually binding and will be reviewed annually.  Balance at 30th November 2021 was £241,450 (2020: £156,036).

9.

Creditors: amount falling due within one year

2021
£
  2020
£
Trade Creditors 43,225    56,672 
Bank Loans & Overdrafts 75,706   
Corporation Tax 39,628    34,500 
PAYE & Social Security 4,064    3,071 
Other Creditors 133,242    152,107 
Obligations under HP/Financial Leases 14,845   
Net Wages Control 16,057   
326,767    246,350 

10.

Creditors: amount falling due after more than one year

2021
£
  2020
£
Bank Loans & Overdrafts 197,443   
Obligations Under HP/Financial Leases 37,772    91,813 
235,215    91,813 

11.

Provisions for liabilities

2021
£
  2020
£
Deferred Tax 11,083    3,938 
Pension Provisions 886   
11,969    3,938 

12.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2021
£
  2020
£
100 Class A shares of £1.00 each 100    100 
100    100 

13.

Ultimate Controlling Party

The ultimate controlling party is Dr Rachael Gill-Randall
14.

Directors' Loan Account

At 30th November 2021, the director owed the Company £65,551 (2020: 10,000).
3