Derwent Property Developments Limited Filleted Accounts Cover
Derwent Property Developments Limited
Company No. 02967222
Information for Filing with The Registrar
31 January 2022
Derwent Property Developments Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 January 2022.
Principal activities
The principal activity of the company during the year under review was property development.
Directors
The Directors who served at any time during the year were as follows:
C. Smith
R. Smith
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
R. Smith
Director
01 September 2022
Derwent Property Developments Limited Balance Sheet Registrar
at
31 January 2022
Company No.
02967222
Notes
2022
2021
£
£
Fixed assets
Investment property
4
30,00030,000
30,00030,000
Current assets
Stocks
5
666,556641,193
Cash at bank and in hand
20,25843,739
686,814684,932
Creditors: Amount falling due within one year
6
(393,021)
(392,326)
Net current assets
293,793292,606
Total assets less current liabilities
323,793322,606
Net assets
323,793322,606
Capital and reserves
Called up share capital
100100
Profit and loss account
7
323,693322,506
Total equity
323,793322,606
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 January 2022 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 01 September 2022
And signed on its behalf by:
R. Smith
Director
01 September 2022
Derwent Property Developments Limited Notes to the Accounts Registrar
for the year ended 31 January 2022
1
General information
Its registered number is: 02967222
Its registered office is:
8 Oakley Gardens
Betchworth
Surrey
RH3 7AZ
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
3
Employees
2022
2021
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Investment property
Freehold Investment Property
£
Valuation
At 1 February 2021
30,000
At 31 January 2022
30,000
5
Stocks
2022
2021
£
£
Work in progress
666,556641,193
666,556641,193
6
Creditors:
amounts falling due within one year
2022
2021
£
£
Other taxes and social security
74624
Loans from directors
391,495390,250
Accruals and deferred income
1,4521,452
393,021392,326
7
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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