Registered number
13129900
DW Properties (South West) Ltd
Filleted Accounts
31 March 2023
DW Properties (South West) Ltd
Registered number: 13129900
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 14,327 962
Current assets
Debtors 4 605 -
Cash at bank and in hand 1,297 3,820
1,902 3,820
Creditors: amounts falling due within one year 5 (14,496) (4,551)
Net current liabilities (12,594) (731)
Total assets less current liabilities 1,733 231
Provisions for liabilities (438) (183)
Net assets 1,295 48
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,293 46
Shareholders' funds 1,295 48
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Stephen Deeley
Director
Approved by the board on 14 October 2023
DW Properties (South West) Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 1,433 - 1,433
Additions 1,233 16,434 17,667
Disposals (829) - (829)
At 31 March 2023 1,837 16,434 18,271
Depreciation
At 1 April 2022 471 - 471
Charge for the year 394 3,287 3,681
On disposals (208) - (208)
At 31 March 2023 657 3,287 3,944
Net book value
At 31 March 2023 1,180 13,147 14,327
At 31 March 2022 962 - 962
4 Debtors 2023 2022
£ £
Other debtors 605 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 229
Taxation and social security costs - 605
Other creditors 14,496 3,717
14,496 4,551
6 Basis of preparation
At the period end, the company’s balance sheet showed net current liabilities of £12,594 (2022: £731). This includes £13,715 (2022: £2,769) payable to Mr Stephen Deeley & Miss Teri Whittaker, directors. The directors have indicated that they will continue to support the company financially until such time that it can afford to repay them. On this basis, the directors feels it is appropriate that the accounts are prepared on a going concern basis.
7 Related party transactions
At the period end the company owed £13,715 (2022: £2,769) by Mr Stephen Deeley & Miss Teri Whittaker, directors. The loan is interest free and repayable in less than one year.
8 Controlling party
The company is ultimately controlled by Mr Stephen Deeley & Miss Teri Whittaker, directors, who own 100% of the issued share capital.
9 Other information
DW Properties (South West) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Tre-Ru House
The Leats
Truro
Cornwall
TR1 3AG
DW Properties (South West) Ltd 13129900 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 Stephen Deeley No description of principal activity 13129900 2021-04-01 2022-03-31 13129900 core:WithinOneYear 2022-03-31 13129900 core:ShareCapital 2022-03-31 13129900 core:RetainedEarningsAccumulatedLosses 2022-03-31 13129900 2022-04-01 2023-03-31 13129900 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13129900 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13129900 bus:Director40 2022-04-01 2023-03-31 13129900 1 2022-04-01 2023-03-31 13129900 2 2022-04-01 2023-03-31 13129900 core:PlantMachinery 2022-04-01 2023-03-31 13129900 core:Vehicles 2022-04-01 2023-03-31 13129900 countries:England 2022-04-01 2023-03-31 13129900 bus:FRS102 2022-04-01 2023-03-31 13129900 bus:FullAccounts 2022-04-01 2023-03-31 13129900 2023-03-31 13129900 core:WithinOneYear 2023-03-31 13129900 core:ShareCapital 2023-03-31 13129900 core:RetainedEarningsAccumulatedLosses 2023-03-31 13129900 core:PlantMachinery 2023-03-31 13129900 core:Vehicles 2023-03-31 13129900 2022-03-31 13129900 core:PlantMachinery 2022-03-31 13129900 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure