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COMPANY REGISTRATION NUMBER: 10019359
Dellfield Developments Limited
Filleted Unaudited Financial Statements
31 March 2023
Dellfield Developments Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Investment property
5
635,000
635,000
Current assets
Debtors
6
816
Cash at bank and in hand
30,175
55,263
--------
--------
30,991
55,263
Creditors: amounts falling due within one year
7
107,840
119,543
---------
---------
Net current liabilities
76,849
64,280
---------
---------
Total assets less current liabilities
558,151
570,720
Creditors: amounts falling due after more than one year
8
303,300
333,300
Provisions
Taxation including deferred tax
19,840
19,840
---------
---------
Net assets
235,011
217,580
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
235,009
217,578
---------
---------
Shareholders funds
235,011
217,580
---------
---------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dellfield Developments Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 30 June 2023 , and are signed on behalf of the board by:
Mr D A Woodhead
Director
Company registration number: 10019359
Dellfield Developments Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Agincourt Villas, Uxbridge Road, Hillingdon, Middlesex, UB10 0NX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 3 (2022: Nil).
5. Investment property
Land and buildings
£
Cost
At 1 April 2022 and 31 March 2023
635,000
---------
Depreciation
At 1 April 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
635,000
---------
At 31 March 2022
635,000
---------
Included within the above is investment property as follows:
£
---------
At 1 April 2022 and 31 March 2023
635,000
---------
The property was revalued by the director at the year end and is considered by them to be reflective of the fair value at the balance sheet date.
6. Debtors
2023
2022
£
£
Other debtors
816
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
4,089
94
Other creditors
103,751
119,449
---------
---------
107,840
119,543
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
303,300
333,300
---------
---------
9. Non-distributable reserves
Included within profit and loss account is non-distributable reserves for the sum of £92,638 (2022: £92,638)
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr D A Woodhead
( 177,620)
22,924
( 154,696)
Mrs P M Woodhead
( 177,621)
22,924
( 154,697)
---------
--------
---------
( 355,241)
45,848
( 309,393)
---------
--------
---------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr D A Woodhead
( 175,445)
( 2,176)
(177,621)
Mrs P M Woodhead
( 175,444)
( 2,176)
(177,620)
---------
-------
---------
( 350,889)
( 4,352)
( 355,241)
---------
-------
---------
11. Related party transactions
The company was under the control of the directors. At the balance sheet date other creditors include an interest free loan of £303,300 (£333,300 -2022) from Mr D A Woodhead and Mrs P M Woodhead . The loan was taken to finance the purchase of the investment properties. It will become payable at the sale of the investment property or when the company can afford to repay it. The company Davanwood Limited was under the control of the directors. No trading transaction took place with the company during the year. At the balance sheet date other creditors include £95,000.00 (£95,000 - 2022) amounts owed to Davanwood Limited.