Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.0Development of building projects2022-04-01truetrue 12430819 2022-04-01 2023-03-31 12430819 2021-04-01 2022-03-31 12430819 2023-03-31 12430819 2022-03-31 12430819 c:Director1 2022-04-01 2023-03-31 12430819 d:FreeholdInvestmentProperty 2022-04-01 2023-03-31 12430819 d:FreeholdInvestmentProperty 2023-03-31 12430819 d:FreeholdInvestmentProperty 2022-03-31 12430819 d:CurrentFinancialInstruments 2023-03-31 12430819 d:CurrentFinancialInstruments 2022-03-31 12430819 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12430819 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12430819 d:ShareCapital 2023-03-31 12430819 d:ShareCapital 2022-03-31 12430819 d:RetainedEarningsAccumulatedLosses 2023-03-31 12430819 d:RetainedEarningsAccumulatedLosses 2022-03-31 12430819 c:OrdinaryShareClass1 2022-04-01 2023-03-31 12430819 c:OrdinaryShareClass1 2023-03-31 12430819 c:OrdinaryShareClass1 2022-03-31 12430819 c:FRS102 2022-04-01 2023-03-31 12430819 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12430819 c:FullAccounts 2022-04-01 2023-03-31 12430819 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12430819










DEVONSHIRE PROPERTY (B2D) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
DEVONSHIRE PROPERTY (B2D) LIMITED
REGISTERED NUMBER: 12430819

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,386,771
646,047

Current assets
  

Debtors: amounts falling due within one year
 5 
227,788
19,053

Cash at bank and in hand
  
10,492
(4,576)

  
238,280
14,477

Creditors: amounts falling due within one year
 6 
(2,621,905)
(663,101)

Net current liabilities
  
 
 
(2,383,625)
 
 
(648,624)

  

Net assets/(liabilities)
  
3,146
(2,577)


Capital and reserves
  

Called up share capital 
 7 
10,003
3

Profit and loss account
  
(6,857)
(2,580)

  
3,146
(2,577)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 October 2023.




A C Lavery
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 1

 
DEVONSHIRE PROPERTY (B2D) LIMITED
REGISTERED NUMBER: 12430819
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


Page 2

 
DEVONSHIRE PROPERTY (B2D) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Devonshire Property (B2D) Limited is a private company limited by shares, incorporated in England and Wales (registered number: 12430819). Its' registered office is the Estate Office, Edensor, Bakewell, Derbyshire, DE45 1PJ. The principal activity of the Company throughout the year continued to be that of letting and operating real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the year end date, the Company had net current liabilities of £2,383,625 (2022: £648,624). The company will continue to receive support from related undertakings and on this basis the directors have prepared the financial statements on a going concern basis.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the internal property team in Chatsworth Settlement and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
DEVONSHIRE PROPERTY (B2D) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivable, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.6

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average number of employees during the year was 0 (2022- 0). The directors do not have employment contracts with the Company and are not paid for their role.

Page 4

 
DEVONSHIRE PROPERTY (B2D) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
646,047


Additions at cost
1,740,724



At 31 March 2023
2,386,771

The 2023 valuations were made by Chatsworth Settlement property team, on an open market value for existing use basis.







5.


Debtors

2023
2022
£
£


Amounts owed by related undertakings
10,003
-

Other debtors
217,785
19,053

227,788
19,053



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owing to group companies
2,437,398
-

Amounts owed to related undertakings
11,366
660,566

Accruals and deferred income
173,141
2,535

2,621,905
663,101


Page 5

 
DEVONSHIRE PROPERTY (B2D) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,003 (2022 - 3) Ordinary shares of £1.00 each
10,003
3


During the year, 10,000 £1 ordinary shares were issued at par.

 
Page 6