Company registration number 13674706 (England and Wales)
DEVON SQUARE DENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
DEVON SQUARE DENT LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
DEVON SQUARE DENT LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
1,200,495
Current assets
Debtors
5
35,940
100
Cash at bank and in hand
97,188
133,128
100
Creditors: amounts falling due within one year
6
(572,032)
Net current (liabilities)/assets
(438,904)
100
Total assets less current liabilities
761,591
100
Creditors: amounts falling due after more than one year
7
(761,491)
Net assets
100
100
Capital and reserves
-
-
Called up share capital
100
100
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 October 2023 and are signed on its behalf by:
Dr A Akram
Director
Company registration number 13674706 (England and Wales)
DEVON SQUARE DENT LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
Share capital
Notes
£
Balance at 12 October 2021
Period ended 31 March 2022:
Profit and total comprehensive income
-
Issue of share capital
100
Balance at 31 March 2022
100
Year ended 31 March 2023:
Profit and total comprehensive income
-
Balance at 31 March 2023
100
DEVON SQUARE DENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Devon Square Dent Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Michael House, Castle Street, Exeter, Devon, EX4 3LQ.
1.1
Reporting period
The period to 31 March 2022 represented a shorter period of financial statements and the results will not be directly comparable to other accounting periods.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Taxation
The tax on loss relates to receipts in respect of group relief of losses.
DEVON SQUARE DENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1,200,495
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2022
-
Additions
1,200,495
At 31 March 2023
1,200,495
Carrying amount
At 31 March 2023
1,200,495
At 31 March 2022
-
DEVON SQUARE DENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
23,759
Other debtors
12,181
100
35,940
100
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
71,042
Amounts owed to group undertakings
499,850
Other creditors
1,140
572,032
Included within bank loans is £71,042 (2022: £nil) which is a loan that is secured by way of a floating charge over the company and the other companies within the group.
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
761,491
Included within bank loans is £761,491 (2022: £nil) which is a loan that is secured by way of a floating charge over the company and the other companies within the group.
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
427,656
-