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REGISTERED NUMBER: 07115620 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

DAFFODIL DEVELOPMENTS LIMITED

DAFFODIL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07115620)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 5

DAFFODIL DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J Moss
P Taylor
M J E Woods





SECRETARY: S Corner





REGISTERED OFFICE: 180 Piccadilly
London
W1J 9HF





REGISTERED NUMBER: 07115620 (England and Wales)





ACCOUNTANTS: Buchanan & Associates Limited
Mayden House
Main Road
Long Bennington
Nottinghamshire
NG23 5DJ

DAFFODIL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07115620)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Stocks 5 236,087 -
Debtors 6 31,829 -
Cash at bank 129,126 596,197
397,042 596,197
CREDITORS
Amounts falling due within one year 7 37,641 322,908
NET CURRENT ASSETS 359,401 273,289
TOTAL ASSETS LESS CURRENT
LIABILITIES

359,401

273,289

CAPITAL AND RESERVES
Called up share capital 8 338,985 231,500
Share premium 19,347 -
Capital redemption reserve 90,916 90,916
Retained earnings (89,847 ) (49,127 )
SHAREHOLDERS' FUNDS 359,401 273,289

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





J Moss - Director


DAFFODIL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07115620)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Daffodil Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Stocks
Stock comprises work in progress on development properties owned by the company. Work in progress in respect of any development property in the course of construction is stated at the lower of cost and net realisable value. Cost comprises direct materials and payments to contractors, attributable interest and an appropriate proportion of overheads in respect of site supervision.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Profit recognition
Profit, if any, is recognised on developments on exchange of contracts having regard to work done and the foreseeable outcome of the contract. Guarantees and other warranties given are taken into account in assessing the profit or loss to be provided in respect of such contracts. On long term contract accounting, profits are recognised on a percentage completion basis over the life of the contract when a profitable outcome is considered likely. Any foreseen losses are recognised in full immediately.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

DAFFODIL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07115620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. STOCKS
31.3.23 31.3.22
£    £   
Development work-in-progress 236,087 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 31,829 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 31,641 499
Taxation and social security - 427
Other creditors 6,000 321,982
37,641 322,908

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
338,985 Ordinary £1 338,985 231,500

107,485 Ordinary shares of £1 each were allotted as fully paid at a premium of 18p per share during the year.

9. ULTIMATE CONTROLLING PARTY

The directors consider that at 31 March 2023, there was no ultimate controlling party

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DAFFODIL DEVELOPMENTS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Daffodil Developments Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Daffodil Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Daffodil Developments Limited and state those matters that we have agreed to state to the Board of Directors of Daffodil Developments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Daffodil Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Daffodil Developments Limited. You consider that Daffodil Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Daffodil Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Buchanan & Associates Limited
Mayden House
Main Road
Long Bennington
Nottinghamshire
NG23 5DJ


31 October 2023