Detail Developments Limited 06166920 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is property rental Digita Accounts Production Advanced 6.30.9574.0 true 06166920 2022-04-01 2023-03-31 06166920 2023-03-31 06166920 core:CurrentFinancialInstruments 2023-03-31 06166920 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06166920 core:OfficeEquipment 2023-03-31 06166920 bus:SmallEntities 2022-04-01 2023-03-31 06166920 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06166920 bus:FullAccounts 2022-04-01 2023-03-31 06166920 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06166920 bus:RegisteredOffice 2022-04-01 2023-03-31 06166920 bus:Director1 2022-04-01 2023-03-31 06166920 bus:Director2 2022-04-01 2023-03-31 06166920 bus:Director3 2022-04-01 2023-03-31 06166920 bus:Director4 2022-04-01 2023-03-31 06166920 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06166920 core:OfficeEquipment 2022-04-01 2023-03-31 06166920 countries:EnglandWales 2022-04-01 2023-03-31 06166920 2022-03-31 06166920 core:OfficeEquipment 2022-03-31 06166920 2021-04-01 2022-03-31 06166920 2022-03-31 06166920 core:CurrentFinancialInstruments 2022-03-31 06166920 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 06166920

Detail Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Detail Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Detail Developments Limited

Company Information

Directors

Mr Jason Silcox

Mr Elliot Gould

Mrs Nicola Gould

Ms Charlotte Saffron Martindale

Registered office

Unit 21 Apex Court
Woodlands
Bradley Stoke
Bristol
BS32 4JT

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Detail Developments Limited

(Registration number: 06166920)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

         

Fixed assets

   

Investment property

5

 

600,000

600,000

Current assets

   

Debtors

6

1,412

 

509

Cash at bank and in hand

 

3,954

 

39,163

 

5,366

 

39,672

Creditors: Amounts falling due within one year

7

(346,705)

 

(345,578)

Net current liabilities

   

(341,339)

(305,906)

Total assets less current liabilities

   

258,661

294,094

Provisions for liabilities

 

(48,997)

(43,240)

Net assets

   

209,664

250,854

Capital and reserves

   

Called up share capital

100

 

100

Profit and loss account

209,564

 

250,754

Total equity

   

209,664

250,854

 

Detail Developments Limited

(Registration number: 06166920)
Balance Sheet as at 31 March 2023

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 7 November 2023 and signed on its behalf by:
 

.........................................

Mr Jason Silcox
Director

 

Detail Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 21 Apex Court
Woodlands
Bradley Stoke
Bristol
BS32 4JT

These financial statements were authorised for issue by the Board on 7 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Detail Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures,fittings and equipment

33% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Detail Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Tangible assets

Fixtures, fittings and equipment
£

Total
£

Cost or valuation

At 1 April 2022

1,471

1,471

At 31 March 2023

1,471

1,471

Depreciation

At 1 April 2022

1,471

1,471

At 31 March 2023

1,471

1,471

Carrying amount

At 31 March 2023

-

-

5

Investment properties

2023
£

At 1 April

600,000

Additions

12,600

Fair value adjustments

(12,600)

At 31 March

600,000

There has been no valuation of investment property by an independent valuer. The directors review the value of the investment properties each year and deem the value included to be fair.

 

Detail Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

2023
£

2022
£

Prepayments

1,412

509

1,412

509

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

191

-

Amounts owed to group undertakings

8

344,493

345,578

Accruals and deferred income

 

1,950

-

Other creditors

 

71

-

 

346,705

345,578

8

Related party transactions

The company was under the control of Mr J Silcox, Mr E Gould, Ms C Martindale and Mrs N Gould throughout the current year.

Property Solutions Management Group Limited is the parent company and owns 100% of the issued share capital. Property Solutions Management Group Limited is jointly and wholly owned by Mr J Silcox, Mr E Gould, Ms C Martindale and Mrs N Gould.

Property Solutions Management Group Limited is also the parent company of Ideal M & E Services and Gen X Limited.

Advantage has been taken of the exemption in FRS 102 to not disclose transactions with companies that are owned 100% by Property Solutions Management Group Limited.

No further transactions were undertaken which are required to be disclosed under FRS102.