Registered number
08951350
Currie Developments Limited
Filleted Accounts
31 March 2023
Currie Developments Limited
Registered number: 08951350
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 276,540 276,540
Current assets
Cash at bank and in hand 1,701 2,870
Creditors: amounts falling due within one year 4 (96,727) (109,582)
Net current liabilities (95,026) (106,712)
Total assets less current liabilities 181,514 169,828
Provisions for liabilities (11,480) (11,480)
Net assets 170,034 158,348
Capital and reserves
Called up share capital 100 100
Profit and loss account 169,934 158,248
Shareholders' funds 170,034 158,348
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J A Currie
Director
Approved by the board on 1 November 2023
Currie Developments Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods, the rendering of services and the rental of investment properties. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. Turnover from rental income is recognised on a time basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Investment properties
Investment properties are carried at fair value, derived from the current market prices for comparable real estate, determined annually. 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 the profit and loss account but separately disclosed on the balance sheet if an increase, as any surplus is an undistributable reserve.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment properties Plant and machinery etc Total
£ £ £
Cost re valuation
At 1 April 2022 276,000 1,899 277,899
At 31 March 2023 276,000 1,899 277,899
Depreciation
At 1 April 2022 - 1,359 1,359
At 31 March 2023 - 1,359 1,359
Net book value
At 31 March 2023 276,000 540 276,540
At 31 March 2022 276,000 540 276,540
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 3,680 8,613
Other creditors 93,047 100,969
96,727 109,582
5 Distributable reserves
Included in reserves is an amount standing at £57,832 which is undistributable (2022 - £57,832)
6 Other information
Currie Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bears Lodge
Sandy Lane
Camberley
Surrey
GU15 2AG
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