Deal Varney (Newbury) Limited 05908510 false 2022-09-01 2023-09-30 2023-09-30 The principal activity of the company is commercial property surveyors. Digita Accounts Production Advanced 6.30.9574.0 true true 05908510 2022-09-01 2023-09-30 05908510 2023-09-30 05908510 bus:OrdinaryShareClass1 2023-09-30 05908510 bus:Revised 2023-09-30 05908510 core:CurrentFinancialInstruments 2023-09-30 05908510 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 05908510 bus:SmallEntities 2022-09-01 2023-09-30 05908510 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-09-30 05908510 bus:FullAccounts 2022-09-01 2023-09-30 05908510 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-09-30 05908510 bus:RegisteredOffice 2022-09-01 2023-09-30 05908510 bus:CompanySecretaryDirector1 2022-09-01 2023-09-30 05908510 bus:Director2 2022-09-01 2023-09-30 05908510 bus:OrdinaryShareClass1 2022-09-01 2023-09-30 05908510 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-09-30 05908510 core:ComputerEquipment 2022-09-01 2023-09-30 05908510 core:PlantMachinery 2022-09-01 2023-09-30 05908510 countries:EnglandWales 2022-09-01 2023-09-30 05908510 2021-09-01 2022-08-31 05908510 2022-08-31 05908510 bus:OrdinaryShareClass1 2022-08-31 05908510 core:CurrentFinancialInstruments 2022-08-31 05908510 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05908510

Deal Varney (Newbury) Limited

Unaudited Filleted Financial Statements

for the Period from 1 September 2022 to 30 September 2023

 

Deal Varney (Newbury) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Deal Varney (Newbury) Limited

Company Information

Directors

Mr G A Copps

J Varney

Company secretary

Mr G A Copps

Registered office

St Luke's House
Oxford Square Oxford Street
Newbury
Berkshire
RG14 1JQ

Accountants

EJBC Chartered Accountants
2 Toomers Wharf
Canal Walk
Newbury
Berkshire
RG14 1DY

 

Deal Varney (Newbury) Limited

(Registration number: 05908510)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

393

670

Current assets

 

Stocks

-

15,000

Debtors

72,700

16,730

Cash at bank and in hand

 

626,757

757,291

 

699,457

789,021

Creditors: Amounts falling due within one year

(687,674)

(623,345)

Net current assets

 

11,783

165,676

Net assets

 

12,176

166,346

Capital and reserves

 

Called up share capital

3

200

200

Retained earnings

11,976

166,146

Shareholders' funds

 

12,176

166,346

For the financial period ending 30 September 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 period 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.

Approved and authorised by the Board on 20 October 2023 and signed on its behalf by:
 

.........................................
J Varney
Director

 

Deal Varney (Newbury) Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 September 2023

1

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

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

Computer equipment

25% on cost

Plant and machinery

25% on cost

 

Deal Varney (Newbury) Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 September 2023

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Deal Varney (Newbury) Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 September 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 6 (2022 - 6).

3

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.01 each

20,000

200

20,000

200