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REGISTERED NUMBER: 08067566 (England and Wales)














DEVIL 1 ENTERTAINMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






DEVIL 1 ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08067566)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


DEVIL 1 ENTERTAINMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr J J R Awesu





SECRETARY: Mr J J R Awesu





REGISTERED OFFICE: Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ





REGISTERED NUMBER: 08067566 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ

DEVIL 1 ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08067566)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 36,750 43,784
Investments 6 72,500 72,500
109,250 116,284

CURRENT ASSETS
Debtors 7 19,557 12,281
Cash at bank 49,026 125,656
68,583 137,937
CREDITORS
Amounts falling due within one year 8 143,463 201,898
NET CURRENT LIABILITIES (74,880 ) (63,961 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,370

52,323

CREDITORS
Amounts falling due after more than
one year

9

(35,010

)

(40,273

)

PROVISIONS FOR LIABILITIES (6,983 ) (8,319 )
NET (LIABILITIES)/ASSETS (7,623 ) 3,731

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (7,624 ) 3,730
SHAREHOLDERS' FUNDS (7,623 ) 3,731

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

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

The director acknowledges his 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.

DEVIL 1 ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08067566)

BALANCE SHEET - continued
31 MAY 2023


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 director and authorised for issue on 14 November 2023 and were signed by:





Mr J J R Awesu - Director


DEVIL 1 ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08067566)

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


1. STATUTORY INFORMATION

Devil 1 Entertainment 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.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

DEVIL 1 ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08067566)

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


2. ACCOUNTING POLICIES - continued

INVESTMENTS
Investments are shown in the accounts at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 5,000
AMORTISATION
At 1 June 2022
and 31 May 2023 5,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 7,524 48,400 13,896 69,820
Additions - 13,750 1,100 14,850
Disposals - (8,050 ) - (8,050 )
At 31 May 2023 7,524 54,100 14,996 76,620
DEPRECIATION
At 1 June 2022 2,484 12,100 11,452 26,036
Charge for year 1,260 11,455 1,844 14,559
Eliminated on disposal - (725 ) - (725 )
At 31 May 2023 3,744 22,830 13,296 39,870
NET BOOK VALUE
At 31 May 2023 3,780 31,270 1,700 36,750
At 31 May 2022 5,040 36,300 2,444 43,784

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Other 3,500 3,500
Additions 69,000 69,000
72,500 72,500

DEVIL 1 ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08067566)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 19,557 12,281

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,263 5,133
Trade creditors 128,391 193,408
Taxation and social security 7,749 2,032
Other creditors 2,060 1,325
143,463 201,898

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 35,010 40,273

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,593 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr J J R Awesu
Balance outstanding at start of year (125 ) 13,477
Amounts advanced 65,144 67,979
Amounts repaid (66,880 ) (81,581 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,861 ) (125 )