Silverfin false 31/05/2023 01/06/2022 31/05/2023 N Jones 02/05/2018 26 November 2023 The principal activity of the Company during the financial year was the development of building projects. 11340514 2023-05-31 11340514 bus:Director1 2023-05-31 11340514 2022-05-31 11340514 core:CurrentFinancialInstruments 2023-05-31 11340514 core:CurrentFinancialInstruments 2022-05-31 11340514 core:ShareCapital 2023-05-31 11340514 core:ShareCapital 2022-05-31 11340514 core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 11340514 core:FurtherSpecificReserve1ComponentTotalEquity 2022-05-31 11340514 core:RetainedEarningsAccumulatedLosses 2023-05-31 11340514 core:RetainedEarningsAccumulatedLosses 2022-05-31 11340514 2022-06-01 2023-05-31 11340514 bus:FullAccounts 2022-06-01 2023-05-31 11340514 bus:SmallEntities 2022-06-01 2023-05-31 11340514 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 11340514 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 11340514 bus:Director1 2022-06-01 2023-05-31 11340514 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure

Company No: 11340514 (England and Wales)

IDJ DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

IDJ DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

IDJ DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 May 2023
IDJ DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 31.05.2023 31.05.2022
£ £
Fixed assets
Investment property 3 75,000 75,000
75,000 75,000
Current assets
Debtors 4 65,210 63,087
Cash at bank and in hand 5 2,779 1,161
67,989 64,248
Creditors: amounts falling due within one year 6 ( 113,627) ( 111,046)
Net current liabilities (45,638) (46,798)
Total assets less current liabilities 29,362 28,202
Provision for liabilities 7 ( 4,688) ( 4,688)
Net assets 24,674 23,514
Capital and reserves
Called-up share capital 100 100
Fair value reserve 19,985 19,985
Profit and loss account 4,589 3,429
Total shareholders' funds 24,674 23,514

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of IDJ Developments Limited (registered number: 11340514) were approved and authorised for issue by the Director on 26 November 2023. They were signed on its behalf by:

N Jones
Director
IDJ DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
IDJ DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

IDJ Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hendford Manor , Hendford, Yeovil, Somerset, BA20 1UN, United Kingdom. The principal place of business is Prospect Place, Cattistock, Dorchester, Dorset, DT2 0JB.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

31.05.2023 31.05.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 June 2022 75,000
As at 31 May 2023 75,000

Valuation

The fair value of the company's investment property was revalued on 31 May 2023 by the director. The valuation was conducted at current open market value.

The deferred tax attributable to the investment property fair value adjustments has been considered at 31 May 2023 and has been presented within provisions for liabilities on the balance sheet. Movements in the provision are recognised in profit or loss and subsequently transferred to the fair value reserve.

There has been no valuation of investment property by an independent valuer.

4. Debtors

31.05.2023 31.05.2022
£ £
Trade debtors 0 2,125
Other debtors 65,210 60,962
65,210 63,087

5. Cash and cash equivalents

31.05.2023 31.05.2022
£ £
Cash at bank and in hand 2,779 1,161

6. Creditors: amounts falling due within one year

31.05.2023 31.05.2022
£ £
Trade creditors 492 0
Amounts owed to director 111,659 108,659
Accruals and deferred income 1,204 1,022
Taxation and social security 272 1,365
113,627 111,046

7. Provision for liabilities

31.05.2023 31.05.2022
£ £
Deferred tax 4,688 4,688