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REGISTERED NUMBER: 04911358 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

DUDRICH (DEVELOPMENTS) LIMITED

DUDRICH (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 04911358)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DUDRICH (DEVELOPMENTS) LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2023







DIRECTORS: R I Dudding
J C Ancell





SECRETARY: J C Ancell





REGISTERED OFFICE: Lonsto House
276 Chase Road
London
N14 6HA





REGISTERED NUMBER: 04911358 (England and Wales)





ACCOUNTANTS: SRG Newmans Limited
Five Ways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS

DUDRICH (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 04911358)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 29,502,753 28,800,556
Debtors 4 320,491 335,948
Cash at bank 18,060 57,352
29,841,304 29,193,856
CREDITORS
Amounts falling due within one year 5 12,675,714 13,035,485
NET CURRENT ASSETS 17,165,590 16,158,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,165,590

16,158,371

CREDITORS
Amounts falling due after more than one
year

6

3,755,874

4,045,266
NET ASSETS 13,409,716 12,113,105

CAPITAL AND RESERVES
Called up share capital 2 2
Share premium 2,172,103 2,172,103
Retained earnings 11,237,611 9,941,000
SHAREHOLDERS' FUNDS 13,409,716 12,113,105

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

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

The directors acknowledge their 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.

DUDRICH (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 04911358)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





R I Dudding - Director


DUDRICH (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 04911358)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

Dudrich (Developments) 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.

Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Lease premiums
Lease premiums are recognised in the income statement in the accounting period that is was received. The value of the leasehold increases in value when the lease premium is received.

DUDRICH (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 04911358)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise of a small group. The company has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2006 not to prepare group accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 252,117 318,538
Other debtors 68,374 17,410
320,491 335,948

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 477,582 370,314
Trade creditors 12,686 2,688
Amounts owed to group undertakings 11,026,055 11,572,796
Taxation and social security 282,882 247,330
Other creditors 876,509 842,357
12,675,714 13,035,485

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 3,755,874 4,045,266

DUDRICH (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 04911358)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,845,544 2,564,012

The bank loans are secured by a fixed charge over the assets of the company and personal guarantees made by Mr R I Dudding, a director of the company.

7. FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for according to the substance of the contractual arrangements entered into as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

8. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is R I Dudding by virtue of his controlling shareholding in Dudrich Developments (Holdings) Limited.