Silverfin false 31/03/2023 01/04/2022 31/03/2023 Ruth Maria Demenis 23/02/2020 07 November 2023 The principal activity of the Company during the financial year was property management. 07165471 2023-03-31 07165471 bus:Director1 2023-03-31 07165471 core:CurrentFinancialInstruments 2023-03-31 07165471 core:CurrentFinancialInstruments 2022-03-31 07165471 2022-03-31 07165471 core:ShareCapital 2023-03-31 07165471 core:ShareCapital 2022-03-31 07165471 core:RetainedEarningsAccumulatedLosses 2023-03-31 07165471 core:RetainedEarningsAccumulatedLosses 2022-03-31 07165471 bus:OrdinaryShareClass1 2023-03-31 07165471 2022-04-01 2023-03-31 07165471 bus:FullAccounts 2022-04-01 2023-03-31 07165471 bus:SmallEntities 2022-04-01 2023-03-31 07165471 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07165471 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07165471 bus:Director1 2022-04-01 2023-03-31 07165471 2021-04-01 2022-03-31 07165471 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07165471 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07165471 (England and Wales)

DEMCHEY LTD

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

DEMCHEY LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

DEMCHEY LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
DEMCHEY LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
2023 2022
£ £
Current assets
Debtors 3 258,714 258,863
Cash at bank and in hand 40,044 42,418
298,758 301,281
Creditors: amounts falling due within one year 4 ( 2,299) ( 1,887)
Net current assets 296,459 299,394
Total assets less current liabilities 296,459 299,394
Net assets 296,459 299,394
Capital and reserves
Called-up share capital 5 1 1
Profit and loss account 296,458 299,393
Total shareholder's funds 296,459 299,394

For the financial year ending 31 March 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 Demchey Ltd (registered number: 07165471) were approved and authorised for issue by the Director on 07 November 2023. They were signed on its behalf by:

Ruth Maria Demenis
Director
DEMCHEY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
DEMCHEY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Demchey Ltd (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 registered number of the Company is 07165471. The address of the Company's registered office is The Holt, Lower Aisholt, Bridgwater, Somerset, TA5 1AS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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.

The functional currency of Demchey Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The director has assessed the Statement of Financial Position 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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

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

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

2023 2022
£ £
Other debtors 258,714 258,863

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to director 624 312
Accruals 1,675 1,575
2,299 1,887

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

6. Related party transactions

During the year the director maintained a current account with the company. At the year end, the company owed the director £626 (2022: £312). No interest was charged on this loan and there are no set repayment terms.