Dunveth Development Company Limited Filleted Accounts Cover
Dunveth Development Company Limited
Company No. 03659272
Information for Filing with The Registrar
31 March 2023
Dunveth Development Company Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 March 2023.
Principal activities
The principal activity of the company during the year under review was development of land for rental or resale.
Directors
The Directors who served at any time during the year were as follows:
M.J. Vernon
P.A. Vernon
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
M.J. Vernon
Director
16 October 2023
Dunveth Development Company Limited Balance Sheet Registrar
at
31 March 2023
Company No.
03659272
Notes
2023
2022
£
£
Current assets
Stocks
4
432,212432,212
Debtors
5
6,000-
Cash at bank and in hand
37,37728,701
475,589460,913
Creditors: Amount falling due within one year
6
(7,413)
(5,608)
Net current assets
468,176455,305
Total assets less current liabilities
468,176455,305
Net assets
468,176455,305
Capital and reserves
Called up share capital
55
Profit and loss account
7
468,171455,300
Total equity
468,176455,305
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 16 October 2023
And signed on its behalf by:
P.A. Vernon
Director
16 October 2023
Dunveth Development Company Limited Notes to the Accounts Registrar
for the year ended 31 March 2023
1
General information
Its registered number is: 03659272
Its registered office is:
The Mill House
Lower Trevigo
St Minver
WADEBRIDGE
PL27 6RB
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting
Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year. All other policies have been consistently applied within the same accounts.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past
periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any
impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank
loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at
amortised cost using the effective interest method.
Lease income
Income from annual operating leases is recognised on a straight line basis over the life of the lease and included in other operating income
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive
obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company
becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the
expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Stocks
2023
2022
£
£
Work in progress
432,212432,212
432,212432,212
5
Debtors
2023
2022
£
£
Trade debtors
6,000-
6,000-
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Taxes and social security
3,660
1,931
Loans from directors
1,7371,737
Other creditors
1,1971,197
Accruals and deferred income
819743
7,4135,608
7
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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