Company Registration No. 11346557 (England and Wales)
Dfh Property Developments Limited
Unaudited accounts
for the year ended 31 May 2023
Dfh Property Developments Limited
Unaudited accounts
Contents
Dfh Property Developments Limited
Statement of financial position
as at 31 May 2023
Inventories
754,625
324,560
Cash at bank and in hand
31,791
149,347
Creditors: amounts falling due within one year
(831,364)
(483,411)
Net current liabilities
(44,049)
(8,172)
Total assets less current liabilities
(43,984)
(7,979)
Provisions for liabilities
Net liabilities
(43,996)
(8,016)
Called up share capital
100
100
Profit and loss account
(44,096)
(8,116)
Shareholders' funds
(43,996)
(8,016)
For the 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. 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by
Mr Steven Hall
Director
Company Registration No. 11346557
Dfh Property Developments Limited
Notes to the Accounts
for the year ended 31 May 2023
Dfh Property Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 11346557. The registered office is 18 Bladon Crescent, Alsager, Stoke-on-Trent, Staffordshire, ST7 2BG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that 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, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors, and former director Mr I J Donaldson, have confirmed that they will continue to provide financial support to the company by way of the non-recalling of their loans to it, in order to enable it to finance its trading and other obligations for the foreseeable future.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line basis
Fixtures & fittings
25% straight line basis
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Dfh Property Developments Limited
Notes to the Accounts
for the year ended 31 May 2023
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2022
520
511
1,031
At 31 May 2023
520
511
1,031
At 1 June 2022
520
318
838
Charge for the year
-
128
128
At 31 May 2023
520
446
966
Amounts falling due within one year
Accrued income and prepayments
814
1,332
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
(8,468)
2,296
Loans from directors
836,257
476,518
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Transactions with related parties
Mr S Hall and Mr G D Ashton are related parties by virtue of their directorships of and shareholdings in the company during the year.
Mr I J Donaldson was a related party by virtue of his directorship in the company during the year.
During the year, Mr S Hall and Mr G D Ashton operated director's loan accounts with the company such that, at the year end, Mr S Hall was owed the sum of £51,206 (2022: £48,774) and Mr G D Ashton was owed the sum of £28,094 (2022: £28,344).
Mr I J Donaldson resigned as director on 31/12/2022, but continued to support the company by way of a loan. At the year end, he was owed the sum of £756,957 (2022: £399,400).
These loans were interest free and repayable on demand.
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Average number of employees
During the year the average number of employees was 2 (2022: 3).