Silverfin false 31/03/2023 01/04/2022 31/03/2023 P Halfpenny 01/11/2019 N Jenner 29/04/2023 07/12/2020 05 March 2024 The principal activity of the company during the financial year was development of building projects. 08610851 2023-03-31 08610851 bus:Director1 2023-03-31 08610851 bus:Director2 2023-03-31 08610851 2022-03-31 08610851 core:CurrentFinancialInstruments 2023-03-31 08610851 core:CurrentFinancialInstruments 2022-03-31 08610851 core:Non-currentFinancialInstruments 2023-03-31 08610851 core:Non-currentFinancialInstruments 2022-03-31 08610851 core:ShareCapital 2023-03-31 08610851 core:ShareCapital 2022-03-31 08610851 core:RetainedEarningsAccumulatedLosses 2023-03-31 08610851 core:RetainedEarningsAccumulatedLosses 2022-03-31 08610851 bus:OrdinaryShareClass1 2023-03-31 08610851 2022-04-01 2023-03-31 08610851 bus:FullAccounts 2022-04-01 2023-03-31 08610851 bus:SmallEntities 2022-04-01 2023-03-31 08610851 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08610851 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08610851 bus:Director1 2022-04-01 2023-03-31 08610851 bus:Director2 2022-04-01 2023-03-31 08610851 2021-04-01 2022-03-31 08610851 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 08610851 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08610851 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08610851 (England and Wales)

DOWDESWELL RESIDENTIAL (LONDON AND COTSWOLDS) LIMITED

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

DOWDESWELL RESIDENTIAL (LONDON AND COTSWOLDS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

DOWDESWELL RESIDENTIAL (LONDON AND COTSWOLDS) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
DOWDESWELL RESIDENTIAL (LONDON AND COTSWOLDS) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Current assets
Stocks 0 1,730
Debtors 3 251,539 315,803
Cash at bank and in hand 859,622 35,281
1,111,161 352,814
Creditors: amounts falling due within one year 4 ( 1,039,318) ( 298,706)
Net current assets 71,843 54,108
Total assets less current liabilities 71,843 54,108
Creditors: amounts falling due after more than one year 5 ( 28,333) ( 38,333)
Net assets 43,510 15,775
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 43,410 15,675
Total shareholders' funds 43,510 15,775

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 Dowdeswell Residential (London and Cotswolds) Limited (registered number: 08610851) were approved and authorised for issue by the Director on 05 March 2024. They were signed on its behalf by:

P Halfpenny
Director
DOWDESWELL RESIDENTIAL (LONDON AND COTSWOLDS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
DOWDESWELL RESIDENTIAL (LONDON AND COTSWOLDS) LIMITED

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

Dowdeswell Residential (London and Cotswolds) 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 The Limes, Bayshill Road, Cheltenham, GL50 3AW, 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 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 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.

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.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the Balance Sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

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 Statement of Financial Position date.

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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. 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.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

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 7 1

3. Debtors

2023 2022
£ £
Trade debtors 48,405 183,058
Prepayments and accrued income 102,842 81,067
VAT recoverable 0 16,664
Other debtors 100,292 35,014
251,539 315,803

4. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,000 10,000
Trade creditors 466,490 144,938
Amounts owed to Group undertakings 0 1,200
Amounts owed to director 21,382 0
Accruals 292,447 103,723
Taxation and social security 238,787 36,009
Other creditors 10,212 2,836
1,039,318 298,706

5. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 28,333 38,333

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with the entity's director

At the year-end, there was a balance owed by the company to the directors of £21,382 (2022: Nil). No interest is accruing on the loan to the company, which is repayable on demand. During the year loans were made to the directors with the maximum amount outstanding to a single director being £55,000. Interest was charged at 2% and the loan was fully repaid within the year.