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REGISTERED NUMBER: 07059862 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Deacon Properties (Tunbridge Wells) Ltd

Deacon Properties (Tunbridge Wells) Ltd (Registered number: 07059862)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Deacon Properties (Tunbridge Wells) Ltd (Registered number: 07059862)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible fixed assets 4 5,206 6,578

Current assets
Stocks 3,047,611 1,702,171
Debtors 5 52,008 100,002
Cash at bank 14,967 7,531
3,114,586 1,809,704
Creditors: amounts falling due within
one year

6

2,387,109

1,770,129
Net current assets 727,477 39,575
Total assets less current liabilities 732,683 46,153

Creditors: amounts falling due after
more than one year

7

-

59,199
Net assets/(liabilities) 732,683 (13,046 )

Capital and reserves
Called up share capital 8 100 100
Capital Contribution reserve 755,928 -
Retained earnings (23,345 ) (13,146 )
Shareholders' funds 732,683 (13,046 )

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

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

The director acknowledges his 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.

Deacon Properties (Tunbridge Wells) Ltd (Registered number: 07059862)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 April 2024 and were signed by:





B P Ward - Director


Deacon Properties (Tunbridge Wells) Ltd (Registered number: 07059862)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. Statutory information

Deacon Properties (Tunbridge Wells) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07059862

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% straight line
Computer Equipment - 20% reducing balance

Stocks
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Deacon Properties (Tunbridge Wells) Ltd (Registered number: 07059862)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Capitalisation of borrowing costs
Interest on borrowing amounting to £168,588 (2022:£126,444) has been capitalised in these accounts. The impact of this was to increase both work in progress and accruals.

3. Employees and directors

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

Deacon Properties (Tunbridge Wells) Ltd (Registered number: 07059862)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 January 2023 8,135 - 8,135
Additions - 708 708
At 31 December 2023 8,135 708 8,843
Depreciation
At 1 January 2023 1,557 - 1,557
Charge for year 2,033 47 2,080
At 31 December 2023 3,590 47 3,637
Net book value
At 31 December 2023 4,545 661 5,206
At 31 December 2022 6,578 - 6,578

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 4,843 -
Other debtors 47,165 100,002
52,008 100,002

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors - 27,118
Amounts owed to group undertakings 210,943 117,500
Taxation and social security 2,212 966
Other creditors 2,173,954 1,624,545
2,387,109 1,770,129

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Other creditors - 59,199

Deacon Properties (Tunbridge Wells) Ltd (Registered number: 07059862)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. Related party disclosures

At the year end, the company owed the director £1,838,540 (2022: £1,498,656).

10. Ultimate controlling party

In the creditors there is a balance of £210,943 (2022:£117,500) owed to Wealden Investments Limited.