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REGISTERED NUMBER: 01581132 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

DOON DEVELOPMENTS LIMITED

DOON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01581132)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DOON DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTOR: J J P Griffin



REGISTERED OFFICE: 83 Cambridge Street
Pimlico
London
SW1V 4PS



REGISTERED NUMBER: 01581132 (England and Wales)



ACCOUNTANTS: George Hay & Company
Chartered Accountants
83 Cambridge Street
London
SW1V 4PS



BANKERS: Barclays Bank plc
West Moreland House
Scrubs Lane
London
NW10 6AH

DOON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01581132)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,955,005 4,609,555

CURRENT ASSETS
Debtors 5 1,947,240 2,529,780
Cash at bank 3,806,016 111,101
5,753,256 2,640,881
CREDITORS
Amounts falling due within one year 6 1,689,598 1,963,368
NET CURRENT ASSETS 4,063,658 677,513
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,018,663

5,287,068

PROVISIONS FOR LIABILITIES 7 263,962 394,143
NET ASSETS 5,754,701 4,892,925

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 5,754,699 4,892,923
SHAREHOLDERS' FUNDS 5,754,701 4,892,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

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 & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd March 2024 and were signed by:



J J P Griffin - Director


DOON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01581132)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

Doon Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable, all attributable to the principal activity of the company and arises within the United Kingdom.

Tangible fixed assets
Tangible fixed assets are comprised of investment property.

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting date. The surplus or deficit on revaluation is recognised in the profit and loss account. The investment property is valued by the directors on an existing use open market value basis.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current and 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.

DOON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01581132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1st July 2022 4,609,555
Additions 40,702
Disposals (2,695,252 )
At 30th June 2023 1,955,005
NET BOOK VALUE
At 30th June 2023 1,955,005
At 30th June 2022 4,609,555

The investment properties have been revalued by the directors on an open market basis at 30th June 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amount due from associated
company 1,946,495 1,945,630
Due from holding company - 581,649
VAT 745 2,501
1,947,240 2,529,780

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 34 1,950,936
Tax 322,368 173
Other creditors 8,405 6,659
Directors' current accounts 1,354,190 -
Accrued expenses 4,601 5,600
1,689,598 1,963,368

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 263,962 394,143

DOON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01581132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st July 2022 394,143
Provided during year (130,181 )
Balance at 30th June 2023 263,962

8. RELATED PARTY DISCLOSURES

At 30th June 2023 the holding company, Milford Securities Limited, owed £nil (2022: £581,649)

At 30th June 2023 Doon Developments Limited was owed £1,946,495 (2022: £1,945,630) by an associated company Milford Property Management Limited .

9. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by its director, J J P Griffin by virtue of his 100% shareholding in Milford Securities Limited.