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REGISTERED NUMBER: 08737305 (England and Wales)















Financial Statements for the Year Ended 31 October 2023

for

The Dering Development Co Ltd

The Dering Development Co Ltd (Registered number: 08737305)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Dering Development Co Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: A M Roffey





REGISTERED OFFICE: Palmeira Avenue Mansions
19 Church Road
Hove
East Sussex
BN3 2FA





REGISTERED NUMBER: 08737305 (England and Wales)





ACCOUNTANTS: Atkinsons
Chartered Accountants
Palmeira Avenue Mansions
19 Church Road
Hove
East Sussex
BN3 2FA

The Dering Development Co Ltd (Registered number: 08737305)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 356 474
Investment property 5 2,060,000 2,090,000
2,060,356 2,090,474

CURRENT ASSETS
Cash at bank 1,125 1,388

CREDITORS
Amounts falling due within one year 6 499,814 323,890
NET CURRENT LIABILITIES (498,689 ) (322,502 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,561,667

1,767,972

CREDITORS
Amounts falling due after more than one
year

7

1,638,940

1,706,397
NET (LIABILITIES)/ASSETS (77,273 ) 61,575

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium (265,000 ) (265,000 )
Fair value reserve 891,915 921,915
Retained earnings (704,288 ) (595,440 )
SHAREHOLDERS' FUNDS (77,273 ) 61,575

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Dering Development Co Ltd (Registered number: 08737305)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 April 2024 and were signed by:





A M Roffey - Director


The Dering Development Co Ltd (Registered number: 08737305)

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

1. STATUTORY INFORMATION

The Dering Development Co Ltd 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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. At the year end the current liabilities exceeded current assets by £498,689. The validity of this basis depends upon the continued support of the company's director. The director confirms that they will give the required support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 449 959 1,408
DEPRECIATION
At 1 November 2022 112 822 934
Charge for year 84 34 118
At 31 October 2023 196 856 1,052
NET BOOK VALUE
At 31 October 2023 253 103 356
At 31 October 2022 337 137 474

The Dering Development Co Ltd (Registered number: 08737305)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 2,090,000
Impairments (30,000 )
At 31 October 2023 2,060,000
NET BOOK VALUE
At 31 October 2023 2,060,000
At 31 October 2022 2,090,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2021 1,500,000
Cost 560,000
2,060,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.10.23 31.10.22
£    £   
Cost 476,653 476,653

Investment property was valued on an open market basis on 8 July 2021 by Strutt & Parker .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 166,223 102,651
Other creditors 333,591 221,239
499,814 323,890

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 1,638,940 1,706,397

8. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under FRS 102 1AC.35 whereby particulars need not be given for related party transactions concluded under normal market conditions, or transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly-owned by such a member.