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Registration number: 08299553

Devon Beacon House Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Devon Beacon House Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Devon Beacon House Limited

(Registration number: 08299553)
Statement of Financial Position as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,492

13,524

Current assets

 

Debtors

5

3,505

163

Cash at bank and in hand

 

23,011

40,913

 

26,516

41,076

Creditors: Amounts falling due within one year

6

(54,797)

(65,779)

Net current liabilities

 

(28,281)

(24,703)

Net liabilities

 

(15,789)

(11,179)

Capital and reserves

 

Called up share capital

4

4

Profit and loss account

(15,793)

(11,183)

Shareholders' deficit

 

(15,789)

(11,179)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 10 April 2024 and signed on its behalf by:
 


Mrs AJ Copp
Director

 

Devon Beacon House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Beacon House
Orchard Hill
Bideford
Devon
EX39 2QY

Principal activity

The principal activity of the company is the provision and management of holiday accommodation

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Devon Beacon House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long leasehold property

10% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Devon Beacon House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 December 2022

24,413

57,160

81,573

Additions

-

1,535

1,535

At 30 November 2023

24,413

58,695

83,108

Depreciation

At 1 December 2022

16,089

51,960

68,049

Charge for the year

879

1,688

2,567

At 30 November 2023

16,968

53,648

70,616

Carrying amount

At 30 November 2023

7,445

5,047

12,492

At 30 November 2022

8,324

5,200

13,524

Included within the net book value of land and buildings above is £7,445 (2022 - £8,324) in respect of long leasehold land and buildings.
 

 

Devon Beacon House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Debtors

2023
£

2022
£

Trade debtors

3,258

-

Prepayments

247

163

3,505

163

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

831

2,233

Taxation and social security

-

1,642

Accruals and deferred income

2,322

2,090

Other creditors

51,644

59,814

54,797

65,779

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

At 30 November 2023
£

(59,814)

8,170

(51,644)

       
     

 

2022

At 1 December 2021
£

Advances to director
£

At 30 November 2022
£

(59,849)

35

(59,814)