REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Deacon Properties (Tunbridge Wells) Ltd |
REGISTERED NUMBER: |
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 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors: amounts falling due within one year |
6 |
Net current assets |
Total assets less current liabilities |
Creditors: amounts falling due after more than one year |
7 |
Net assets/(liabilities) | ( |
) |
Capital and reserves |
Called up share capital | 8 |
Capital Contribution reserve |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) |
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 |
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 |
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 |
Registered number: |
Registered office: |
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 |
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 |
Additions |
At 31 December 2023 |
Depreciation |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Other creditors |
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: | £ | £ |
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. |