Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-303true32022-07-01falseNo description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12673298 2022-07-01 2023-06-30 12673298 2021-07-01 2022-06-30 12673298 2023-06-30 12673298 2022-06-30 12673298 2021-07-01 12673298 c:Director1 2022-07-01 2023-06-30 12673298 d:ComputerEquipment 2022-07-01 2023-06-30 12673298 d:ComputerEquipment 2023-06-30 12673298 d:ComputerEquipment 2022-06-30 12673298 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 12673298 d:CurrentFinancialInstruments 2023-06-30 12673298 d:CurrentFinancialInstruments 2022-06-30 12673298 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12673298 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 12673298 d:ShareCapital 2022-07-01 2023-06-30 12673298 d:ShareCapital 2023-06-30 12673298 d:ShareCapital 2021-07-01 2022-06-30 12673298 d:ShareCapital 2022-06-30 12673298 d:ShareCapital 2021-07-01 12673298 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 12673298 d:RetainedEarningsAccumulatedLosses 2023-06-30 12673298 d:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 12673298 d:RetainedEarningsAccumulatedLosses 2022-06-30 12673298 d:RetainedEarningsAccumulatedLosses 2021-07-01 12673298 c:FRS102 2022-07-01 2023-06-30 12673298 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 12673298 c:FullAccounts 2022-07-01 2023-06-30 12673298 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 12673298









DEVON ENERGY LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023














 
DEVON ENERGY LTD
REGISTERED NUMBER:12673298

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022 As restated 
Note
£
£

Fixed assets
  

Tangible assets
  
105
-

  
105
-

Current assets
  

Debtors: amounts falling due within one year
 5 
6,421
9,173

Cash at bank and in hand
 6 
19,466
7,006

  
25,887
16,179

Creditors: amounts falling due within one year
 7 
(18,956)
(15,986)

Net current assets
  
 
 
6,931
 
 
193

Total assets less current liabilities
  
7,036
193

  

Net assets
  
7,036
193


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
6,936
93

  
7,036
193


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 April 2024.


Page 1

 
DEVON ENERGY LTD
REGISTERED NUMBER:12673298
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023



N Walland
Director

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 
DEVON ENERGY LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2022
100
93
193


Comprehensive income for the year

Profit for the year

-
34,843
34,843


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
34,843
34,843


Contributions by and distributions to owners

Dividends: Equity capital
-
(28,000)
(28,000)


Total transactions with owners
-
(28,000)
(28,000)


At 30 June 2023
100
6,936
7,036


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 
DEVON ENERGY LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2021
1
3,712
3,713


Comprehensive income for the year

Profit for the year

-
21,381
21,381


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
21,381
21,381


Contributions by and distributions to owners

Dividends: Equity capital
-
(25,000)
(25,000)

Shares issued during the year
99
-
99


Total transactions with owners
99
(25,000)
(24,901)


At 30 June 2022
100
93
193


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
DEVON ENERGY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Devon Energy Ltd is a private company, limited by shares, registered in England and Wales. The
registered office is 3 Lime Close, Broadclyst, Exeter, England, EX5 3LU. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 5

 
DEVON ENERGY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
DEVON ENERGY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

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 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 the Statement of income and retained earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
3
3

Page 7

 
DEVON ENERGY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
158



At 30 June 2023

158



Depreciation


Charge for the year on owned assets
53



At 30 June 2023

53



Net book value



At 30 June 2023
105



At 30 June 2022
-


5.


Debtors

2023
2022 As restated
£
£


Trade debtors
4,817
5,338

Other debtors
1,604
3,835

6,421
9,173



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
19,466
7,006

19,466
7,006


Page 8

 
DEVON ENERGY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

2023
2022 As restated 
£
£

Trade creditors
3,285
8,745

Corporation tax
8,192
5,439

Other taxation and social security
6,006
1,802

Other creditors
223
-

Accruals and deferred income
1,250
-

18,956
15,986



8.


Prior year adjustment

A prior year adjustment was required to reduce dividends declared within the 2022 accounting period, as the company did not have sufficient reserves to declare the dividends previously disclosed. 
A further prior year adjustment has been posted to reduce gross wages and employer's national insurance contributions from cost of sales to administration expenses. 
These reclassifications have no overall impact on the profit for the year.

 
Page 9