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COMPANY REGISTRATION NUMBER: 06300309
Demlyn Group Limited
Filleted Unaudited Financial Statements
31 July 2023
Demlyn Group Limited
Financial Statements
Year ended 31 July 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Demlyn Group Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,489,583
1,459,146
Current assets
Stocks
9,057
6,182
Debtors
7
119,063
128,264
Cash at bank and in hand
171,657
187,633
---------
---------
299,777
322,079
Creditors: amounts falling due within one year
8
3,172,797
3,132,624
------------
------------
Net current liabilities
2,873,020
2,810,545
------------
------------
Total assets less current liabilities
( 1,383,437)
( 1,351,399)
------------
------------
Net liabilities
( 1,383,437)
( 1,351,399)
------------
------------
Capital and reserves
Called up share capital
200
200
Share premium account
6,484
6,484
Profit and loss account
( 1,390,121)
( 1,358,083)
------------
------------
Shareholders deficit
( 1,383,437)
( 1,351,399)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Demlyn Group Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 23 April 2024 , and are signed on behalf of the board by:
L R Desmarais
Director
Company registration number: 06300309
Demlyn Group Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis, on the understanding the director will continue to support the company for the foreseeable future.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
2% straight line
Plant & Machinery
-
25% straight line
Fixtures & Fittings
-
25% straight line
Motor Vehicles
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2022: 30 ).
5. Tangible assets
Freehold Property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Aug 2022
1,573,216
374,203
583,916
1,000
90,438
2,622,773
Additions
15,060
41,297
54,277
110,634
------------
---------
---------
-------
--------
------------
At 31 Jul 2023
1,588,276
415,500
638,193
1,000
90,438
2,733,407
------------
---------
---------
-------
--------
------------
Depreciation
At 1 Aug 2022
204,623
336,089
534,842
1,000
87,073
1,163,627
Charge for the year
31,654
19,123
27,733
1,687
80,197
------------
---------
---------
-------
--------
------------
At 31 Jul 2023
236,277
355,212
562,575
1,000
88,760
1,243,824
------------
---------
---------
-------
--------
------------
Carrying amount
At 31 Jul 2023
1,351,999
60,288
75,618
1,678
1,489,583
------------
---------
---------
-------
--------
------------
At 31 Jul 2022
1,368,593
38,114
49,074
3,365
1,459,146
------------
---------
---------
-------
--------
------------
6. Investments
Shares in group undertakings
£
Cost
At 1 August 2022 and 31 July 2023
6,584
-------
Impairment
At 1 August 2022 and 31 July 2023
6,584
-------
Carrying amount
At 31 July 2023
-------
At 31 July 2022
-------
7. Debtors
2023
2022
£
£
Trade debtors
71,553
57,756
Other debtors
47,510
70,508
---------
---------
119,063
128,264
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
73,671
102,400
Social security and other taxes
135,436
111,177
Other creditors
2,963,690
2,919,047
------------
------------
3,172,797
3,132,624
------------
------------
9. Related party transactions
The hotels and restaurant used in business by the company are owned by the director. The company had use of the properties rent free during the year.