Company No:
Contents
DIRECTORS | Mr D A Cole |
Mr P M Keep | |
Mr A Seager |
REGISTERED OFFICE | Lowin House |
Tregolls Road | |
Truro | |
Cornwall | |
TR1 2NA | |
United Kingdom |
COMPANY NUMBER | 11437959 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Lowin House | |
Tregolls Road | |
Truro | |
Cornwall TR1 2NA |
BANKERS | Barlcays Bank plc |
Leicester | |
Leicestershire | |
LE87 2BB |
SOLICITORS | Murrell Associates |
14 High Cross | |
Truro | |
Cornwall | |
TR1 2AJ |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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274 | 1,005 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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138,091 | 261,719 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 13,881 | 11,385 | ||
Total assets less current liabilities | 14,155 | 12,390 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of David Cole Homes Limited (registered number:
Mr D A Cole
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
David Cole Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road,, Truro, Cornwall, TR1 2NA, United Kingdom. The principal place of business is Trethellan Barn, Trevean Way, Newquay, Cornwall, TR7 1TW.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The company recognises revenue on an annual basis in recognition of services provided during the year.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Office equipment |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Office equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 July 2022 |
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At 30 June 2023 |
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Accumulated depreciation | |||
At 01 July 2022 |
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Charge for the financial year |
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At 30 June 2023 |
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Net book value | |||
At 30 June 2023 |
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At 30 June 2022 |
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Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 July 2022 |
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At 30 June 2023 |
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Carrying value at 30 June 2023 |
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Carrying value at 30 June 2022 |
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Investments in shares
Name of entity | Registered office | Principal activity | Class of shares |
Ownership 30.06.2023 |
Ownership 30.06.2022 |
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Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA | Property Development |
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Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA | Property Development |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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Corporation tax |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed to Group undertakings |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
2023 | 2022 | ||
£ | £ | ||
Mr D A Cole | 910 | 910 | |
Mr P M Keep | 0 | (50,000) | |
Mr A Seager | 0 | (100,000) |
At the balance sheet date the company owed David Cole Property Limited (Mr D A Cole) £910 (2022 - £910), was owed £nil by 5minutesaway Limited (Mr P M Keep) (2022 - £50,000) and was owed £nil by Project Trading & Management Limited (Mr A Seager) (2022 - £100,000).
Other related party transactions
2023 | 2022 | ||
£ | £ | ||
DCD (St Marina) Limited | 17,248 | 17,248 | |
DCH (Cornwall 1) Limited | 99,551 | 218,931 | |
DCH (Cornwall 2) Limited | (107,455) | (79,699) |
DCD (St Marina) Limited
A company under the control of the director Mr D A Cole
Interest free loan
At the balance sheet date the company owed DCD (St Marina) Limited £17,428 on an intercompany loan account (2022 - £17,248).
DCH (Cornwall 1) Limited
Parent company
Interest free loan
At the balance sheet date the company owed DCH (Cornwall 1) Limited £99,551 on an intercompany loan account (2022 - £218,931).
DCH (Cornwall 2) Limited
A fellow group company
Interest free loan
At the balance sheet date DCH (Cornwall 2) Limited owed the company £107,455 on an intercompany loan account (2022 - £79,699).