Registered number
08676263
Derryscroft Ltd
Filleted Accounts
29 February 2024
Derryscroft Ltd
Registered number: 08676263
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 200,000 200,000
Current assets
Debtors 4 200 -
Cash at bank and in hand 3,580 7,980
3,780 7,980
Creditors: amounts falling due within one year 5 (8,775) (9,940)
Net current liabilities (4,995) (1,960)
Net assets 195,005 198,040
Capital and reserves
Called up share capital 169,650 169,650
Revaluation reserve 6 35,000 35,000
Profit and loss account (9,645) (6,610)
Shareholders' funds 195,005 198,040
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Micklewright
Director
Approved by the board on 25 July 2024
Derryscroft Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investments
Property
investments
£
Cost
At 1 March 2023 200,000
At 29 February 2024 200,000
4 Debtors 2024 2023
£ £
Other debtors 200 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs (21) -
Other creditors 8,796 9,940
8,775 9,940
6 Revaluation reserve 2024 2023
£ £
At 1 March 2023 35,000 35,000
At 29 February 2024 35,000 35,000
7 Other information
Derryscroft Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Grove Farm Close
Long Buckley
Northampton
NN6 7XH
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