Acorah Software Products - Accounts Production 15.0.500 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 04921930 Mr John Gavin Mrs Julie Gavin Arch Accountancy Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04921930 2022-10-31 04921930 2023-10-31 04921930 2022-11-01 2023-10-31 04921930 frs-core:CurrentFinancialInstruments 2023-10-31 04921930 frs-core:FurnitureFittings 2023-10-31 04921930 frs-core:FurnitureFittings 2022-11-01 2023-10-31 04921930 frs-core:FurnitureFittings 2022-10-31 04921930 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 04921930 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04921930 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-10-31 04921930 frs-core:ShareCapital 2023-10-31 04921930 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 04921930 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04921930 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 04921930 frs-bus:SmallEntities 2022-11-01 2023-10-31 04921930 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 04921930 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 04921930 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-11-01 2023-10-31 04921930 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31 04921930 frs-bus:Director1 2022-11-01 2023-10-31 04921930 frs-bus:Director2 2022-11-01 2023-10-31 04921930 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 04921930 frs-core:CurrentFinancialInstruments 1 2023-10-31 04921930 frs-core:CurrentFinancialInstruments 2 2023-10-31 04921930 frs-countries:EnglandWales 2022-11-01 2023-10-31 04921930 2021-10-31 04921930 2022-10-31 04921930 2021-11-01 2022-10-31 04921930 frs-core:CurrentFinancialInstruments 2022-10-31 04921930 frs-core:ShareCapital 2022-10-31 04921930 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 04921930 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-10-31 04921930 frs-core:CurrentFinancialInstruments 1 2022-10-31 04921930 frs-core:CurrentFinancialInstruments 2 2022-10-31
Registered number: 04921930
Devon Property Investments Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Wilkinson Accounting Solutions Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04921930
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 700,317 387
700,317 387
CURRENT ASSETS
Stocks 5 - 405,270
Cash at bank and in hand 45 -
45 405,270
Creditors: Amounts Falling Due Within One Year 6 (269,777 ) (279,467 )
NET CURRENT ASSETS (LIABILITIES) (269,732 ) 125,803
TOTAL ASSETS LESS CURRENT LIABILITIES 430,585 126,190
PROVISIONS FOR LIABILITIES
Deferred Taxation (73,683 ) -
NET ASSETS 356,902 126,190
CAPITAL AND RESERVES
Called up share capital 7 101,001 101,000
Fair Value Reserve 8 221,048 -
Profit and Loss Account 34,853 25,190
SHAREHOLDERS' FUNDS 356,902 126,190
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Julie Gavin
Director
25/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Devon Property Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04921930 . The registered office is 28 NORTHFIELD ROAD, PETERBOROUGH, PE1 3QH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Revaluation value
Fixtures & Fittings 18% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7.
Trade Creditors
Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts Payable are classified as current liabilities if the company does not have an unconditional right at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2022 - 3,647 3,647
Additions 700,000 - 700,000
As at 31 October 2023 700,000 3,647 703,647
Depreciation
As at 1 November 2022 - 3,260 3,260
Provided during the period - 70 70
As at 31 October 2023 - 3,330 3,330
Net Book Value
As at 31 October 2023 700,000 317 700,317
As at 1 November 2022 - 387 387
5. Stocks
2023 2022
£ £
Stock - 405,270
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 58 -
Bank loans and overdrafts - 18
Corporation tax 2,518 131
Other creditor 510 2,000
Wilkinson Accountancy 2,634 5,477
Directors' loan accounts 264,057 271,841
269,777 279,467
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 101,001 101,000
8. Reserves
Fair Value Reserve
£
Transfer to profit and loss 221,048
As at 31 October 2023 221,048
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