1 December 2022 false No description of principal activity Taxfiler 2024.5 SC646298business:PrivateLimitedCompanyLtd2022-12-012023-11-30 SC6462982022-11-30 SC6462982022-12-012023-11-30 SC646298business:AuditExemptWithAccountantsReport2022-12-012023-11-30 SC646298business:FilletedAccounts2022-12-012023-11-30 SC6462982023-11-30 SC646298business:Director12022-12-012023-11-30 SC646298business:RegisteredOffice2022-12-012023-11-30 SC6462982022-11-30 SC646298core:WithinOneYear2023-11-30 SC646298core:WithinOneYear2022-11-30 SC646298core:AfterOneYear2023-11-30 SC646298core:AfterOneYear2022-11-30 SC646298core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 SC646298core:ShareCapitalcore:PreviouslyStatedAmount2022-11-30 SC646298core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 SC646298core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-11-30 SC646298core:PreviouslyStatedAmount2023-11-30 SC646298core:PreviouslyStatedAmount2022-11-30 SC646298business:SmallEntities2022-12-012023-11-30 SC646298countries:Scotland2022-12-012023-11-30 SC646298core:PlantMachinery2022-12-012023-11-30 SC646298core:PlantMachinery2022-11-30 SC646298core:PlantMachinery2023-11-30 SC646298business:OrdinaryShareClass12022-12-012023-11-30 SC646298business:OrdinaryShareClass12021-12-012022-11-30 SC6462982021-12-012022-11-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC646298 (Scotland)
Developments 38 Ltd Unaudited accounts for the year ended 30 November 2023
Developments 38 Ltd Unaudited accounts Contents
Page
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Developments 38 Ltd Company Information for the year ended 30 November 2023
Director
Barry John Corr
Company Number
SC646298 (Scotland)
Registered Office
18 Blackhill Gardens Glasgow G23 5NE Scotland
Accountants
Calculo Ltd Red Tree Magenta 270 Glasgow Road Glasgow G73 1SA
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Developments 38 Ltd Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
19,214 
19,408 
Investment property
522,500 
673,500 
541,714 
692,908 
Current assets
Debtors
46,883 
48,092 
Cash at bank and in hand
47,417 
66,420 
94,300 
114,512 
Creditors: amounts falling due within one year
(52,906)
(61,020)
Net current assets
41,394 
53,492 
Total assets less current liabilities
583,108 
746,400 
Creditors: amounts falling due after more than one year
(397,835)
(590,490)
Provisions for liabilities
Deferred tax
(46,125)
(41,750)
Net assets
139,148 
114,160 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
139,048 
114,060 
Shareholders' funds
139,148 
114,160 
For the year ending 30 November 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 August 2024 and were signed on its behalf by
Barry John Corr Director Company Registration No. SC646298
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Developments 38 Ltd Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Developments 38 Ltd is a private company, limited by shares, registered in Scotland, registration number SC646298. The registered office is 18 Blackhill Gardens, Glasgow, G23 5NE, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2022
23,960 
At 30 November 2023
23,960 
Depreciation
At 1 December 2022
4,552 
Charge for the year
194 
At 30 November 2023
4,746 
Net book value
At 30 November 2023
19,214 
At 30 November 2022
19,408 
5
Investment property
2023 
£ 
Fair value at 1 December 2022
673,500 
Disposals
(168,500)
Net gain from fair value adjustments
17,500 
At 30 November 2023
522,500 
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Developments 38 Ltd Notes to the Accounts for the year ended 30 November 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
46,883 
48,092 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,618 
5,500 
Other creditors
5,000 
5,000 
Loans from directors
41,288 
50,520 
52,906 
61,020 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
362,078 
486,878 
Obligations under finance leases and hire purchase contracts
8,534 
13,612 
Other creditors
27,223 
90,000 
397,835 
590,490 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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