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REGISTERED NUMBER: 11064259 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

EXETER DEVELOPMENTS LIMITED

EXETER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11064259)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


EXETER DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: D P Chard
D Haines





REGISTERED OFFICE: Spurway Farm
Exminster
Exeter
Devon
EX6 8AZ





REGISTERED NUMBER: 11064259 (England and Wales)





ACCOUNTANTS: Sheppard Rockey & Williams Ltd
Sannerville Chase
Exminster
Exeter
Devon
EX6 8AT

EXETER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11064259)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,045 17,727
Investment property 5 642,124 642,124
702,169 659,851

CURRENT ASSETS
Stocks 563,714 1,192,187
Debtors 6 136,650 347,419
Cash at bank 565 19,604
700,929 1,559,210
CREDITORS
Amounts falling due within one year 7 1,016,384 1,919,034
NET CURRENT LIABILITIES (315,455 ) (359,824 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

386,714

300,027

CREDITORS
Amounts falling due after more than one
year

8

(54,561

)

(23,924

)

PROVISIONS FOR LIABILITIES (11,865 ) (3,369 )
NET ASSETS 320,288 272,734

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 319,288 271,734
SHAREHOLDERS' FUNDS 320,288 272,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EXETER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11064259)

BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




D P Chard - Director



D Haines - Director


EXETER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11064259)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Exeter Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and equipment - 15% on cost
Office equipment - 15% on cost
Motor vehicles - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

EXETER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11064259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Going concern
The financial statements have been prepared on a going concern basis. The directors have confirmed they will provide sufficient funding to enable the company to continue trading for at least twelve months after the date of the approval of the statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office Motor
equipment equipment vehicles Totals
£    £    £    £   
COST
At 1 December 2022 28,897 2,343 - 31,240
Additions - - 62,672 62,672
At 30 November 2023 28,897 2,343 62,672 93,912
DEPRECIATION
At 1 December 2022 12,961 552 - 13,513
Charge for year 4,335 351 15,668 20,354
At 30 November 2023 17,296 903 15,668 33,867
NET BOOK VALUE
At 30 November 2023 11,601 1,440 47,004 60,045
At 30 November 2022 15,936 1,791 - 17,727

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 62,672
At 30 November 2023 62,672
DEPRECIATION
Charge for year 15,668
At 30 November 2023 15,668
NET BOOK VALUE
At 30 November 2023 47,004

EXETER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11064259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 642,124
NET BOOK VALUE
At 30 November 2023 642,124
At 30 November 2022 642,124

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 5,225 206,516
Other debtors 131,425 140,903
136,650 347,419

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 309,143 283,456
Hire purchase contracts 12,911 -
Trade creditors 33,429 123,494
Taxation and social security 60,236 54,221
Other creditors 600,665 1,457,863
1,016,384 1,919,034

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 13,924 23,924
Hire purchase contracts 40,637 -
54,561 23,924

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Property Development Loan - 272,380
Allica Bank 298,067 -
298,067 272,380

The loan is secured by a fixed and floating charge over the assets of the company dated 13 November 2023.

EXETER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11064259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
500 Ordinary A £1 500 500
500 Ordinary B £1 500 500
1,000 1,000

11. RELATED PARTY DISCLOSURES

Included in other creditors falling due within one year are loans from the directors amounting to £188,586 (2022: £132,323). The loans are subject to interest at a commercial rate, unsecured and repayable on demand.