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COMPANY REGISTRATION NUMBER: 11477402
Dovetail Property Developments Ltd
Filleted Unaudited Financial Statements
31 August 2023
Dovetail Property Developments Ltd
Statement of Financial Position
31 August 2023
31 Aug 23
31 Jul 22
Note
£
£
Current assets
Stocks
2,895,488
Debtors
4
236,454
28,050
Cash at bank and in hand
10,128
329,350
---------
------------
246,582
3,252,888
Creditors: amounts falling due within one year
5
41,957
1,499,448
---------
------------
Net current assets
204,625
1,753,440
---------
------------
Total assets less current liabilities
204,625
1,753,440
Creditors: amounts falling due after more than one year
6
24,542
1,686,650
---------
------------
Net assets
180,083
66,790
---------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
179,983
66,690
---------
--------
Shareholders funds
180,083
66,790
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the Period ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dovetail Property Developments Ltd
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
Mr L Heer
Director
Company registration number: 11477402
Dovetail Property Developments Ltd
Notes to the Financial Statements
Period from 1 August 2022 to 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover relates to the sale of land and properties and is recognised when a sale contract is legally binding.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Debtors
31 Aug 23
31 Jul 22
£
£
Other debtors
236,454
28,050
---------
--------
5. Creditors: amounts falling due within one year
31 Aug 23
31 Jul 22
£
£
Bank loans and overdrafts
10,890
10,132
Trade creditors
26,419
Corporation tax
28,067
15,643
Other creditors
3,000
1,447,254
--------
------------
41,957
1,499,448
--------
------------
6. Creditors: amounts falling due after more than one year
31 Aug 23
31 Jul 22
£
£
Bank loans and overdrafts
24,542
1,686,650
--------
------------
7. Related party transactions
During the year the company received loans of £nil (2022: £1,438,500) from related parties. The loans were interest free and repayable on demand. During the year the company provided loans of £236,454.40 (2022: £27,000) to related parties. The loans were interest free and repayable on demand.