REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
FOR |
DEAN LANE (WINCHESTER) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
FOR |
DEAN LANE (WINCHESTER) LIMITED |
DEAN LANE (WINCHESTER) LIMITED (REGISTERED NUMBER: 11700266) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30th November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DEAN LANE (WINCHESTER) LIMITED |
COMPANY INFORMATION |
for the Year Ended 30th November 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
222 Upper Richmond Road West |
London |
SW14 8AH |
DEAN LANE (WINCHESTER) LIMITED (REGISTERED NUMBER: 11700266) |
BALANCE SHEET |
30th November 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Work in progress stock | 4 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
DEAN LANE (WINCHESTER) LIMITED (REGISTERED NUMBER: 11700266) |
BALANCE SHEET - continued |
30th November 2023 |
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 |
DEAN LANE (WINCHESTER) LIMITED (REGISTERED NUMBER: 11700266) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30th November 2023 |
1. | STATUTORY INFORMATION |
Dean Lane (Winchester) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue from private housing sales and their respective profits are recognised when the property |
is structurally completed and legally transferred to the purchaser. Revenue is measured at the fair value of consideration received or receivable for the property, net of vat. |
Inventories (work in progress and stocks) |
Inventories are stated at the lower of cost and net realisable value. Costs, in relation to work in progress , comprises direct materials and, where applicable, direct labour and those overheads, that have been incurred in bringing the inventories to their present location and condition. |
Land held for development, including land in the course of development until legal completion of the sale of the asset, is initially recorded at cost. |
Options purchased in respect of land are capitalised initially at cost. The carrying cost of the option at the date of exercise is included within the cost of land purchased as a result of the option exercise. |
The cost of option not exercised are written off in the year that the decision is made. |
Valuation of work in progress and land held for development are carried at the lower of cost and net realisable value. The valuations are certified by surveyors. |
Borrowing costs |
Borrowing costs are recognised on an accruals basis and are payable in accordance with the loan agreement terms. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | WORK IN PROGRESS STOCK |
Inventories consists of Work in progress, land and where applicable, completed units. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
DEAN LANE (WINCHESTER) LIMITED (REGISTERED NUMBER: 11700266) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th November 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors | ( |
) |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Commercial loan |
Inter company loan | 508,277 | 79,714 |
It was commercially viable, due to the difficulty in raising finance for the new trade in residential property development, for the company to use loans obtained by the directors, for the specific purpose of purchasing the land and property. |
These loans and any interest payable on them, will not be due for payment by the company until the developments have been completed and sold. |
8. | ULTIMATE CONTROLLING PARTY |
The directors are the ultimate controlling party. |