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REGISTERED NUMBER: 05144069 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DE NOVO DEVELOPMENTS LIMITED

DE NOVO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05144069)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DE NOVO DEVELOPMENTS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Dr M J Dennis
Mrs S L Dennis





SECRETARY: Mrs S L Dennis





REGISTERED OFFICE: 124 Thorpe Road
Norwich
Norfolk
NR1 1RS





REGISTERED NUMBER: 05144069 (England and Wales)





ACCOUNTANTS: Sexty & Co
Chartered Certified Accountants
124 Thorpe Road
Norwich
Norfolk
NR1 1RS

DE NOVO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05144069)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 165 264
Investment property 5 760,000 760,000
760,165 760,264

CURRENT ASSETS
Work in progress 3,981 3,981
Cash at bank 11,936 77,410
15,917 81,391
CREDITORS
Amounts falling due within one year 6 68,247 7,047
NET CURRENT (LIABILITIES)/ASSETS (52,330 ) 74,344
TOTAL ASSETS LESS CURRENT
LIABILITIES

707,835

834,608

CREDITORS
Amounts falling due after more than one
year

7

(229,356

)

(315,220

)

PROVISIONS FOR LIABILITIES (44,173 ) (45,173 )
NET ASSETS 434,306 474,215

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 334,306 374,215
434,306 474,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

DE NOVO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05144069)

BALANCE SHEET - continued
31 December 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 2 September 2024 and were signed on its behalf by:





Mrs S L Dennis - Director


DE NOVO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05144069)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

De Novo 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.

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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance and Straight line over 3 years

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

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

DE NOVO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05144069)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 5,900
DEPRECIATION
At 1 January 2023 5,636
Charge for year 99
At 31 December 2023 5,735
NET BOOK VALUE
At 31 December 2023 165
At 31 December 2022 264

5. INVESTMENT PROPERTY

The historical cost of investment property at the year end was £542,933 (2022 £542,933). The directors valued the investment property at the year end based on open market value. The revaluation adjustment from cost was £217,067 (2022 £217,067). The valuation of investment property at the year end totalled £760,000 (2022 £760,000).

Cost or valuation at 31 December 2023 is represented by:
£   
Valuation in 2023 217,067
Cost 542,933
760,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security - 1,400
Other creditors 68,247 5,647
68,247 7,047

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 229,356 315,220

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loan 229,356 315,220

DE NOVO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05144069)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

8. RESERVES

Included within retained earnings is £171,894 (2022 £171,894) of non distributable reserves.