IRIS Accounts Production v24.2.0.383 05037934 director 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model Ordinary 1.00000 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050379342023-04-30050379342024-04-30050379342023-05-012024-04-30050379342022-04-30050379342022-05-012023-04-30050379342023-04-3005037934ns15:EnglandWales2023-05-012024-04-3005037934ns14:PoundSterling2023-05-012024-04-3005037934ns10:Director12023-05-012024-04-3005037934ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005037934ns10:SmallEntities2023-05-012024-04-3005037934ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3005037934ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3005037934ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005037934ns10:AbridgedAccounts2023-05-012024-04-3005037934ns10:OrdinaryShareClass12023-05-012024-04-3005037934ns10:RegisteredOffice2023-05-012024-04-3005037934ns5:CurrentFinancialInstruments2024-04-3005037934ns5:CurrentFinancialInstruments2023-04-3005037934ns5:Non-currentFinancialInstruments2024-04-3005037934ns5:Non-currentFinancialInstruments2023-04-3005037934ns5:ShareCapital2024-04-3005037934ns5:ShareCapital2023-04-3005037934ns5:RetainedEarningsAccumulatedLosses2024-04-3005037934ns5:RetainedEarningsAccumulatedLosses2023-04-3005037934ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-05-012024-04-3005037934ns5:FurnitureFittings2023-05-012024-04-3005037934ns5:Securedns5:MoreThanFiveYears2024-04-3005037934ns5:Securedns5:MoreThanFiveYears2023-04-3005037934ns5:WithinOneYear2024-04-3005037934ns5:WithinOneYear2023-04-3005037934ns5:BetweenOneFiveYears2024-04-3005037934ns5:BetweenOneFiveYears2023-04-3005037934ns5:AllPeriods2024-04-3005037934ns5:AllPeriods2023-04-3005037934ns5:Secured2023-04-3005037934ns10:OrdinaryShareClass12024-04-30050379341ns10:Director12023-04-30050379341ns10:Director12022-04-30050379341ns10:Director12023-05-012024-04-30050379341ns10:Director12022-05-012023-04-30050379341ns10:Director12024-04-30050379341ns10:Director12023-04-30
REGISTERED NUMBER: 05037934 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Devon Direct Insurance Services Ltd

Devon Direct Insurance Services Ltd (Registered number: 05037934)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Devon Direct Insurance Services Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Miss H R Coward





REGISTERED OFFICE: 30 Southdown Avenue
Brixham
Devon
TQ5 0AN





REGISTERED NUMBER: 05037934 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Devon Direct Insurance Services Ltd (Registered number: 05037934)

Abridged Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 40,013 40,946
Investment property 6 122,207 122,207
162,220 163,153

CURRENT ASSETS
Debtors 17,212 1,148
Cash at bank and in hand 196,134 205,118
213,346 206,266
CREDITORS
Amounts falling due within one year 83,210 86,353
NET CURRENT ASSETS 130,136 119,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

292,356

283,066

CREDITORS
Amounts falling due after more than one
year

7

(127,069

)

(136,127

)

PROVISIONS FOR LIABILITIES (227 ) (272 )
NET ASSETS 165,060 146,667

CAPITAL AND RESERVES
Called up share capital 10 5,250 5,250
Retained earnings 159,810 141,417
SHAREHOLDERS' FUNDS 165,060 146,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Devon Direct Insurance Services Ltd (Registered number: 05037934)

Abridged Balance Sheet - continued
30 April 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 10 September 2024 and were signed by:





Miss H R Coward - Director


Devon Direct Insurance Services Ltd (Registered number: 05037934)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Devon Direct Insurance Services Ltd 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line
Fixtures and fittings - 20% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Devon Direct Insurance Services Ltd (Registered number: 05037934)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the director considers that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 49,705
Additions 455
At 30 April 2024 50,160
DEPRECIATION
At 1 May 2023 8,759
Charge for year 1,388
At 30 April 2024 10,147
NET BOOK VALUE
At 30 April 2024 40,013
At 30 April 2023 40,946


Devon Direct Insurance Services Ltd (Registered number: 05037934)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 122,207
NET BOOK VALUE
At 30 April 2024 122,207
At 30 April 2023 122,207

The freehold investment property was valued on an open market basis at the balance sheet date.

The investment property is accounted for at fair value on an on-going basis.

The historical cost of the freehold investment property was £122,207.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Mortgage due after 5 years 93,759 79,803

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 3,496 3,496
Between one and five years 2,622 6,118
6,118 9,614

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 113,009 116,404

The mortgage is secured by a fixed charge upon the property to which it relates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,250 Ordinary £1 5,250 5,250

Devon Direct Insurance Services Ltd (Registered number: 05037934)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Miss H R Coward
Balance outstanding at start of year 397 1,381
Amounts advanced 501 915
Amounts repaid (898 ) (1,899 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 397

The maximum overdrawn balance during the year was £476.

The loan was interest free and had no fixed date for repayment.