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REGISTERED NUMBER: 02472006 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Devon Conversions Limited

Devon Conversions Limited (Registered number: 02472006)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Devon Conversions Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: P J Gowland
H A Gowland





SECRETARY: H A Gowland





REGISTERED OFFICE: Mainsforth Road
Ferryhill
Co Durham
DL17 9DE





REGISTERED NUMBER: 02472006 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Devon Conversions Limited (Registered number: 02472006)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,913 6,550

CURRENT ASSETS
Stocks 1,077,920 1,051,476
Debtors 5 15,784 15,649
Cash at bank and in hand 724,308 493,509
1,818,012 1,560,634
CREDITORS
Amounts falling due within one year 6 806,832 415,556
NET CURRENT ASSETS 1,011,180 1,145,078
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,016,093

1,151,628

CAPITAL AND RESERVES
Called up share capital 8 26,000 26,000
Retained earnings 990,093 1,125,628
SHAREHOLDERS' FUNDS 1,016,093 1,151,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2024 and were signed on its behalf by:





H A Gowland - Director


Devon Conversions Limited (Registered number: 02472006)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

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

There were no material departures from the standard.

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

Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those conducted under normal market conditions.

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

Income recognition
Income is recognised at the point at which the risks and rewards of the goods are transferred to the customer, usually on delivery of goods to the customer.

Turnover from the provision of services is recognised at the point of the service having been provided.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Stocks
Stocks are valued at the lower of selling price less estimated costs to sell, after making due allowance for obsolete and slow moving items.

Work in progress is valued at the lower of: direct cost of production plus attributable overheads based on normal levels of activity, or selling price less estimated costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.


Devon Conversions Limited (Registered number: 02472006)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

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.

Operating lease rentals
Rentals payable under operating leases are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023
and 31 January 2024 64,241 552 6,400 12,093 83,286
DEPRECIATION
At 1 February 2023 57,716 527 6,400 12,093 76,736
Charge for year 1,631 6 - - 1,637
At 31 January 2024 59,347 533 6,400 12,093 78,373
NET BOOK VALUE
At 31 January 2024 4,894 19 - - 4,913
At 31 January 2023 6,525 25 - - 6,550

Devon Conversions Limited (Registered number: 02472006)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 15,784 15,649

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 152,978 138,269
Amounts owed to group undertakings 413,049 23,029
Taxation and social security 137,795 102,799
Other creditors 984 949
Payments on account 80,215 145,699
Director's current account 611 611
Accruals and deferred income 21,200 4,200
806,832 415,556

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 75,200 75,200

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
26,000 Ordinary £1 26,000 26,000

9. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.

2024 2023
£ £
Amounts due to directors 611 611
No interest has been charged.

10. ULTIMATE PARENT COMPANY

The ultimate parent company is PHG Holdings Durham Limited, a company incorporated in England.
The registered office is Mainsforth Road, Ferryhill, County Durham, DL17 9DE.