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REGISTERED NUMBER: 09337150 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Sub Developments Limited

Sub Developments Limited (Registered number: 09337150)






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


Sub Developments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N A Marlow
A D Pease





REGISTERED OFFICE: The Stable Office
Illston Grange
Illston on the Hill
Leicestershire
LE7 9EA





REGISTERED NUMBER: 09337150 (England and Wales)





ACCOUNTANTS: Langham & Co
11 Lathkill Street
Market Harborough
Leicestershire
LE16 9EY

Sub Developments Limited (Registered number: 09337150)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 215,455 229,315
Investments 5 50 50
Investment property 6 - 408,235
215,505 637,600

CURRENT ASSETS
Stocks 927,796 831,761
Debtors 7 411,450 402,377
Cash at bank 12,814 17,605
1,352,060 1,251,743
CREDITORS
Amounts falling due within one year 8 575,789 1,035,289
NET CURRENT ASSETS 776,271 216,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

991,776

854,054

CREDITORS
Amounts falling due after more than one
year

9

(17,500

)

(27,500

)

PROVISIONS FOR LIABILITIES 10 (39,694 ) (41,705 )
NET ASSETS 934,582 784,849

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 934,580 784,847
SHAREHOLDERS' FUNDS 934,582 784,849

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.

Sub Developments Limited (Registered number: 09337150)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





A D Pease - Director


Sub Developments Limited (Registered number: 09337150)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Sub 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

Short leasehold - 16.67% on cost
Fixtures and fittings - 25% on cost
Plant and equipment - 10% on cost
Computer equipment - 25% on cost

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
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Sub Developments Limited (Registered number: 09337150)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 30,889 305,708 58,597 2,782 397,976
Additions - 28,596 - 3,923 32,519
At 31 December 2023 30,889 334,304 58,597 6,705 430,495
DEPRECIATION
At 1 January 2023 15,115 101,668 50,104 1,774 168,661
Charge for year 5,149 32,288 7,910 1,032 46,379
At 31 December 2023 20,264 133,956 58,014 2,806 215,040
NET BOOK VALUE
At 31 December 2023 10,625 200,348 583 3,899 215,455
At 31 December 2022 15,774 204,040 8,493 1,008 229,315

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 January 2023
and 31 December 2023 50
NET BOOK VALUE
At 31 December 2023 50
At 31 December 2022 50

Sub Developments Limited (Registered number: 09337150)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 408,235
Reclassification/transfer (408,235 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 408,235

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 26,660 20,852
Amounts owed by joint ventures 377,950 361,950
Other debtors 6,840 19,575
411,450 402,377

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 19,175 -
Taxation and social security 104,482 137,601
Other creditors 442,132 887,688
575,789 1,035,289

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 17,500 27,500

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 39,694 41,705

Deferred
tax
£   
Balance at 1 January 2023 41,705
Provided during year (2,011 )
Balance at 31 December 2023 39,694

Sub Developments Limited (Registered number: 09337150)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Retained
earnings
£   

At 1 January 2023 784,847
Profit for the year 149,733
At 31 December 2023 934,580

13. OTHER FINANCIAL COMMITMENTS

In respect of operating leases the company is committed to make payments as follows :-
Within the next year: £11,000 (2022: £11,000)
in 2-5 years: £2,750 (2022: £13,750)

14. RELATED PARTY DISCLOSURES

N A Marlow

During the year the company paid an amount of £60,000 (2022: £55,00) in respect of management fees to Bowden Properties Limited, a company in which Mr N A Marlow is a director. Included in other creditors is an interest free loan of £70,000 owed to Bowden Properties Limited, a company in which Mr N A Marlow is a director. At the balance sheet date, the company owed a director's loan of £80,999 (2022: £80,999) to Mr N A Marlow.

D Pease

During the year the company paid an amount of £97,185 (2022: £92,661) in respect of management fees to Alpha One Insurance Limited, a company in which Mr D Pease is a director. At the balance sheet date, the company owed a director's loan of £215,197 (2022: £475,197) to Mr D Pease.