1 January 2023 v2024.43.2 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP049412882023-01-012023-12-31049412882023-12-31049412882022-12-3104941288core:WithinOneYear2023-12-3104941288core:WithinOneYear2022-12-3104941288core:AfterOneYear2023-12-3104941288core:AfterOneYear2022-12-3104941288core:ShareCapital2023-12-3104941288core:ShareCapital2022-12-3104941288core:RetainedEarningsAccumulatedLosses2023-12-3104941288core:RetainedEarningsAccumulatedLosses2022-12-3104941288bus:Director12023-01-012023-12-3104941288bus:RegisteredOffice2023-01-012023-12-3104941288core:OfficeEquipment2023-01-012023-12-3104941288core:MotorVehicles2023-01-012023-12-31049412882022-01-012022-12-3104941288core:PlantMachinery2023-01-0104941288core:PlantMachinery2023-01-012023-12-3104941288core:PlantMachinery2023-12-3104941288core:PlantMachinery2022-12-310494128812023-01-012023-12-3104941288countries:EnglandWales2023-01-012023-12-3104941288bus:AuditExemptWithAccountantsReport2023-01-012023-12-3104941288bus:PrivateLimitedCompanyLtd2023-01-012023-12-3104941288bus:SmallEntities2023-01-012023-12-3104941288bus:FullAccounts2023-01-012023-12-31
Company registration number:
04941288
Devlin (Lincs) Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2023
Devlin (Lincs) Limited
Statement of Financial Position
31 December 2023
20232022
Note££
Fixed assets    
Tangible assets 5
10,871
 
12,768
 
Current assets    
Stocks
2,500
 
1,500
 
Debtors 6
818,932
 
537,872
 
Cash at bank and in hand
1
 
50,490
 
821,433
 
589,862
 
Creditors: amounts falling due within one year 7
(740,918
)
(433,414
)
Net current assets
80,515
 
156,448
 
Total assets less current liabilities 91,386   169,216  
Creditors: amounts falling due after more than one year 8
(43,333
)
(74,081
)
Provisions for liabilities
(2,271
)
(2,717
)
Net assets
45,782
 
92,418
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
45,780
 
92,416
 
Shareholders funds
45,782
 
92,418
 
For the year ending
31 December 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
26 September 2024
, and are signed on behalf of the board by:
S Devlin
Director
Company registration number:
04941288
Devlin (Lincs) Limited
Notes to the Financial Statements
Year ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Hillside Cottage Main Road
,
South Reston
,
Louth
,
Lincolnshire
,
LN11 8JQ
.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services supplied, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
15% reducing balance & 33% straight line
Motor vehicles
25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
25
(2022:
20
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2023
59,230
 
Additions
4,462
 
At
31 December 2023
63,692
 
Depreciation  
At
1 January 2023
46,462
 
Charge
6,359
 
At
31 December 2023
52,821
 
Carrying amount  
At
31 December 2023
10,871
 
At 31 December 2022
12,768
 

6 Debtors

20232022
££
Trade debtors
288,104
 
200,790
 
Other debtors
530,828
 
337,082
 
818,932
 
537,872
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
10,175
 
10,000
 
Trade creditors
119,202
 
50,061
 
Taxation and social security
556,615
 
327,727
 
Other creditors
54,926
 
45,626
 
740,918
 
433,414
 
Barclays Bank have a fixed and floating charge over the assets of the company.

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
14,167
 
30,331
 
Other creditors
29,166
 
43,750
 
43,333
 
74,081
 
Barclays Bank have a fixed and floating charge over the assets of the company.

9 Directors' advances, credit and guarantees

Included in debtors is a balance due from the director(s) of £188,661 (2023 - £-3788), advances during the period amount to £367,087 (2023 - £288,264), repayments during the period amount to £174,638 (2023 - £370,552). The loan is subject to interest at HMRC approved rates and is repayable on demand.