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REGISTERED NUMBER: 02029956 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Deval Limited

Deval Limited (Registered number: 02029956)






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


Deval Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D B Hutchins
N Hutchins





REGISTERED OFFICE: Unit 7
Somerford Business Park
Wilverley Road
Christchurch
Dorset
BH23 3RU





REGISTERED NUMBER: 02029956 (England and Wales)

Deval Limited (Registered number: 02029956)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 900,277 540,593

CURRENT ASSETS
Stocks 324,405 444,168
Debtors 5 174,881 421,915
Cash at bank and in hand 899,702 889,657
1,398,988 1,755,740
CREDITORS
Amounts falling due within one year 6 (155,173 ) (286,672 )
NET CURRENT ASSETS 1,243,815 1,469,068
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,144,092

2,009,661

PROVISIONS FOR LIABILITIES (43,568 ) (39,831 )
NET ASSETS 2,100,524 1,969,830

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 7 2,100,324 1,969,630
2,100,524 1,969,830

Deval Limited (Registered number: 02029956)

Balance Sheet - continued
31 December 2023


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.

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 26 September 2024 and were signed on its behalf by:





D B Hutchins - Director


Deval Limited (Registered number: 02029956)

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

1. STATUTORY INFORMATION

Deval 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.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities.Turnover is shown net of sales/value added tax,returns,rebates and discounts.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible assets are stated in the balance sheet at cost,less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation
Depreciation is charged so as to write off the cost of assets,other then land and properties under construction over their estimated useful lief, as follows:

Asset classDepreciation method and rate
Freehold property0.50% on reducing balance
Property improvements 0.50% on reducing balance
Plant & Machinery15% on reducing balance
Fixtures & Fittings15% on reducing balance
Motor vehicles25% on reducing balance
Letting caravan15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks 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.


Deval Limited (Registered number: 02029956)

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

2. 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.

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.

TRADE DEBTORS
Trade debtors are amount due from customers for merchandise sold or service performed in the ordinary course of business.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-current liabilities.

DIVIDEND
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statement in the reporting period in which the dividends are declared.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 38 ) .

Deval Limited (Registered number: 02029956)

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2023 211,174 84,371 478,256
Additions 349,104 - 44,404
Disposals - - (17,810 )
At 31 December 2023 560,278 84,371 504,850
DEPRECIATION
At 1 January 2023 7,280 2,432 342,213
Charge for year 2,403 409 27,984
At 31 December 2023 9,683 2,841 370,197
NET BOOK VALUE
At 31 December 2023 550,595 81,530 134,653
At 31 December 2022 203,894 81,939 136,043

Fixtures
and Motor Letting
fittings vehicles caravan Totals
£    £    £    £   
COST
At 1 January 2023 65,090 52,683 59,041 950,615
Additions 1,096 34,016 319 428,939
Disposals - - - (17,810 )
At 31 December 2023 66,186 86,699 59,360 1,361,744
DEPRECIATION
At 1 January 2023 36,773 4,939 16,385 410,022
Charge for year 4,412 9,791 6,446 51,445
At 31 December 2023 41,185 14,730 22,831 461,467
NET BOOK VALUE
At 31 December 2023 25,001 71,969 36,529 900,277
At 31 December 2022 28,317 47,744 42,656 540,593

Deval Limited (Registered number: 02029956)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 92,865 399,638
Other debtors 66,501 4,192
Credit card 898 -
Prepayments and accrued income 14,617 18,085
174,881 421,915

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 51,622 71,208
Pension 1,833 2,052
Corporation tax 60,482 112,721
Social security and other tax 15,013 16,427
VAT 22,213 71,431
Directors' current accounts - 9,110
Accruals and deferred income 4,010 3,723
155,173 286,672

7. RESERVES
Retained
earnings
£   

At 1 January 2023 1,969,630
Profit for the year 173,694
Dividends (43,000 )
At 31 December 2023 2,100,324

8. DIVIDENDS

2023 2022
£    £   
Interim dividend of £215 (2022 - £215) per ordinary share 43,000 43000


9. SHARE CAPITAL

Allotted, called up and fully paid shares
2023 2022
No. £    No. £   

Ordinary shares of £1 each 200 200 200 200