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REGISTERED NUMBER: 02793130 (England and Wales)






















Unaudited Financial Statements

for the Period

30 January 2023 to 28 January 2024

for

Damon's (Developments) Limited

Damon's (Developments) Limited (Registered number: 02793130)






Contents of the Financial Statements
for the Period 30 January 2023 to 28 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Damon's (Developments) Limited

Company Information
for the Period 30 January 2023 to 28 January 2024







DIRECTORS: J E Foulston
S A Carey





REGISTERED OFFICE: 999 Doddington Road
Lincoln
Lincolnshire
LN6 3SE





REGISTERED NUMBER: 02793130 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Damon's (Developments) Limited (Registered number: 02793130)

Balance Sheet
28 January 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 1,151,591 1,348,941
Cash at bank 8 8
1,151,599 1,348,949
CREDITORS
Amounts falling due within one year 5 194,186 190,626
NET CURRENT ASSETS 957,413 1,158,323
TOTAL ASSETS LESS CURRENT
LIABILITIES

957,413

1,158,323

CAPITAL AND RESERVES
Called up share capital 6 2,000 2,000
Share premium 188,560 188,560
Retained earnings 766,853 967,763
SHAREHOLDERS' FUNDS 957,413 1,158,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 July 2024 and were signed on its behalf by:





S A Carey - Director


Damon's (Developments) Limited (Registered number: 02793130)

Notes to the Financial Statements
for the Period 30 January 2023 to 28 January 2024

1. STATUTORY INFORMATION

Damon's (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.

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.

The company ceased trading on 24 November 2019. As such, the accounts have not been prepared on a going concern basis but on a break-up basis, assuming all assets in hand are recoverable at their carrying value and that all debtors are recoverable.

Taxation
Taxation for the period 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.

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 period 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.

Defined contribution benefit schemes
The costs arising on the company's defined contribution scheme is recognised in the Income Statement in the period in which the related service is provided. The company has no legal or constructive obligation to pay further contributions in the event that these plans do not hold sufficient assets to provide retirement benefit.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 1,149,118 1,346,468
Other debtors 2,473 2,473
1,151,591 1,348,941

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 40,000 -
Taxation and social security 153,336 189,836
Other creditors 850 790
194,186 190,626

Damon's (Developments) Limited (Registered number: 02793130)

Notes to the Financial Statements - continued
for the Period 30 January 2023 to 28 January 2024

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £1 2,000 2,000

7. CONTINGENT LIABILITIES

The company is party to a cross guarantee across the group of which it is a member and covers the parent company, Damon's Holdings Limited and its fellow subsidiaries, Damon's Restaurants (UK) Limited and Damon's Motel Limited.

The total borrowings of the above entities to which this guarantee refers amounted to £1,055,500 as at 29 January 2023 (2023: £331,510).

8. RELATED PARTY DISCLOSURES

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.

9. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The ultimate parent undertaking is Damon's (Holdings) Limited.

The ultimate controlling party is J E Foulston.