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REGISTERED NUMBER: 13840672 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

NUMBER TWO DEVELOPMENT LIMITED

NUMBER TWO DEVELOPMENT LIMITED (REGISTERED NUMBER: 13840672)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NUMBER TWO DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mr N P Briant





SECRETARY: Mr N P Briant





REGISTERED OFFICE: 2 Widdicombe Avenue
Poole
Dorset
BH14 9QW





REGISTERED NUMBER: 13840672 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

NUMBER TWO DEVELOPMENT LIMITED (REGISTERED NUMBER: 13840672)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 703,560 700,000

CURRENT ASSETS
Debtors 5 58,195 45,634
Cash at bank 498 3,143
58,693 48,777
CREDITORS
Amounts falling due within one year 6 248,757 242,517
NET CURRENT LIABILITIES (190,064 ) (193,740 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

513,496

506,260

CREDITORS
Amounts falling due after more than one year 7 481,950 481,950
NET ASSETS 31,546 24,310

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 9 9,385 9,385
Retained earnings 22,160 14,924
31,546 24,310

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 director acknowledges his 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.

NUMBER TWO DEVELOPMENT LIMITED (REGISTERED NUMBER: 13840672)

BALANCE SHEET - continued
31 JANUARY 2024


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 director and authorised for issue on 18 October 2024 and were signed by:





Mr N P Briant - Director


NUMBER TWO DEVELOPMENT LIMITED (REGISTERED NUMBER: 13840672)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Number Two Development 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 (£) which is rounded to the nearest Pound (£).

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 as modified by the revaluation of certain assets.

Going Concern
These financial statements have been prepared on the going concern basis. The directors and shareholders have reviewed the state of the business and confirmed that their support will remain in place for the foreseeable future, therefore it is the directors' opinion that the business remains a going concern.

When considering the foreseeable future, the directors are looking at a period of at least 12 months from the date the balance sheet is signed.

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

Turnover relates to holiday letting income and is recognised when the agreed period of letting occurs. In the event that the letting period spans the period end, turnover is calculated on a daily basis and allocated in accordance with the period in which the property is occupied.

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.

The fair value of the investment property has been arrived at on the basis of a valuation as at 31 January 2023 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.


NUMBER TWO DEVELOPMENT LIMITED (REGISTERED NUMBER: 13840672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 700,000
Additions 3,560
At 31 January 2024 703,560
NET BOOK VALUE
At 31 January 2024 703,560
At 31 January 2023 700,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2023 12,513
Cost 691,047
703,560

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 58,195 45,634

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 3,730 2,033
Other creditors 245,027 240,484
248,757 242,517

NUMBER TWO DEVELOPMENT LIMITED (REGISTERED NUMBER: 13840672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 481,950 481,950

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 481,950 481,950

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 481,950 481,950

The bank loans are secured via a fixed and floating charge over all property and undertakings of the company.

9. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 9,385

Transfer to non-distributable reserve
Gains or losses on fair value revaluations of investment property and associated deferred tax have been transferred from retained earnings to a specific non-distributable reserve.