CASTLE DEVELOPMENTS (DEVON) LTD

Company Registration Number:
10975742 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

CASTLE DEVELOPMENTS (DEVON) LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

CASTLE DEVELOPMENTS (DEVON) LTD

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Current assets
Stocks: 636,800 720,202
Debtors:   8,267 2,449
Cash at bank and in hand: 741 3
Total current assets: 645,808 722,654
Creditors: amounts falling due within one year: 3 (511,184) (437,150)
Net current assets (liabilities): 134,624 285,504
Total assets less current liabilities: 134,624 285,504
Creditors: amounts falling due after more than one year:     (47,325)
Total net assets (liabilities): 134,624 238,179
Capital and reserves
Called up share capital: 133 133
Share premium account: 24,967 24,967
Profit and loss account: 109,524 213,079
Shareholders funds: 134,624 238,179

The notes form part of these financial statements

CASTLE DEVELOPMENTS (DEVON) LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 October 2024
and signed on behalf of the board by:

Name: Rob Withecombe
Status: Director

The notes form part of these financial statements

CASTLE DEVELOPMENTS (DEVON) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

CASTLE DEVELOPMENTS (DEVON) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

CASTLE DEVELOPMENTS (DEVON) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Creditors: amounts falling due within one year note

Creditors due within one year include a loan to Swanmoor Limited, a company controlled by Rob Withecombe a Director and shareholder. The balance at the year end amounted to £174,572 and was repaid in 2024. Creditors also included a loan from Exeter Finance Limited who took a charge over the company's assets as security. The loan amounted to £293,149 at the year end and was also repaid in 2024. Creditors also included a Bounce Back Loan from Santander Bank and the balance at the year end was £37,994.

CASTLE DEVELOPMENTS (DEVON) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Related party transactions

Name of the related party: Swanmoor Limited
Relationship:
Provision of finance
Description of the Transaction: During the course of the year, Swanmoor Limited a company wholly owned by Rob Withecombe, Director, made working capital loans to the company on which interest accrues at 10% pa
£
Balance at 01 January 2023 44,924
Balance at 31 December 2023 174,572
Name of the related party: Swanmoor Limited
Relationship:
Consultant
Description of the Transaction: During the course of the year, Swanmoor Limited, a company wholly owned by Rob Withecombe, Director, provided consultancy services to the company amounting to £1,221.
£
Balance at 01 January 2023 4,000
Balance at 31 December 2023 0
Name of the related party: W T Young & Sons
Relationship:
Supplier of building services
Description of the Transaction: During the course of the year, WT Young & Sons an unincorporated business owned by Martin Young, Director, supplied services to the company on an arms length basis. During the year, WT Young & sons invoiced £265,834 for labour and materials to the company and a further £40,470 was invoiced after the year end with respect to services supplied in the period to May 2023. At the year end, there was a balance due to the company of £1,262 (prior year £68,098 as disclosed in the note to the accounts for the year ended 31 December 2022).
£
Balance at 01 January 2023 68,098
Balance at 31 December 2023 1,262