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REGISTERED NUMBER: 00674932 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

DAWN DEVELOPMENTS LIMITED

DAWN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00674932)






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


DAWN DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: A G Macdonald
S H Rough
S McConnell
P O'Donnell



REGISTERED OFFICE: Pinsent Masons
1 Park Row
Leeds
LS1 5AB



REGISTERED NUMBER: 00674932 (England and Wales)



ACCOUNTANTS: McLay, McAlister & McGibbon (Ayr) Ltd
Arran House
15D Skye Road
Prestwick
Ayrshire
KA9 2TA



BANKERS: Bank of Scotland
Level 6
110 St Vincent Street
Glasgow
G2 5ER

DAWN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00674932)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 1,390,730 1,390,780
1,390,730 1,390,780

CURRENT ASSETS
Stocks 6 3,233,623 3,464,963
Debtors 7 2,937,555 3,368,922
Cash at bank 243,240 695,002
6,414,418 7,528,887
CREDITORS
Amounts falling due within one year 8 6,364,124 7,658,875
NET CURRENT ASSETS/(LIABILITIES) 50,294 (129,988 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,441,024

1,260,792

CAPITAL AND RESERVES
Called up share capital 1,295 1,295
Share premium 187,261 187,261
Retained earnings 1,252,468 1,072,236
SHAREHOLDERS' FUNDS 1,441,024 1,260,792

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 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.

DAWN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00674932)

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 Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





S H Rough - Director


DAWN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00674932)

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

1. STATUTORY INFORMATION

Dawn 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Dawn Developments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
Key sources of estimation uncertainty

The company make judgements, estimates and assumptions about the carrying amounts of assets and liabilities based on historical experience and other relevant factors and are reviewed on an ongoing basis. Actual outcomes may differ from these estimates. The estimates that have the most significant effect on the amounts recognised in the financial statements are as follows:

Valuation of Work in Progress

Development work in progress is stated at the lower of cost and net realisable value. Net realisable value is based on estimated selling price less the estimated costs of completion and disposal assuming where appropriate that the site will be fully developed and sold in the ordinary course of business. Whilst there is a degree of uncertainty in these estimates, reviews to monitor are carried out regularly.

Basic financial instruments
Trade and other debtors/creditors are recognised initially at transaction price. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, where payment is deferred beyond normal business terms, it is measured at present value of future payments discounted at an appropriate market rate of interest.

Turnover
Turnover represents the amount derived from the provision of goods and services falling within the company's activities stated net of value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

DAWN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00674932)

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

2. ACCOUNTING POLICIES - continued

Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value. Work in progress consists of all land and building project costs on property developments held for eventual resale. The cost of work in progress includes all production overheads and depreciation and the attributable proportion of indirect overheads based on the normal level of activity and where applicable the cost of specific finance. Net realisable value is based on estimated selling price less the estimated costs of completion and disposal assuming where appropriate that sites will be fully developed and sold in the ordinary course of business. Profit on development sales is recognised on completion of the sale of individual properties.

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.

Taxation
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
Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


Fixed asset investments
These are stated at the lower of cost or directors' valuation. Provisions are made where necessary to reflect any permanent impairment in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

DAWN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00674932)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2023
and 31 January 2024 56,980
DEPRECIATION
At 1 February 2023
and 31 January 2024 56,980
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. FIXED ASSET INVESTMENTS

31.1.24 31.1.23
£    £   
Shares in group undertakings 965,580 965,530
Participating interests 400,150 400,250
Other investments not loans 25,000 25,000
1,390,730 1,390,780

Additional information is as follows:
Shares in Interest Interest
group in joint in
undertakings venture associate Totals
£    £    £    £   
COST
At 1 February 2023 965,530 250 400,000 1,365,780
Disposals - (50 ) - (50 )
Reclassification/transfer 50 (50 ) - -
At 31 January 2024 965,580 150 400,000 1,365,730
NET BOOK VALUE
At 31 January 2024 965,580 150 400,000 1,365,730
At 31 January 2023 965,530 250 400,000 1,365,780

Investments (neither listed nor unlisted) were as follows:
31.1.24 31.1.23
£    £   
Other investments 25,000 25,000

DAWN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00674932)

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

6. STOCKS
31.1.24 31.1.23
£    £   
Work-in-progress 3,233,623 3,464,963

Work in progress comprises project costs on development sites held for eventual resale. There are no payments received to account on these balances.

7. DEBTORS
31.1.24 31.1.23
£    £   
Amounts falling due within one year:
Trade debtors 24,459 27,599
Amounts owed by group undertakings 759,936 1,256,719
Amounts owed by participating interests 2,115,299 2,060,532
Other debtors 37,731 23,942
2,937,425 3,368,792

Amounts falling due after more than one year:
Deferred share consideration 130 130

Aggregate amounts 2,937,555 3,368,922

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 1,147 14,294
Amounts owed to group undertakings 610 534,298
Amounts owed to participating interests - 50
Tax 45,397 23,529
Social security and other taxes 72,116 19,227
Other creditors 4,220,007 5,130,083
Amounts owed to related companies 1,994,987 1,903,720
Accruals and deferred income 29,860 33,674
6,364,124 7,658,875

9. RELATED PARTY DISCLOSURES

At the year end interest free loan balances of £4,214,095 (2023 - £5,116,826) were owed to the participators. There are no fixed repayment terms.

10. ULTIMATE CONTROLLING PARTY

The directors consider DDev Holdings Limited to be the ultimate holding company. The company's registered address is 204 West George Street, Glasgow.

The director Alan G. Macdonald held the majority of the issued ordinary share capital of this company throughout the year.