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Registration number: 13899270

Developing and Building Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Developing and Building Limited

(Registration number: 13899270)

Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

4,369

3,442

Current assets

 

Stocks

4

8,662

7,957

Debtors

5

23,187

857

Cash at bank and in hand

 

20,843

24,423

 

52,692

33,237

Creditors: Amounts falling due within one year

6

(47,682)

(38,791)

Net current assets/(liabilities)

 

5,010

(5,554)

Total assets less current liabilities

 

9,379

(2,112)

Provisions for liabilities

(1,092)

-

Net assets/(liabilities)

 

8,287

(2,112)

Capital and reserves

 

Called up share capital

4

4

Profit and loss account

8,283

(2,116)

Shareholders' funds/(deficit)

 

8,287

(2,112)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Developing and Building Limited

(Registration number: 13899270)

Balance Sheet as at 29 February 2024

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 6 November 2024 and signed on its behalf by:
 

.........................................

Mr Daniel Joseph Boff
Director

 

Developing and Building Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

Accounting policies

Developing and Building Limited is a private company, limited by shares, domiciled in England and Wales, company number 13899270. The registered office is at 40 Warning Tongue Lane, Doncaster, South Yorkshire, DN4 6TD.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

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.

 

Developing and Building Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Depreciation

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

Asset class

Depreciation method and rate

Plant & machinery

20% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

3

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost

At 1 March 2023

2,010

616

1,250

3,876

Additions

-

2,289

-

2,289

At 29 February 2024

2,010

2,905

1,250

6,165

Depreciation

At 1 March 2023

201

77

156

434

Charge for the year

362

726

274

1,362

At 29 February 2024

563

803

430

1,796

Carrying amount

At 29 February 2024

1,447

2,102

820

4,369

At 28 February 2023

1,809

539

1,094

3,442

 

Developing and Building Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Stocks

2024
£

2023
£

Work in progress

8,662

7,957

5

Debtors

2024
£

2023
£

Trade debtors

23,186

-

Other debtors

1

857

23,187

857

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

-

4,812

Taxation and social security

13,496

1,232

Accruals and deferred income

2,689

1,250

Other creditors

31,497

31,497

47,682

38,791