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REGISTERED NUMBER: 05037898













DEVESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2024






DEVESTATES LIMITED (REGISTERED NUMBER: 05037898)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DEVESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2024







DIRECTORS: Mr. J D Devonald
Miss L H Devonald
Mr. R T Johns





REGISTERED OFFICE: 56 Charles Street
Cardiff
CF10 2GG





REGISTERED NUMBER: 05037898





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

DEVESTATES LIMITED (REGISTERED NUMBER: 05037898)

STATEMENT OF FINANCIAL POSITION
28TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 220 275
Investments 5 3,089,747 3,089,747
Investment property 6 404,546 404,546
3,494,513 3,494,568

CURRENT ASSETS
Debtors 7 695,406 639,828
Cash at bank 12,489 53,020
707,895 692,848
CREDITORS
Amounts falling due within one year 8 292,686 141,735
NET CURRENT ASSETS 415,209 551,113
TOTAL ASSETS LESS CURRENT LIABILITIES 3,909,722 4,045,681

CREDITORS
Amounts falling due after more than one year 9 4,108 206,560
NET ASSETS 3,905,614 3,839,121

CAPITAL AND RESERVES
Called up share capital 10 1 1
Fair value reserve 11 3,077,194 3,077,194
Retained earnings 828,419 761,926
SHAREHOLDERS' FUNDS 3,905,614 3,839,121

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

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

DEVESTATES LIMITED (REGISTERED NUMBER: 05037898)

STATEMENT OF FINANCIAL POSITION - continued
28TH FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th November 2024 and were signed on its behalf by:





Mr. J D Devonald - Director


DEVESTATES LIMITED (REGISTERED NUMBER: 05037898)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2024


1. STATUTORY INFORMATION

Devestates Limited is a private company, limited by shares , registered in Not specified/Other. 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 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.

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

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

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st March 2023
and 28th February 2024 5,000
DEPRECIATION
At 1st March 2023 4,725
Charge for year 55
At 28th February 2024 4,780
NET BOOK VALUE
At 28th February 2024 220
At 28th February 2023 275

DEVESTATES LIMITED (REGISTERED NUMBER: 05037898)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st March 2023
and 28th February 2024 3,089,747
NET BOOK VALUE
At 28th February 2024 3,089,747
At 28th February 2023 3,089,747

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2023
and 28th February 2024 404,546
NET BOOK VALUE
At 28th February 2024 404,546
At 28th February 2023 404,546

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 695,406 639,828

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,014 3,126
Taxation and social security 20,908 24,317
Other creditors 268,764 114,292
292,686 141,735

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,108 206,560

10. CALLED UP SHARE CAPITAL

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

DEVESTATES LIMITED (REGISTERED NUMBER: 05037898)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2024


11. RESERVES
Fair
value
reserve
£   
At 1st March 2023
and 28th February 2024 3,077,194

12. RELATED PARTY DISCLOSURES

At the balance sheet date £89,834 (2023 - £82,802) was owed by Crockherbtown Estates Limited, a subsidiary of Devestates Limited. The balance is repayable on demand and is charged at an interest rate of 3.5% above base rate per annum.

At the balance sheet date £98,210 (2023 - £90,522) was owed by MC295 Limited, a subsidiary of Devestates Limited. The balance is repayable on demand and is charged at an interest rate of 3.5% above base rate per annum.

At the balance sheet date £506,124 (2023 - £466,504) was owed by MC199 Limited, a company in which Mr. J.D. Devonald is a director and shareholder. The balance is repayable on demand and is charged at an interest rate of 3.5% above base rate per annum.