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Company registration number: 11802931
DWE Developments Limited
Unaudited filleted financial statements
31 March 2024
DWE Developments Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
DWE Developments Limited
Directors and other information
Director Mr David Wyn Evans
Company number 11802931
Registered office Cae Isa
Tan y Maes
Y Felinheli
Gwynedd
LL56 4UQ
Business address Cae Isa
Tan y Maes
Y Felinheli
Gwynedd
LL56 4UQ
Accountants W J Matthews & Son
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
DWE Developments Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of DWE Developments Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DWE Developments Limited for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of DWE Developments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of DWE Developments Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DWE Developments Limited and its director as a body for our work or for this report.
It is your duty to ensure that DWE Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of DWE Developments Limited. You consider that DWE Developments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of DWE Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
W J Matthews & Son
Chartered Accountants
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
22 November 2024
DWE Developments Limited
Statement of financial position
31 March 2024
Note £ £ £ £
Current assets
Debtors 4 210 359,317
Cash at bank and in hand 305,164 15,247
_______ _______
305,374 374,564
Creditors: amounts falling due
within one year 5 ( 192,995) ( 261,941)
_______ _______
Net current assets 112,379 112,623
_______ _______
Total assets less current liabilities 112,379 112,623
_______ _______
Net assets 112,379 112,623
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 112,369 112,613
_______ _______
Shareholders funds 112,379 112,623
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 November 2024 , and are signed on behalf of the board by:
Mr David Wyn Evans
Director
Company registration number: 11802931
DWE Developments Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wakes. The address of the registered office is Cae Isa, Tan y Maes, Y Felinheli, Gwynedd, LL56 4UQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
4. Debtors
£ £
Other debtors 210 359,317
_______ _______
5. Creditors: amounts falling due within one year
£ £
Bank loans and overdrafts 94,695 137,495
Corporation tax - 26,446
Other creditors 98,300 98,000
_______ _______
192,995 261,941
_______ _______
6. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
Year Period Year Period
ended ended ended ended
£ £ £ £
DW Evans Builders Limited - - (97,500) (97,500)
_______ _______ _______ _______
The company has received a loan of £97,500 from DW Evans Builders Limited. Mr DW Evans is a director and shareholder of both companies.
7. Controlling party
The company has no ultimate controlling party.