Detailed Developments SW Limited 13261055 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Manufacture of other builders' carpentry and joinery, development of building projects Digita Accounts Production Advanced 6.30.9574.0 true 13261055 2023-03-01 2024-02-29 13261055 2024-02-29 13261055 bus:Director1 1 2024-02-29 13261055 core:RetainedEarningsAccumulatedLosses 2024-02-29 13261055 core:ShareCapital 2024-02-29 13261055 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-02-29 13261055 core:CurrentFinancialInstruments 2024-02-29 13261055 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 13261055 core:FurnitureFittingsToolsEquipment 2024-02-29 13261055 core:MotorVehicles 2024-02-29 13261055 core:OtherPropertyPlantEquipment 2024-02-29 13261055 bus:SmallEntities 2023-03-01 2024-02-29 13261055 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13261055 bus:FilletedAccounts 2023-03-01 2024-02-29 13261055 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13261055 bus:RegisteredOffice 2023-03-01 2024-02-29 13261055 bus:Director1 2023-03-01 2024-02-29 13261055 bus:Director1 1 2023-03-01 2024-02-29 13261055 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13261055 core:ComputerEquipment 2023-03-01 2024-02-29 13261055 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 13261055 core:MotorVehicles 2023-03-01 2024-02-29 13261055 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 13261055 core:ToolsEquipment 2023-03-01 2024-02-29 13261055 countries:EnglandWales 2023-03-01 2024-02-29 13261055 2023-02-28 13261055 bus:Director1 1 2023-02-28 13261055 core:FurnitureFittingsToolsEquipment 2023-02-28 13261055 core:MotorVehicles 2023-02-28 13261055 core:OtherPropertyPlantEquipment 2023-02-28 13261055 2022-03-01 2023-02-28 13261055 2023-02-28 13261055 bus:Director1 1 2023-02-28 13261055 core:RetainedEarningsAccumulatedLosses 2023-02-28 13261055 core:ShareCapital 2023-02-28 13261055 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-02-28 13261055 core:CurrentFinancialInstruments 2023-02-28 13261055 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13261055 core:FurnitureFittingsToolsEquipment 2023-02-28 13261055 core:MotorVehicles 2023-02-28 13261055 core:OtherPropertyPlantEquipment 2023-02-28 13261055 bus:Director1 1 2022-03-01 2023-02-28 13261055 bus:Director1 1 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 13261055

Detailed Developments SW Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Detailed Developments SW Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Detailed Developments SW Limited

Company Information

Director

Mr J M Holgate

Registered office

19 Lyndhurst Road
Weston-super-Mare
North Somerset
BS23 4JX

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

 

Detailed Developments SW Limited

(Registration number: 13261055)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

26,030

17,359

Current assets

 

Stocks

5

500

475

Debtors

6

140,231

41,657

Cash at bank and in hand

 

6,389

13,647

 

147,120

55,779

Creditors: Amounts falling due within one year

7

(135,033)

(56,469)

Net current assets/(liabilities)

 

12,087

(690)

Total assets less current liabilities

 

38,117

16,669

Provisions for liabilities

(4,946)

(3,298)

Net assets

 

33,171

13,371

Capital and reserves

 

Called up share capital

1

1

Retained earnings

33,170

13,370

Shareholders' funds

 

33,171

13,371

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Detailed Developments SW Limited

(Registration number: 13261055)
Balance Sheet as at 29 February 2024

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 November 2024
 

.........................................
Mr J M Holgate
Director

 

Detailed Developments SW Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 of the financial statements is Pound Sterling (£).

The company was dormant last year and therefore there are minimal comparative's.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Detailed Developments SW Limited

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

2

Accounting policies (continued)

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.

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

Motor vehicles

20% Reducing balance

Computer equipment

33% Straight line

Tools and equipment

15% Reducing balance

 

Detailed Developments SW Limited

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

2

Accounting policies (continued)

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Detailed Developments SW Limited

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Comnputer equipment
£

Motor vehicles
 £

Tools and equipment
£

Total
£

Cost or valuation

At 1 March 2023

1,649

17,000

-

18,649

Additions

-

15,416

3,123

18,539

At 29 February 2024

1,649

32,416

3,123

37,188

Depreciation

At 1 March 2023

545

3,400

468

4,413

Charge for the year

544

5,803

398

6,745

At 29 February 2024

1,089

9,203

866

11,158

Carrying amount

At 29 February 2024

560

23,213

2,257

26,030

At 28 February 2023

1,104

13,600

2,655

17,359

 

Detailed Developments SW Limited

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

5

Stocks

2024
£

2023
£

Stocks

500

475

6

Debtors

Current

2024
£

2023
£

Trade debtors

93,499

29,916

Prepayments

200

242

Other debtors

46,532

11,499

 

140,231

41,657

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

13,499

-

Trade creditors

 

41,328

26,390

Taxation and social security

 

53,800

22,751

Accruals and deferred income

 

7,328

7,328

Other creditors

 

19,078

-

 

135,033

56,469

 

Detailed Developments SW Limited

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

8

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr J M Holgate

Director's loan account

11,499

156,280

(121,247)

46,532

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr J M Holgate

Director's loan account

-

102,523

(91,024)

11,499


The loan is repayable on demand. Interest has been paid at the official interest rate. No s455 tax has been provided as the loan has been repaid within 9 months of the year end.

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

13,499

-