3 3 Devono Installations Ltd 04858424 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is in the period under review was that of installation services. Digita Accounts Production Advanced 6.30.9574.0 true 04858424 2023-04-01 2024-03-31 04858424 2024-03-31 04858424 core:CurrentFinancialInstruments 2024-03-31 04858424 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04858424 core:MotorVehicles 2024-03-31 04858424 core:OfficeEquipment 2024-03-31 04858424 core:PlantMachinery 2024-03-31 04858424 bus:SmallEntities 2023-04-01 2024-03-31 04858424 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04858424 bus:FilletedAccounts 2023-04-01 2024-03-31 04858424 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04858424 bus:RegisteredOffice 2023-04-01 2024-03-31 04858424 bus:Director1 2023-04-01 2024-03-31 04858424 bus:Director2 2023-04-01 2024-03-31 04858424 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04858424 bus:Agent1 2023-04-01 2024-03-31 04858424 core:ComputerEquipment 2023-04-01 2024-03-31 04858424 core:MotorVehicles 2023-04-01 2024-03-31 04858424 core:OfficeEquipment 2023-04-01 2024-03-31 04858424 core:PlantMachinery 2023-04-01 2024-03-31 04858424 countries:EnglandWales 2023-04-01 2024-03-31 04858424 2023-03-31 04858424 core:MotorVehicles 2023-03-31 04858424 core:OfficeEquipment 2023-03-31 04858424 core:PlantMachinery 2023-03-31 04858424 2022-04-01 2023-03-31 04858424 2023-03-31 04858424 core:CurrentFinancialInstruments 2023-03-31 04858424 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04858424 core:MotorVehicles 2023-03-31 04858424 core:OfficeEquipment 2023-03-31 04858424 core:PlantMachinery 2023-03-31 xbrli:pure iso4217:GBP

Registration number: 04858424

Devono Installations Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Devono Installations Ltd

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Unaudited Financial Statements

4 to 8

 

Devono Installations Ltd

Company Information

Directors

M I Devonport

G Onofrio

Registered office

10 Cheviot Close
South Sutton
Surrey
SM2 5SB

Accountants

DSK Partners LLP
Chartered AccountantsD S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Devono Installations Ltd
for the 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 accounts of Devono Installations Ltd for the year ended 31 March 2024 as set out on pages 3 to 8 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/regulation.

This report is made solely to the Board of Directors of Devono Installations Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Devono Installations Ltd and state those matters that we have agreed to state to the Board of Directors of Devono Installations Ltd, 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 Devono Installations Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Devono Installations Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Devono Installations Ltd. You consider that Devono Installations Ltd 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 accounts of Devono Installations Ltd. 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 accounts.

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

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

9 January 2025

 

Devono Installations Ltd

(Registration number: 04858424)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,428

5,771

Current assets

 

Debtors

5

115,657

300,230

Cash at bank and in hand

 

142,398

15,889

 

258,055

316,119

Creditors: Amounts falling due within one year

6

(51,454)

(82,028)

Net current assets

 

206,601

234,091

Total assets less current liabilities

 

211,029

239,862

Provisions for liabilities

(841)

(1,096)

Net assets

 

210,188

238,766

Capital and reserves

 

Called up share capital

20

20

Retained earnings

210,168

238,746

Shareholders' funds

 

210,188

238,766

For the financial 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.

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 and 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 directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 9 January 2025 and signed on its behalf by:
 

M I Devonport
Director

   
     
 

Devono Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
10 Cheviot Close
South Sutton
Surrey
SM2 5SB

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 (£) rounded to the nearest Pound.

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.

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.

 

Devono Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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 statement of financial position 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

Plant and machinery

25% Reducing balance

Office equipment

15% Reducing balance

Motor Vehicles

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Devono Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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 Income Statement 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assest, financial liabilities, or equity instruments. An equity instruments is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Devono Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

11,639

2,932

19,172

33,743

At 31 March 2024

11,639

2,932

19,172

33,743

Depreciation

At 1 April 2023

9,963

2,250

15,759

27,972

Charge for the year

419

71

853

1,343

At 31 March 2024

10,382

2,321

16,612

29,315

Carrying amount

At 31 March 2024

1,257

611

2,560

4,428

At 31 March 2023

1,676

682

3,413

5,771

 

Devono Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Debtors

2024
£

2023
£

Trade debtors

112,428

296,141

Prepayments

2,019

2,682

Other debtors

1,210

1,407

115,657

300,230

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

530

668

Taxation and social security

16,838

34,474

Accruals and deferred income

3,850

3,850

Other creditors

30,236

43,036

51,454

82,028