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Deryn Properties (Development) Limited

Financial Statements for the Year Ended 31 July 2024






Deryn Properties (Development) Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: J N Leyland
D J Stacey
R Leyland





REGISTERED OFFICE: 1 Deryn Court
Pentwyn Business Centre
Wharfedale Road, Pentwyn
Cardiff
CF23 7HB





REGISTERED NUMBER: 08136268 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Deryn Properties (Development) Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Deryn Properties (Development) Limited for the year ended 31 July 2024 which comprise the Profit & Loss Account, Balance Sheet and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Deryn Properties (Development) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Deryn Properties (Development) Limited and state those matters that we have agreed to state to the Board of Directors of Deryn Properties (Development) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Deryn Properties (Development) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Deryn Properties (Development) 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 profit of Deryn Properties (Development) Limited. You consider that Deryn Properties (Development) 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 Deryn Properties (Development) 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.






BPU Limited
Chartered Accountants


15 January 2025

Deryn Properties (Development) Limited (Registered number: 08136268)

Balance Sheet
31 July 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment property 3 1,451,698 1,451,698

CURRENT ASSETS
Debtors 4 9,620 15,111
Cash at bank 176,605 180,480
186,225 195,591
CREDITORS
Amounts falling due within one year 5 80,786 85,980
NET CURRENT ASSETS 105,439 109,611
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,557,137

1,561,309

CREDITORS
Amounts falling due after more than
one year

6

(637,271

)

(670,315

)

PROVISIONS FOR LIABILITIES (152,000 ) (152,000 )
NET ASSETS 767,866 738,994

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Undistributable reserve 455,889 455,889
Retained earnings 310,977 282,105
SHAREHOLDERS' FUNDS 767,866 738,994

Deryn Properties (Development) Limited (Registered number: 08136268)

Balance Sheet - continued
31 July 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





J N Leyland - Director


Deryn Properties (Development) Limited (Registered number: 08136268)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. 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 as modified by the revaluation of certain assets.

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

Investment property
Some of the company's properties may be held as long term investments. The company will revalue the appropriate properties at open market value in accordance with Financial Reporting Standard 102.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Deryn Properties (Development) Limited (Registered number: 08136268)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


3. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 August 2023
and 31 July 2024 1,451,698
NET BOOK VALUE
At 31 July 2024 1,451,698
At 31 July 2023 1,451,698

Fair value at 31 July 2024 is represented by:
£
Valuation in 2017 607,889
Cost 843,809
1,451,698

The properties have been reassessed at an open market value at 31 July 2024 by the directors with the assistance of their professional property advisers.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 5,826 8,244
Other debtors & accrued income 3,794 6,867
9,620 15,111

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loan 29,534 24,000
Trade creditors 216 6,867
Taxes & social security costs 15,792 19,609
Other creditors & accruals 35,244 35,504
80,786 85,980

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£ £
Bank loan 637,271 670,315

Deryn Properties (Development) Limited (Registered number: 08136268)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The bank loan is secured over the investment property owned by the company.

The total amount repayable by instalments over more than 5 years is £492,032 (2023 - £532,863).