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COMPANY REGISTRATION NUMBER: 03359918
Dewdown Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
Dewdown Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,507,098
1,509,776
Investments
6
2,000
2,000
-------------
-------------
1,509,098
1,511,776
Current assets
Stocks
66,000
66,000
Debtors
7
298,696
280,585
Cash at bank and in hand
67,690
154,590
----------
----------
432,386
501,175
Creditors: amounts falling due within one year
8
16,449
16,789
----------
----------
Net current assets
415,937
484,386
-------------
-------------
Total assets less current liabilities
1,925,035
1,996,162
Provisions
Taxation including deferred tax
105,087
105,577
-------------
-------------
Net assets
1,819,948
1,890,585
-------------
-------------
Dewdown Limited
Statement of Financial Position (continued)
30 April 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
650,010
650,010
Revaluation reserve
315,261
316,730
Profit and loss account
854,677
923,845
-------------
-------------
Shareholders funds
1,819,948
1,890,585
-------------
-------------
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 income statement has not been delivered.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 January 2025 , and are signed on behalf of the board by:
C.L. Birdsall
Director
Company registration number: 03359918
Dewdown Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares. The registered office address is Carlisle Chambers, Carlisle Street, Goole, DN14 5DX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
(d) Revenue recognition
The turnover shown in the profit and loss account represents managerial services offered to its subsidiary and the sale of land recognised upon completion of the sales contract and transfer of legal title. Income from rents receivable is recognised in accordance with the agreed terms of the relevant lease agreement.
(e) Current & deferred tax
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(g) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
25% reducing balance
(h) Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
(i) Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
(j) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(k) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(l) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. Tangible assets
Land and buildings
Plant and machinery
Total
£
£
£
Cost or valuation
At 1 May 2023
1,506,899
3,836
1,510,735
Revaluations
( 1,959)
( 1,959)
-------------
-------
-------------
At 30 April 2024
1,504,940
3,836
1,508,776
-------------
-------
-------------
Depreciation
At 1 May 2023
959
959
Charge for the year
719
719
-------------
-------
-------------
At 30 April 2024
1,678
1,678
-------------
-------
-------------
Carrying amount
At 30 April 2024
1,504,940
2,158
1,507,098
-------------
-------
-------------
At 30 April 2023
1,506,899
2,877
1,509,776
-------------
-------
-------------
Investment property has been valued at market value by the directors based on their experience in the location and category of the investment property concerned.
6. Investments
Shares in group undertakings
£
Cost
At 1 May 2023 and 30 April 2024
2,000
-------
Impairment
At 1 May 2023 and 30 April 2024
-------
Carrying amount
At 30 April 2024
2,000
-------
At 30 April 2023
2,000
-------
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
7. Debtors
2024
2023
£
£
Trade debtors
3,125
3,315
Other debtors
295,571
277,270
----------
----------
298,696
280,585
----------
----------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Director loan accounts
249
616
Other creditors
12,775
12,786
Other creditors
3,425
3,387
--------
--------
16,449
16,789
--------
--------
9. Analysis of other comprehensive income
Revaluation reserve
Profit and loss account
Total
£
£
£
Year ended 30 April 2024
Revaluation of tangible assets
( 1,959)
( 1,959)
Reclassification from revaluation reserve to profit and loss account
1,959
1,959
Tax relating to components of other comprehensive income
490
( 490)
-------
-------
-------
( 1,469)
1,469
-------
-------
-------
Year ended 30 April 2023
Revaluation of tangible assets
400,000
400,000
Reclassification from revaluation reserve to profit and loss account
( 400,000)
( 400,000)
Tax relating to components of other comprehensive income
( 100,000)
100,000
----------
----------
----------
300,000
( 300,000)
----------
----------
----------
Dewdown Limited
Notes to the Financial Statements (continued)
Year ended 30 April 2024
10. Related party transactions
The company has taken advantage of the exemptions provided in FRS 102 from reporting transactions between wholly owned members of the group. During the year the director made available loans to the company . The loans are interest free and repayable on demand. At the year end date the balance due to the director totalled £ 249 (2023 - £616).