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Company No: 14356439 (England and Wales)

DEVELOPMENT LAND PROMOTION LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

DEVELOPMENT LAND PROMOTION LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

DEVELOPMENT LAND PROMOTION LTD

BALANCE SHEET

As at 30 September 2024
DEVELOPMENT LAND PROMOTION LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Current assets
Stocks 3 6,672 4,812
Debtors 4 50 50
Cash at bank and in hand 379 396
7,101 5,258
Creditors: amounts falling due within one year 5 ( 9,421) ( 6,750)
Net current liabilities (2,320) (1,492)
Total assets less current liabilities (2,320) (1,492)
Net liabilities ( 2,320) ( 1,492)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 2,420 ) ( 1,592 )
Total shareholders' deficit ( 2,320) ( 1,492)

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Development Land Promotion Ltd (registered number: 14356439) were approved and authorised for issue by the Board of Directors on 24 February 2025. They were signed on its behalf by:

Mr G R Fincham
Director
DEVELOPMENT LAND PROMOTION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
DEVELOPMENT LAND PROMOTION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Development Land Promotion Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

Notwithstanding the net liabilities of £2,320 the directors have continued to adopt the going concern basis of accounting. The directors, and other related companies, have confirmed their willingness to support the company for the foreseeable future (being not less than 12 months from approval of the financial statements), and are also expecting future growth sufficient to enable the company to meet its liabilities.

Work in progress

Work in progress is valued at the lower of cost and net realisable value after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Costs includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

Year ended
30.09.2024
Period from
14.09.2022 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Stocks

30.09.2024 30.09.2023
£ £
Work in progress 6,672 4,812

4. Debtors

30.09.2024 30.09.2023
£ £
Other debtors 50 50

5. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Other creditors 9,421 6,750

6. Called-up share capital

30.09.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
50 Ordinary - paid shares of £ 1.00 each 50 50
Allotted, called-up and not yet paid
50 Ordinary - unpaid shares of £ 1.00 each 50 50