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No description of principal activity
2023-06-01
Sage Accounts Production Advanced 2024 - FRS102_2024
5,384,060
137,271
5,246,789
5,246,789
5,384,060
xbrli:pure
xbrli:shares
iso4217:GBP
06593142
2023-06-01
2024-05-31
06593142
2024-05-31
06593142
2023-05-31
06593142
2022-06-01
2023-05-31
06593142
2023-05-31
06593142
2022-05-31
06593142
bus:Director1
2023-06-01
2024-05-31
06593142
core:WithinOneYear
2024-05-31
06593142
core:WithinOneYear
2023-05-31
06593142
core:AfterOneYear
2024-05-31
06593142
core:AfterOneYear
2023-05-31
06593142
core:ShareCapital
2024-05-31
06593142
core:ShareCapital
2023-05-31
06593142
core:RevaluationReserve
2024-05-31
06593142
core:RevaluationReserve
2023-05-31
06593142
core:RetainedEarningsAccumulatedLosses
2024-05-31
06593142
core:RetainedEarningsAccumulatedLosses
2023-05-31
06593142
core:CostValuation
core:Non-currentFinancialInstruments
2023-05-31
06593142
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2024-05-31
06593142
core:CostValuation
core:Non-currentFinancialInstruments
2024-05-31
06593142
core:Non-currentFinancialInstruments
2024-05-31
06593142
core:Non-currentFinancialInstruments
2023-05-31
06593142
bus:SmallEntities
2023-06-01
2024-05-31
06593142
bus:AuditExemptWithAccountantsReport
2023-06-01
2024-05-31
06593142
bus:SmallCompaniesRegimeForAccounts
2023-06-01
2024-05-31
06593142
bus:PrivateLimitedCompanyLtd
2023-06-01
2024-05-31
06593142
bus:FullAccounts
2023-06-01
2024-05-31
COMPANY REGISTRATION NUMBER:
06593142
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 May 2024
Fixed assets
Investments |
5 |
|
5,246,789 |
5,384,060 |
|
|
|
|
|
Current assets
Debtors |
6 |
7,448,548 |
|
7,289,229 |
Cash at bank and in hand |
– |
|
5,660 |
|
------------ |
|
------------ |
|
7,448,548 |
|
7,294,889 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
1,538,946 |
|
1,488,120 |
|
------------ |
|
------------ |
Net current assets |
|
5,909,602 |
5,806,769 |
|
|
------------- |
------------- |
Total assets less current liabilities |
|
11,156,391 |
11,190,829 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
400,984 |
519,423 |
|
|
------------- |
------------- |
Net assets |
|
10,755,407 |
10,671,406 |
|
|
------------- |
------------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1,650,000 |
1,650,000 |
Revaluation reserve |
|
3,953,921 |
4,091,192 |
Profit and loss account |
|
5,151,486 |
4,930,214 |
|
|
------------- |
------------- |
Shareholders funds |
|
10,755,407 |
10,671,406 |
|
|
------------- |
------------- |
|
|
|
|
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 statement of comprehensive income has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 May 2024
These financial statements were approved by the
board of directors
and authorised for issue on
25 February 2025
, and are signed on behalf of the board by:
Company registration number:
06593142
Notes to the Financial Statements |
|
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Primes Corner, Histon, Cambridge, CB24 9AG.
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
Basis of preparation
The director has prepared the financial statements on a ongoing concern basis and considers the group has a banking facility sufficient to finance its activities.
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.
Changes in accounting policies
Due to a change in accounting policy in a group company, the revaluation of the investments has been restated to reflect the provision of deferred tax in the subsidiary.Deferred tax is now recognised as a liability on the potential gain which would arise if the underlying investment properties were sold at their restated valuation.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred 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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently revalued to reflect the underlying net asset position.
Investments in associates
Investments in associates are stated at original cost less any accumulated impairment losses.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 June 2023 |
5,384,060 |
Revaluations |
(
137,271) |
|
------------ |
At 31 May 2024 |
5,246,789 |
|
------------ |
Impairment |
|
At 1 June 2023 and 31 May 2024 |
– |
|
------------ |
|
|
Carrying amount |
|
At 31 May 2024 |
5,246,789 |
|
------------ |
At 31 May 2023 |
5,384,060 |
|
------------ |
|
|
Prior to March 2018, the group companies were held through an intermediate holding company, Camflats Limited. In March 2018 Devantier Properties Limited and Sustainable Solar Limited shareholding was restructured so they became direct subsidiaries of
Devantier Group Limited
. Axis Estates Limited, previously owned by C R Dyason became a 100% subsidiary for the cost of £1.
The investment in subsidiaries was revalued at 31 May 2019, 2020, 2021, 2022, 2023 and 2024 to reflect the underlying net assets in the subsidiary accounts.
In the year to 31 May 2024 Devantier Properties Limited had income of £393,184 and shareholders funds at 31 May 2024 of £4,824,645.
In the year to 31 May 2024 Sustainable Solar Limited had income of £53,822 and shareholders funds at 31 May 2024 of £152,560.
In the year to 31 May 2024 Axis Estates Limited had income of £21,094 and shareholders deficit of £1,219,706 on 31 May 2024.
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
– |
5,810 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
432,298 |
402,298 |
Other debtors |
7,016,250 |
6,881,121 |
|
------------ |
------------ |
|
7,448,548 |
7,289,229 |
|
------------ |
------------ |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
9,475 |
– |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
1,047,716 |
885,305 |
Corporation tax |
64,005 |
30,787 |
Social security and other taxes |
1,997 |
2,793 |
Other creditors |
415,753 |
569,235 |
|
------------ |
------------ |
|
1,538,946 |
1,488,120 |
|
------------ |
------------ |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Other creditors |
400,984 |
519,423 |
|
--------- |
--------- |
|
|
|
9.
Related party transactions
The company was under the control of
Mr C R Dyason
during the year, shareholder and director.