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Company Registration No. SC646298 (Scotland)
Developments 38 Ltd Unaudited accounts for the year ended 30 November 2024
Developments 38 Ltd Unaudited accounts Contents
Page
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Developments 38 Ltd Company Information for the year ended 30 November 2024
Director
Barry John Corr
Company Number
SC646298 (Scotland)
Registered Office
18 Blackhill Gardens Glasgow G23 5NE Scotland
Accountants
Calculo Ltd Eastworks Gateway Court Glasgow G40 4DS
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Developments 38 Ltd Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
19,214 
Investment property
705,000 
522,500 
705,000 
541,714 
Current assets
Debtors
94,372 
46,883 
Cash at bank and in hand
21,290 
47,417 
115,662 
94,300 
Creditors: amounts falling due within one year
(130,253)
(90,681)
Net current (liabilities)/assets
(14,591)
3,619 
Total assets less current liabilities
690,409 
545,333 
Creditors: amounts falling due after more than one year
(490,496)
(360,370)
Provisions for liabilities
Deferred tax
(56,750)
(46,125)
Net assets
143,163 
138,838 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
143,063 
138,738 
Shareholders' funds
143,163 
138,838 
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 March 2025 and were signed on its behalf by
Barry John Corr Director Company Registration No. SC646298
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Developments 38 Ltd Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Developments 38 Ltd is a private company, limited by shares, registered in Scotland, registration number SC646298. The registered office is 18 Blackhill Gardens, Glasgow, G23 5NE, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
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Developments 38 Ltd Notes to the Accounts for the year ended 30 November 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2023
23,960 
Disposals
(23,960)
At 30 November 2024
- 
Depreciation
At 1 December 2023
4,746 
On disposals
(4,746)
At 30 November 2024
- 
Net book value
At 30 November 2024
- 
At 30 November 2023
19,214 
5
Investment property
2024 
£ 
Fair value at 1 December 2023
522,500 
Additions
400,000 
Disposals
(260,000)
Net gain from fair value adjustments
42,500 
At 30 November 2024
705,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
94,372 
46,883 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
41,154 
44,083 
Other creditors
59,935 
5,000 
Loans from directors
29,164 
41,598 
130,253 
90,681 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
490,496 
351,836 
Obligations under finance leases and hire purchase contracts
- 
8,534 
490,496 
360,370 
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Developments 38 Ltd Notes to the Accounts for the year ended 30 November 2024
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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