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Registered number: 02520499
Devonshire Window Systems Limited
ABRIDGED Financial Statements
For The Year Ended 31 March 2024
David Osman a trading style of David Osman Limited
Chartered Accountants
20 Rougemont Avenue
Torquay
Devon
TQ2 7JP
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 02520499
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 246,422 122,410
246,422 122,410
CURRENT ASSETS
Stocks 64,278 57,113
Debtors 334,645 363,602
Cash at bank and in hand 364,583 643,180
763,506 1,063,895
Creditors: Amounts Falling Due Within One Year (434,738 ) (565,993 )
NET CURRENT ASSETS (LIABILITIES) 328,768 497,902
TOTAL ASSETS LESS CURRENT LIABILITIES 575,190 620,312
Creditors: Amounts Falling Due After More Than One Year (37,697 ) (60,691 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,812 ) (25,812 )
NET ASSETS 515,681 533,809
CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Profit and Loss Account 514,681 532,809
SHAREHOLDERS' FUNDS 515,681 533,809
Page 1
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For the year ending 31 March 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Darran Round
Director
10/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
Devonshire Window Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02520499 . The registered office is 5 Western Business Park, Brixham Road, Paignton, Devon, TQ4 7BA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer (usually on dispatch, collection by the customer or bespoke items held on behalf of the customer by the company or the customers nominated supplier), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for materials and for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Over the lease term
Plant & Machinery 15% or 20% straight line
Motor Vehicles 20% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. Research and Development
Expenditure on research and development is written off in the year in which it is incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 19)
20 19
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 331,726
Additions 184,821
Disposals (10,804 )
As at 31 March 2024 505,743
Depreciation
As at 1 April 2023 209,316
Provided during the period 59,786
Disposals (9,781 )
As at 31 March 2024 259,321
...CONTINUED
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Net Book Value
As at 31 March 2024 246,422
As at 1 April 2023 122,410
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 73,421 70,789
5. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 31,703 29,676
Later than one year and not later than five years 25,152 39,024
56,855 68,700
Less: Finance charges allocated to future periods 4,033 5,745
52,822 62,955
6. Share Capital
Issued Share Capital is 750 D Ordinary Shares and 250 H Ordinary Shares with equal rights.
7. Contingent Liabilities
The company had contingent liabilities in respect of guarantees and an after sales service in respect of manufactured components for varying periods from the date of sale. No provision has been made for the potential future costs relating to these guarantees.
8. Capital Commitments
2024 2023
£ £
At the end of the period - 50,582
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 46,000 44,325
Later than one year and not later than five years 10,000 45,975
56,000 90,300
10. Pension Commitments
The company operates a defined contribution pension scheme for the employees.The assets of the scheme are held separately from those of the company in an independently administered fund. At the Balance Sheet date unpaid contributions of £3,060 (2023:£2,637) were due to the fund. They are included in Other Creditors.
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Darran Round 5,920 135 6,055 - -
The above loan is unsecured, interest is paid at the official rate and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr Darran Round - 37,500
Miss Helen Round - 12,500
12. Related Party Transactions
The company occupies premises owned by the Directors. Rent of £30,000 was paid during the year ended 31st March 2024. (2023: £30,000).
Compacfoam UK LtdMr Darran John Round is a Director and ShareholderJoint venture to provide installation materials. Amont due by that company at 31 March 2024 was £3,304.25

Compacfoam UK Ltd

Mr Darran John Round is a Director and Shareholder

Joint venture to provide installation materials. Amont due by that company at 31 March 2024 was £3,304.25

13. Ultimate Controlling Party
The company's ultimate controlling party is Mr Darran John Round and Miss Helen Deborah Round by virtue of their ownership of 100% of the issued share capital in the company.
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