Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseBuying and selling of own real estate11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10514601 2023-04-01 2024-03-31 10514601 2022-04-01 2023-03-31 10514601 2024-03-31 10514601 2023-03-31 10514601 2022-04-01 10514601 c:Director1 2023-04-01 2024-03-31 10514601 d:CurrentFinancialInstruments 2024-03-31 10514601 d:CurrentFinancialInstruments 2023-03-31 10514601 d:Non-currentFinancialInstruments 2024-03-31 10514601 d:Non-currentFinancialInstruments 2023-03-31 10514601 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10514601 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10514601 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10514601 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10514601 d:ShareCapital 2023-04-01 2024-03-31 10514601 d:ShareCapital 2024-03-31 10514601 d:ShareCapital 2023-03-31 10514601 d:ShareCapital 2022-04-01 10514601 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10514601 d:RetainedEarningsAccumulatedLosses 2024-03-31 10514601 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 10514601 d:RetainedEarningsAccumulatedLosses 2023-03-31 10514601 d:RetainedEarningsAccumulatedLosses 2022-04-01 10514601 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10514601 c:OrdinaryShareClass1 2024-03-31 10514601 c:OrdinaryShareClass1 2023-03-31 10514601 c:FRS102 2023-04-01 2024-03-31 10514601 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10514601 c:FullAccounts 2023-04-01 2024-03-31 10514601 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10514601 6 2023-04-01 2024-03-31 10514601 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10514601










DEVONSHIRE PROPERTY GROUP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
DEVONSHIRE PROPERTY GROUP LIMITED
REGISTERED NUMBER: 10514601

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
15,092,118
4,527,821

Current assets
  

Debtors: amounts falling due within one year
 5 
17,125,646
28,942,216

Cash at bank and in hand
  
471,612
4,350

  
17,597,258
28,946,566

Creditors: amounts falling due within one year
 6 
(18,595,048)
(26,313,322)

Net current (liabilities)/assets
  
 
 
(997,790)
 
 
2,633,244

Creditors: amounts falling due after more than one year
 7 
(10,000,000)
(5,000,000)

  

Net assets
  
4,094,328
2,161,065


Capital and reserves
  

Called up share capital 
 8 
5,000,000
2,205,592

Profit and loss account
  
(905,672)
(44,527)

  
4,094,328
2,161,065


Page 1

 
DEVONSHIRE PROPERTY GROUP LIMITED
REGISTERED NUMBER: 10514601
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 March 2025.




A C Lavery
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
DEVONSHIRE PROPERTY GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2022
2,205,592
334,075
2,539,667


Comprehensive income for the year

Loss for the year
-
(378,602)
(378,602)



At 1 April 2023
2,205,592
(44,527)
2,161,065


Comprehensive income for the year

Loss for the year
-
(861,145)
(861,145)


Contributions by and distributions to owners

Shares issued during the year
10,388,157
-
10,388,157

Share capital reduction
(7,593,749)
-
(7,593,749)


At 31 March 2024
5,000,000
(905,672)
4,094,328


The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
DEVONSHIRE PROPERTY GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Devonshire Property Group Limited is a private company limited by shares, incorporated in England and Wales (registered number: 10514601). Its registered office is The Estate Office, Edensor, Bakewell, Derbyshire, DE45 1PJ. The principal activity of the Company throughout the year continued to be that of buying and selling real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 
DEVONSHIRE PROPERTY GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. 
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability  simultaneously.

 
2.5

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average number of employees during the year was 0 (2023 - 0). The directors do not have employment contracts with the Company and are not paid for their role.

Page 5

 
DEVONSHIRE PROPERTY GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 April 2023
2,245,370
2,282,451
4,527,821


Additions
10,388,158
-
10,388,158


Revaluations
-
176,139
176,139



At 31 March 2024
12,633,528
2,458,590
15,092,118





5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
16,625,645
25,022,322

Amounts owed by related undertakings
299,999
3,919,894

Other debtors
200,002
-

17,125,646
28,942,216



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
142,637
-

Amounts owed to group undertakings
18,307,020
-

Amounts owed to related undertakings
5,000
25,822,528

Corporation tax
-
92,832

Accruals and deferred income
140,391
397,962

18,595,048
26,313,322


Page 6

 
DEVONSHIRE PROPERTY GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,000,000
5,000,000


Bank loans are secured against the assets of the group.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5,000,000 (2023 - 2,205,592) Ordinary shares of £1.00 each
5,000,000
2,205,592


In September 2023, 10,388,157 £1 ordinary shares were issued at par. In February 2024, there was a reduction in share capital of 7,593,749 shares.  

 
Page 7