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FOSSDYKE DEVELOPMENTS LIMITED

Registered Number
05860014
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

FOSSDYKE DEVELOPMENTS LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Mrs M J Holliday
Mr M J Holliday

Company Secretary

Mrs M J Holliday

Registered Address

Lewer House, 12 Tentercroft
Street, Lincoln
Lincolnshire
LN5 7DB

Place of Business

Fossdyke House

Gainsborough Road

Saxilby

Lincoln

LN1 2JH


Registered Number

05860014 (England and Wales)
FOSSDYKE DEVELOPMENTS LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,000-
5,000-
Current assets
Stocks42,328,2842,207,374
Debtors514,282168,969
Cash at bank and on hand60,627280,568
2,403,1932,656,911
Creditors amounts falling due within one year6(2,427,153)(2,565,910)
Net current assets (liabilities)(23,960)91,001
Total assets less current liabilities(18,960)91,001
Creditors amounts falling due after one year7-(91,572)
Net assets(18,960)(571)
Capital and reserves
Called up share capital22
Profit and loss account(18,962)(573)
Shareholders' funds(18,960)(571)
The financial statements were approved and authorised for issue by the Board of Directors on 19 March 2025, and are signed on its behalf by:
Mrs M J Holliday
Director
Registered Company No. 05860014
FOSSDYKE DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 work performed to date to the total estimated contract costs.
Current taxation
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Additions5,0005,000
At 31 May 245,0005,000
Net book value
At 31 May 245,0005,000
At 31 May 23--
4.Stocks

2024

2023

££
Work in progress2,328,2842,207,374
Total2,328,2842,207,374
5.Debtors: amounts due within one year

2024

2023

££
Other debtors9,672163,921
Prepayments and accrued income4,6105,048
Total14,282168,969
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,0075,937
Bank borrowings and overdrafts91,57287,629
Other creditors2,330,0742,471,843
Accrued liabilities and deferred income500501
Total2,427,1532,565,910
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-91,572
Total-91,572
Pension scheme loan is denominated in £ with a nominal interest rate of 4.50%, and the final instalment is due on 13 July 2025. The carrying amount at year end is £91,572 (2023 - £179,201).