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COMPANY REGISTRATION NUMBER: 12045894
DEMECH LEEDS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 June 2024
DEMECH LEEDS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28 JUNE 2024
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
DEMECH LEEDS LIMITED
STATEMENT OF FINANCIAL POSITION
28 June 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
546,889
547,399
CURRENT ASSETS
Stocks
37,295
Debtors
5
26,345
273,047
Cash at bank and in hand
19,403
89,252
--------
---------
83,043
362,299
CREDITORS: amounts falling due within one year
6
( 1,023,241)
( 1,246,177)
------------
------------
NET CURRENT LIABILITIES
( 940,198)
( 883,878)
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 393,309)
( 336,479)
CREDITORS: amounts falling due after more than one year
7
( 18,692)
( 19,167)
---------
---------
NET LIABILITIES
( 412,001)
( 355,646)
---------
---------
CAPITAL AND RESERVES
Called up share capital
3
3
Profit and loss account
( 412,004)
( 355,649)
---------
---------
SHAREHOLDERS DEFICIT
( 412,001)
( 355,646)
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 28 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DEMECH LEEDS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 June 2024
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
S P Graham
Director
Company registration number: 12045894
DEMECH LEEDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 JUNE 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 51 Selby Road, Leeds, LS9 0EW.
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 financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing financial support of the company. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of sales proceeds from farmhouses and rents received from farm tenants.
Income tax
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 assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Investment property
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
Stocks
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. TANGIBLE ASSETS
Investment property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 29 June 2023 and 28 June 2024
544,000
3,681
2,200
549,881
---------
-------
-------
---------
Depreciation
At 29 June 2023
1,420
1,062
2,482
Charge for the year
339
171
510
---------
-------
-------
---------
At 28 June 2024
1,759
1,233
2,992
---------
-------
-------
---------
Carrying amount
At 28 June 2024
544,000
1,922
967
546,889
---------
-------
-------
---------
At 28 June 2023
544,000
2,261
1,138
547,399
---------
-------
-------
---------
The market value of the investment property held as at 28th June 2024 has been calculated by the directors, and has been valued at open market value.
5. DEBTORS
2024
2023
£
£
Trade debtors
9,867
17,847
Other debtors
16,478
255,200
--------
---------
26,345
273,047
--------
---------
6. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
471,313
314,131
Trade creditors
15,570
4,079
Social security and other taxes
180
4,374
Amounts due to related companies
330,000
320,000
Other creditors
206,178
603,593
------------
------------
1,023,241
1,246,177
------------
------------
7. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,692
19,167
--------
--------