REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
Devcon Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
Devcon Limited |
Devcon Limited (Registered number: 08621605) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Devcon Limited |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
72 Commercial Road |
Paddock Wood |
Tonbridge |
Kent |
TN12 6DP |
Devcon Limited (Registered number: 08621605) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Devcon Limited (Registered number: 08621605) |
Balance Sheet - continued |
31 July 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Devcon Limited (Registered number: 08621605) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Devcon Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The business is conducted from Unit 6, Minster Court, Tuscam Way, Camberley, Surrey GU15 3YY. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is the total amount receivable by the company in the ordinary course of business for construction services supplied. |
Turnover includes the value of work completed during the financial year after reference to the total contract value and stage of completion of the project. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
The Freehold Property does not constitute an investment property and for this reason it has been presented at cost less accumulated depreciation with no valuation being carried out. An impairment review is carried out each year to ensure that no provision is required against its carrying value. |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax. Deferred tax represents the future tax consequences of transactions and events in the accounts of current and previous periods in respect of all timing differences. Timing differences are differences between taxable profits and total profits as stated in the accounts that arise from the inclusion of income and expenses in tax computations in periods different from those in which they are recognised in the accounts. Deferred tax is provided in full on all timing differences which result in an obligation to pay more tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. |
Leased assets |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term. |
Pension scheme |
The company operates a defined contribution scheme for the benefit of its employees. Contributions are expensed as they become payable. |
Devcon Limited (Registered number: 08621605) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Debtors and creditors receivable/payable within one year |
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 in administrative expenses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Amount due from Related Party | 394,233 | 450,408 |
Other debtors |
Directors' loan accounts | 121,641 | 116,185 |
VAT |
Amount due from related party is due from Devcon Properties Limited, a company whose entire issued share capital is owned by Lawrence Pope, Director and sole shareholder of Devcon Limited. |
Devcon Limited (Registered number: 08621605) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade creditors |
Amount due to Related Party |
Corporation Tax (including S455 Tax) |
Social security and other taxes |
Other creditors |
Amount due to related party is due to Devcon Commercial Limited, a company whose entire issued share capital is owned by Lawrence Pope, Director and Sole Shareholder of Devcon Limited. |
7. | PROVISIONS FOR LIABILITIES |
31.7.24 | 31.7.23 |
£ | £ |
Deferred tax | 1,035 | 1,380 |
Deferred |
tax |
£ |
Balance at 1 August 2023 |
Credit to Profit and Loss Account during year | ( |
) |
Balance at 31 July 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 31.7.23 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
9. | PENSION COMMITMENTS |
The Company has made payments of £6,044 (2023 - £6,394) to the Company’s auto enrolment pension scheme, on behalf of two of its Directors and employees, during the year. The assets of the schemes are held separately from those of the Company in independently administered funds. The Company's liability is limited to the amount of the contributions payable. |
Devcon Limited (Registered number: 08621605) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023: |
31.7.24 | 31.7.23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The Company has made a loan to Mr L Pope. At 1 August 2023, £116,185 was outstanding and there was a further advance of £5,456 during the year, so that £121,641 was outstanding at the end of the year. Interest has been charged at HMRC official rates. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is L Pope. |