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COMPANY REGISTRATION NUMBER: 06106339
Davidge Developments Ltd
Unaudited financial statements
28 February 2025
Davidge Developments Ltd
Statement of financial position
28 February 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
5
8,473
5,544
Current assets
Debtors
6
763,958
829,789
Cash at bank and in hand
30,056
23,529
---------
---------
794,014
853,318
Creditors: Amounts falling due within one year
7
( 58,953)
( 12,410)
---------
---------
Net current assets
735,061
840,908
---------
---------
Total assets less current liabilities
743,534
846,452
Provisions
Taxation including deferred tax
3,870
( 1,053)
---------
---------
Net assets
747,404
845,399
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
747,304
845,299
---------
---------
Shareholders funds
747,404
845,399
---------
---------
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 February 2025 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 .
Davidge Developments Ltd
Statement of financial position (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 29 April 2025 , and are signed on behalf of the board by:
T Davidge
Director
Company registration number: 06106339
Davidge Developments Ltd
Notes to the financial statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Deer View, Bow Street, Great Ellingham, Norfolk, NR17 1JA.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
Equipment
-
33% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of employees during the year was 2 (2024: 2 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 March 2024
8,683
2,414
11,097
Additions
4,108
4,108
-------
------
-------
At 28 February 2025
12,791
2,414
15,205
-------
------
-------
Depreciation
At 1 March 2024
3,660
1,893
5,553
Charge for the year
867
312
1,179
-------
------
-------
At 28 February 2025
4,527
2,205
6,732
-------
------
-------
Carrying amount
At 28 February 2025
8,264
209
8,473
-------
------
-------
At 29 February 2024
5,023
521
5,544
-------
------
-------
6. Debtors
2025
2024
£
£
Trade debtors
5,000
Other debtors
758,958
829,789
---------
---------
763,958
829,789
---------
---------
The debtors above include the following amounts falling due after more than one year:
2025
2024
£
£
Other debtors
186,548
----
---------
7. Creditors: Amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
54,167
Trade creditors
876
2,950
Social security and other taxes
1,380
7,075
Other creditors
2,530
2,385
-------
-------
58,953
12,410
-------
-------
8. Directors' advances, credits and guarantees
Included within debtors at the year end is a directors loan account of £572,410 (2024 - £642,624). Interest of £12,810 (2024 - £17,513) was charged at the official rate.