Silverfin false false 31/01/2025 01/02/2024 31/01/2025 Mr G J Veale 17/10/2024 Ms J I Veale 08/07/2024 23/04/1991 Ms R A Veale 17/10/2024 Mr I W Western 23/04/1991 Mr L Western 23/04/1991 Mr N J Western 23/04/1991 Mr T W Western 01/02/2022 Ms T F Winstone 23/04/1991 20 May 2025 The principal activity of the Company during the financial year is the letting of commercial property. 01420430 2025-01-31 01420430 bus:Director1 2025-01-31 01420430 bus:Director2 2025-01-31 01420430 bus:Director3 2025-01-31 01420430 bus:Director4 2025-01-31 01420430 bus:Director5 2025-01-31 01420430 bus:Director6 2025-01-31 01420430 bus:Director7 2025-01-31 01420430 bus:Director8 2025-01-31 01420430 2024-01-31 01420430 core:CurrentFinancialInstruments 2025-01-31 01420430 core:CurrentFinancialInstruments 2024-01-31 01420430 core:ShareCapital 2025-01-31 01420430 core:ShareCapital 2024-01-31 01420430 core:FurtherSpecificReserve1ComponentTotalEquity 2025-01-31 01420430 core:FurtherSpecificReserve1ComponentTotalEquity 2024-01-31 01420430 core:RetainedEarningsAccumulatedLosses 2025-01-31 01420430 core:RetainedEarningsAccumulatedLosses 2024-01-31 01420430 bus:OrdinaryShareClass1 2025-01-31 01420430 2024-02-01 2025-01-31 01420430 bus:FilletedAccounts 2024-02-01 2025-01-31 01420430 bus:SmallEntities 2024-02-01 2025-01-31 01420430 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 01420430 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 01420430 bus:Director1 2024-02-01 2025-01-31 01420430 bus:Director2 2024-02-01 2025-01-31 01420430 bus:Director3 2024-02-01 2025-01-31 01420430 bus:Director4 2024-02-01 2025-01-31 01420430 bus:Director5 2024-02-01 2025-01-31 01420430 bus:Director6 2024-02-01 2025-01-31 01420430 bus:Director7 2024-02-01 2025-01-31 01420430 bus:Director8 2024-02-01 2025-01-31 01420430 2023-02-01 2024-01-31 01420430 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 01420430 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01420430 (England and Wales)

DEVLEX (NEWTON ABBOT) LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

DEVLEX (NEWTON ABBOT) LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

DEVLEX (NEWTON ABBOT) LIMITED

BALANCE SHEET

As at 31 January 2025
DEVLEX (NEWTON ABBOT) LIMITED

BALANCE SHEET (continued)

As at 31 January 2025
Note 2025 2024
£ £
Fixed assets
Investment property 3 1,805,000 1,823,000
1,805,000 1,823,000
Current assets
Debtors 4 2,108 0
Cash at bank and in hand 307,053 273,748
309,161 273,748
Creditors: amounts falling due within one year 5 ( 60,668) ( 60,669)
Net current assets 248,493 213,079
Total assets less current liabilities 2,053,493 2,036,079
Provision for liabilities ( 245,039) ( 249,539)
Net assets 1,808,454 1,786,540
Capital and reserves
Called-up share capital 6 300 300
Fair value reserve 1,061,300 1,074,800
Profit and loss account 746,854 711,440
Total shareholders' funds 1,808,454 1,786,540

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Devlex (Newton Abbot) Limited (registered number: 01420430) were approved and authorised for issue by the Board of Directors on 20 May 2025. They were signed on its behalf by:

Mr T W Western
Director
DEVLEX (NEWTON ABBOT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
DEVLEX (NEWTON ABBOT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Devlex (Newton Abbot) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises rents receivable from tenants and is shown net of value added tax. The company recognises revenue when received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 February 2024 1,823,000
Fair value movement (18,000)
As at 31 January 2025 1,805,000

At the year end, the investment property has been revalued to market value by the directors. There has been no valuation of the investment property by an independent valuer.

4. Debtors

2025 2024
£ £
Amounts owed by directors 2,108 0

5. Creditors: amounts falling due within one year

2025 2024
£ £
Amounts owed to directors 0 93
Accruals and deferred income 19,188 18,016
Corporation tax 34,337 35,899
Other taxation and social security 7,143 6,661
60,668 60,669

6. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
300 Ordinary shares of £ 1.00 each 300 300

7. Related party transactions

Transactions with the entity's directors

2025 2024
£ £
Opening balance 0 0
Plus loan advances made in the year 2,108 0
Closing balance 2,108 0

The company operates Loan Accounts with the company directors . There is no fixed date of repayment and bears interest on balances greater than £10,000 at the rate stipulated by HMRC.