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Company Registration No. 08169176 (England and Wales)
Development And Renovation Limited Unaudited accounts for the year ended 30 August 2024
Development And Renovation Limited Unaudited accounts Contents
Page
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Development And Renovation Limited Company Information for the year ended 30 August 2024
Director
Imran Din
Company Number
08169176 (England and Wales)
Registered Office
8 Easterly Crescent Leeds LS8 2SF
Accountants
Shipleys Tax - Chartered Accountants 32 Park Cross Street Leeds West Yorkshire LS1 2QH
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Development And Renovation Limited Statement of financial position as at 30 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,025 
4,033 
Investment property
2,591,618 
2,591,618 
2,594,643 
2,595,651 
Current assets
Debtors
14,477 
14,477 
Cash at bank and in hand
53,622 
35,515 
68,099 
49,992 
Creditors: amounts falling due within one year
(267,156)
(263,218)
Net current liabilities
(199,057)
(213,226)
Total assets less current liabilities
2,395,586 
2,382,425 
Creditors: amounts falling due after more than one year
(751,526)
(805,903)
Provisions for liabilities
Deferred tax
(289,316)
(289,316)
Net assets
1,354,744 
1,287,206 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
1,233,400 
1,233,400 
Profit and loss account
121,244 
53,706 
Shareholders' funds
1,354,744 
1,287,206 
For the year ending 30 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 May 2025 and were signed on its behalf by
Imran Din Director Company Registration No. 08169176
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Development And Renovation Limited Notes to the Accounts for the year ended 30 August 2024
1
Statutory information
Development And Renovation Limited is a private company, limited by shares, registered in England and Wales, registration number 08169176. The registered office is 8 Easterly Crescent, Leeds, LS8 2SF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 August 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 31 August 2022. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives on the following basis: Fixtures, fittings & equipment - 25% Reducing balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Development And Renovation Limited Notes to the Accounts for the year ended 30 August 2024
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 or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 31 August 2023
11,540 
At 30 August 2024
11,540 
Depreciation
At 31 August 2023
7,507 
Charge for the year
1,008 
At 30 August 2024
8,515 
Net book value
At 30 August 2024
3,025 
At 30 August 2023
4,033 
5
Investment property
2024 
£ 
Fair value at 31 August 2023
2,591,618 
At 30 August 2024
2,591,618 
Investment property is carried at fair value and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. The market value of the company's investment properties at the valuation date of August 2021 has been incorporated in to these financial statements as the value as at 30 August 2024. In the opinion of the directors the difference in valuation between the two dates is considered immaterial.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
14,477 
14,477 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
35,575 
27,872 
Taxes and social security
26,635 
29,950 
Loans from directors
201,346 
201,346 
Accruals
3,600 
4,050 
267,156 
263,218 
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Development And Renovation Limited Notes to the Accounts for the year ended 30 August 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
666,837 
721,214 
Other creditors
84,689 
84,689 
751,526 
805,903 
9
Deferred taxation
2024 
2023 
£ 
£ 
Revaluation of investment property
289,316 
289,316 
2024 
2023 
£ 
£ 
Provision at start of year
289,316 
289,316 
Provision at end of year
289,316 
289,316 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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