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Registration number: 14300826

DBL Developments (S.E) Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

DBL Developments (S.E) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

DBL Developments (S.E) Ltd

Company Information

Directors

D M Ellis

J T Straughan

D J Boorman

D J Turner

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

DBL Developments (S.E) Ltd

(Registration number: 14300826)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,092

6,477

Current assets

 

Stocks

5

3,816,857

1,391,192

Debtors

6

239,749

271,139

Cash at bank and in hand

 

59,785

130,254

 

4,116,391

1,792,585

Creditors: Amounts falling due within one year

7

(35,945)

(7,067)

Net current assets

 

4,080,446

1,785,518

Total assets less current liabilities

 

4,090,538

1,791,995

Creditors: Amounts falling due after more than one year

7

(4,189,203)

(1,831,812)

Net liabilities

 

(98,665)

(39,817)

Capital and reserves

 

Retained earnings

(98,665)

(39,817)

Shareholders' deficit

 

(98,665)

(39,817)

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................
D M Ellis
Director

   
     
 

DBL Developments (S.E) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

DBL Developments (S.E) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Asset class

Depreciation method and rate

Plant and Machinery

25% reducing balance

Office Equipment

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

DBL Developments (S.E) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

2,000

663

5,380

8,043

Additions

-

-

6,460

6,460

At 31 August 2024

2,000

663

11,840

14,503

Depreciation

At 1 September 2023

-

221

1,345

1,566

Charge for the year

-

221

2,624

2,845

At 31 August 2024

-

442

3,969

4,411

Carrying amount

At 31 August 2024

2,000

221

7,871

10,092

At 31 August 2023

2,000

442

4,035

6,477

Included within the net book value of land and buildings above is £2,000 (2023 - £2,000) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Work in progress

3,816,857

1,391,192

6

Debtors

2024
£

2023
£

Taxation and social security

23,943

45,543

Prepayments

174,134

224,044

Other debtors

41,672

1,552

239,749

271,139

 

DBL Developments (S.E) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

9,959

6,067

Accruals and deferred income

1,000

1,000

Other creditors

24,986

-

35,945

7,067

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

4,189,203

1,831,812

 

DBL Developments (S.E) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

4,189,203

1,831,812

9

Related party transactions

Summary of transactions with other related parties

3D Developments (S.E.) Ltd
Coleman and Salmon Developments Ltd
Foxtail Holdings Ltd

 Interest free loans from each Holding Company
 

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

1,060,589

1,060,589

Advanced

41,063

41,063

Repaid

(7,000)

(7,000)

At end of period

1,094,652

1,094,652

2023

Other related parties
£

Total
£

At start of period

1,060,589

1,060,589

At end of period

1,060,589

1,060,589