REGISTERED NUMBER: 08303873 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 NOVEMBER 2024

FOR

DEVASSIST LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P C Addison

REGISTERED OFFICE:

15 West Street

Brighton

East Sussex

BN1 2RL

REGISTERED NUMBER:

08303873 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

22,102

4,423

22,102

4,423

CURRENT ASSETS

Debtors

5

297,216

264,627

Cash at bank

48,042

28,961

345,258

293,588

CREDITORS

Amounts falling due within one year

6

200,377

279,260

NET CURRENT ASSETS

144,881

14,328

TOTAL ASSETS LESS CURRENT LIABILITIES

166,983

18,751

CREDITORS

Amounts falling due after more than one year

7

159,633

17,258

NET ASSETS

7,350

1,493

CAPITAL AND RESERVES

Called up share capital

7,000

7,000

Retained earnings

350

(5,507

)

7,350

1,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 June 2025 and were signed by:

P C Addison - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual property is being amortised evenly over its estimated useful life of nil years.

Intellectual property

Amortisation is provided at the following annual rates in order to write off each asset over the estimated useful life.

Intellectual property - 10% on cost.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

3.	INTANGIBLE FIXED ASSETS

Intellectual

property

£

COST

At 30 November 2023

and 29 November 2024

120,000

AMORTISATION

At 30 November 2023

and 29 November 2024

120,000

NET BOOK VALUE

At 29 November 2024

-

At 29 November 2023

-

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 30 November 2023

863

-

17,092

17,955

Additions

-

18,490

3,187

21,677

Disposals

(863

)

-

(6,029

)

(6,892

)

At 29 November 2024

-

18,490

14,250

32,740

DEPRECIATION

At 30 November 2023

863

-

12,669

13,532

Charge for year

-

1,393

2,605

3,998

Eliminated on disposal

(863

)

-

(6,029

)

(6,892

)

At 29 November 2024

-

1,393

9,245

10,638

NET BOOK VALUE

At 29 November 2024

-

17,097

5,005

22,102

At 29 November 2023

-

-

4,423

4,423

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

61,902

66,276

Other debtors

53,692

51,708

Directors' loan accounts

180,167

144,290

Prepayments

1,455

2,353

297,216

264,627

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

48,635

41,418

Hire purchase contracts

1,810

-

Trade creditors

24,408

13,230

Tax

61,026

148,580

Social security and other taxes

9,211

15,958

VAT

24,138

16,636

Other creditors

28,549

38,655

Accrued expenses

2,600

4,783

200,377

279,260

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

48,635

17,258

Bank loans - 2-5 years

97,270

-

Hire purchase contracts

13,728

-

159,633

17,258

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 November 2024 and 29 November 2023:

2024

2023

£

£

P C Addison

Balance outstanding at start of year

144,290

21,746

Amounts advanced

46,189

147,754

Amounts repaid

(10,312

)

(25,210

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

180,167

144,290

This balance represented the maximum amount outstanding during the year and the loan is repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P C Addison.

This was by virtue of his 100% holding of the issued share capital.