Registered number
08293208
East Devon Estates Limited
Filleted Accounts
30 September 2024
East Devon Estates Limited
Registered number: 08293208
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 26,844 7,249
Investments 4 360,000 360,000
386,844 367,249
Current assets
Stocks 2,014,027 1,336,683
Debtors 5 53,169 103,684
Cash at bank and in hand 20,863 81,366
2,088,059 1,521,733
Creditors: amounts falling due within one year 6 (118,376) (176,306)
Net current assets 1,969,683 1,345,427
Total assets less current liabilities 2,356,527 1,712,676
Creditors: amounts falling due after more than one year 7 (1,947,942) (1,171,072)
Net assets 408,585 541,604
Capital and reserves
Called up share capital 110 110
Profit and loss account 408,475 541,494
Shareholders' funds 408,585 541,604
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
__________________ __________________
P Brinton S J Brinton
Director Director
Approved by the board on 25 June 2025
East Devon Estates Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% straight line
Plant and machinery 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 67,457 31,710 99,167
Additions 30,622 - 30,622
At 30 September 2024 98,079 31,710 129,789
Depreciation
At 1 October 2023 63,698 28,220 91,918
Charge for the year 7,538 3,489 11,027
At 30 September 2024 71,236 31,709 102,945
Net book value
At 30 September 2024 26,843 1 26,844
At 30 September 2023 3,759 3,490 7,249
4 Investments
Other
investments
£
Cost
At 1 October 2023 360,000
At 30 September 2024 360,000
The investment property was transferred from development stock on 31 March 2020 at a
directors' valuation of £360,000.
5 Debtors 2024 2023
£ £
Trade debtors - 102
Directors loan account 40,791 84,187
Corporation tax 4,379
Other debtors 7,999 19,395
53,169 103,684
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 21,300 21,300
Obligations under finance lease and hire purchase contracts - 4,156
Trade creditors 44,911 82,035
Corporation tax - 13,286
Other taxes and social security costs 1,657 5,569
Other creditors 50,508 49,960
118,376 176,306
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 115,340 132,611
Other creditors 1,832,602 1,038,461
1,947,942 1,171,072
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 153,910 200,819
The bank loans are secured by a charge on the assets of the company.
9 Loans to directors
Description and conditions B/fwd Advanced Repaid C/fwd
£ £ £ £
P Brinton
Directors loan account 63,292 50,162 (66,130) 47,324
S J Brinton
Directors loan account 24,664 41,024 (67,832) (2,144)
J Brinton
Directors loan account (3,769) 4,380 (5,000) (4,389)
84,187 95,566 (138,962) 40,791
10 Transactions with directors
During the year the company was controlled by its directors.
11 Other information
East Devon Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Mill
Kingsteignton Road
Newton Abbot
Devon
TQ12 2QA
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