Registered number
10974758
Devonshire Villas Ltd
Filleted Accounts
30 September 2024
Devonshire Villas Ltd
Registered number: 10974758
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 73,125 78,750
Tangible assets 4 15,111 12,631
88,236 91,381
Current assets
Stocks 180 190
Debtors 5 209,904 54,370
Cash at bank and in hand 486,625 461,472
696,709 516,032
Creditors: amounts falling due within one year 6 (91,119) (53,529)
Net current assets 605,590 462,503
Total assets less current liabilities 693,826 553,884
Provisions for liabilities (3,777) (3,158)
Net assets 690,049 550,726
Capital and reserves
Called up share capital 1 1
Profit and loss account 690,048 550,725
Shareholders' funds 690,049 550,726
The director is 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 director acknowledges his 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.
Mr A C Crawford
Director
Approved by the board on 26 June 2025
Devonshire Villas Ltd
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 15% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 112,500
At 30 September 2024 112,500
Amortisation
At 1 October 2023 33,750
Provided during the year 5,625
At 30 September 2024 39,375
Net book value
At 30 September 2024 73,125
At 30 September 2023 78,750
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 28,486
Additions 5,146
At 30 September 2024 33,632
Depreciation
At 1 October 2023 15,855
Charge for the year 2,666
At 30 September 2024 18,521
Net book value
At 30 September 2024 15,111
At 30 September 2023 12,631
5 Debtors 2024 2023
£ £
Trade debtors 114,220 53,658
Other debtors 95,684 712
209,904 54,370
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 83,466 48,080
Other creditors 7,653 5,449
91,119 53,529
7 Related party transactions
The director owed the company £70,943 as at 30th September 2024. The director was owed £108 by the company as at 30th September 2023.The director owns the freehold property 54 Stuart Road Plymouth which is occupied by the company. The company pays the director
£25,000 per year rent, this is on standard commercial terms.
8 Other information
Devonshire Villas Ltd is a private company limited by shares and incorporated in England. Its registered office is:
54 Stuart Road
Plymouth Devon
PL3 4EE
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