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COMPANY REGISTRATION NUMBER: 10377585
Doocey Developments Limited
Filleted Unaudited Financial Statements
30 September 2024
Doocey Developments Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Investment properties
4
2,052,877
2,052,877
Current assets
Debtors
5
6,400
4,000
Cash at bank and in hand
80,182
41,866
-------
-------
86,582
45,866
Prepayments and accrued income
6,466
7,535
Creditors: amounts falling due within one year
6
1,118,506
1,108,045
-----------
-----------
Net current liabilities
1,025,458
1,054,644
-----------
-----------
Total assets less current liabilities
1,027,419
998,233
Creditors: amounts falling due after more than one year
7
481,285
481,285
Provisions
105,387
105,387
Accruals and deferred income
2,421
2,830
-----------
--------
Net assets
438,326
408,731
-----------
--------
Capital and reserves
Called up share capital
8
2
2
Non-distributable reserve
323,571
323,571
Profit and loss account
114,753
85,158
--------
--------
Shareholders funds
438,326
408,731
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Doocey Developments Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 23 June 2025 , and are signed on behalf of the board by:
M. A. Doocey
Director
Company registration number: 10377585
Doocey Developments Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares incorporated, registered and trading in England and Wales with company number 10377585 . The address of the registered office is The Old Stables, Watery Lane, Tipton, United Kingdom, DY4 8NA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss and then transferred to a non-distributable reserve.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has basic financial instruments. - Financial Assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
4. Investment properties
Investment properties
£
Cost
At 1 October 2023 and 30 September 2024
2,052,877
-----------
Impairment
At 1 October 2023 and 30 September 2024
-----------
Carrying amount
At 30 September 2024
2,052,877
-----------
At 30 September 2023
2,052,877
-----------
The investment property was valued by the director on an open market basis at £2,052,877 as at 30 September 2024 (2023: £2,052,877). This historical cost of the investment property was £1,631,329 (2023: £1,631,329)
5. Debtors
2024
2023
£
£
Trade debtors
6,400
4,000
------
------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,505
( 1,235)
Social security and other taxes
9,865
7,144
Other creditors
1,107,136
1,102,136
-----------
-----------
1,118,506
1,108,045
-----------
-----------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
481,285
481,285
--------
--------
The only securities which the company has given is in respect to the mortgage facilities with Paragon Bank, The Mortgage Works (UK) PLC and The Mortgage Lender Ltd.
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
9. Directors' advances, credits and guarantees
At the reporting date the directors loan account was in credit by £28 (2023: £28). There is no fixed term for repayment and no interest is charged.
10. Related party transactions
The company was under the control of S.F. Doocey and M.A. Doocey during the current and previous period.