Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 1,238,862 | 1,260,084 | |||
| Current assets | ||||
| Stocks |
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| Debtors | ||||
| - due within one year | 4 |
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| - due after more than one year | 4 |
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| Cash at bank and in hand |
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| 2,647,706 | 2,929,774 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 1,066,173 | 1,164,373 | ||
| Total assets less current liabilities | 2,305,035 | 2,424,457 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Devon Tarmasters (SW) Limited (registered number:
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Ms E West
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Devon Tarmasters (SW) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ambrison House Unit 1 Lorn Haven Business Park, Ashburton, Newton Abbot, TQ13 7FF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
| Land and buildings | not depreciated |
| Plant and machinery |
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| Vehicles |
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| Fixtures and fittings |
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Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit or loss. Reversal of impairment losses are also recognised in the profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
| 2025 | 2024 | ||
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| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings | Plant and machinery | Vehicles | Fixtures and fittings | Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 April 2024 |
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| At 31 March 2025 |
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| Accumulated depreciation | |||||||||
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| Charge for the financial year |
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| Disposals |
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| At 31 March 2025 |
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| Net book value | |||||||||
| At 31 March 2025 | 395,855 | 480,489 | 339,982 | 22,536 | 1,238,862 | ||||
| At 31 March 2024 | 395,855 | 401,409 | 436,320 | 26,500 | 1,260,084 |
| 2025 | 2024 | ||
| £ | £ | ||
| Debtors: amounts falling due within one year | |||
| Trade debtors |
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| Amounts owed by Group undertakings |
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| Amounts owed by connected persons |
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| Amounts owed by directors |
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| Prepayments |
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| VAT recoverable |
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| Other debtors |
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| Debtors: amounts falling due after more than one year | |||
| Amounts owed by connected persons |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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| Trade creditors |
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| Amounts owed to associates |
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| Accruals |
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| Taxation and social security |
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| Obligations under finance leases and hire purchase contracts (secured) |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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| Obligations under finance leases and hire purchase contracts (secured) |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| 50,000 | 50,000 |
Transactions with the entity's directors
| 2025 | 2024 | ||
| £ | £ | ||
| Opening balance | 9,450 | 553 | |
| Plus loan advances | 0 | 9,450 | |
| Less loan repayments | (9,450) | (553) | |
| Closing balance | 0 | 9,450 | |
| 0 | 0 |
Interest has been charged at the official rate and the loan is repayable on demand.
Parent Company:
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| Ambrison House Unit 1 Lorn Haven Business Park Ashburton Newton Abbot Devon TQ13 7FF |