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COMPANY REGISTRATION NUMBER: 10888675
Darcy Homes (South) Ltd
Filleted Unaudited Financial Statements
31 July 2024
Darcy Homes (South) Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
4,532
5,478
Current assets
Stocks
1,753,589
1,361,902
Debtors
6
7,879
10,326
Cash at bank and in hand
243,163
62,429
------------
------------
2,004,631
1,434,657
Creditors: amounts falling due within one year
7
( 761,544)
( 974,918)
------------
------------
Net current assets
1,243,087
459,739
------------
---------
Total assets less current liabilities
1,247,619
465,217
Creditors: amounts falling due after more than one year
8
( 1,308,223)
( 633,971)
------------
---------
Net liabilities
( 60,604)
( 168,754)
------------
---------
Capital and reserves
Called up share capital
750
750
Profit and loss account
( 61,354)
( 169,504)
--------
---------
Shareholders deficit
( 60,604)
( 168,754)
--------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Darcy Homes (South) Ltd
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 11 August 2025 , and are signed on behalf of the board by:
Mrs P K Mew
Director
Company registration number: 10888675
Darcy Homes (South) Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Westlink, Belbins Business Park, Cupernham Lane, Romsey, Hampshire, SO51 7JF, England.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The company is dependent on the continued support of its director. The director has given confirmation that she does not intend to withdraw support in the foreseeable future. These financial statements do not include any adjustment which might result from such a withdrawal of support.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 August 2023
5,200
5,338
10,538
Additions
1,065
1,065
-------
-------
--------
At 31 July 2024
5,200
6,403
11,603
-------
-------
--------
Depreciation
At 1 August 2023
2,275
2,785
5,060
Charge for the year
731
1,280
2,011
-------
-------
--------
At 31 July 2024
3,006
4,065
7,071
-------
-------
--------
Carrying amount
At 31 July 2024
2,194
2,338
4,532
-------
-------
--------
At 31 July 2023
2,925
2,553
5,478
-------
-------
--------
6. Debtors
2024
2023
£
£
Other debtors
7,879
10,326
-------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
20,694
30,669
Trade creditors
59,989
Other creditors
680,861
944,249
---------
---------
761,544
974,918
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,308,223
633,971
------------
---------
9. Related party transactions
During the year, there was a loan due from a company controlled by the director of £675,146 (2023 £938,522). This loan is repayable on demand.