Company No: 14388653 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		29.03.2024
		£		£
Fixed assets
Investments	3	3,578,332		3,578,332
		3,578,332		3,578,332
Creditors: amounts falling due within one year	4	( 3,491,681)		( 3,483,295)
Net current liabilities		(3,491,681)		(3,483,295)
Total assets less current liabilities		86,651		95,037
Net assets		86,651		95,037
Capital and reserves
Called-up share capital	5	102,135		102,135
Profit and loss account	6	( 15,484 )		( 7,098 )
Total shareholders' funds		86,651		95,037

For the financial period ending 31 March 2025 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 financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Devonfields 2022 Limited (registered number: 14388653) were approved and authorised for issue by the Board of Directors on 30 July 2025. They were signed on its behalf by:

B S Rogers Director

A C Pike Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Devonfields 2022 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 Netherway, West Charleton, Kingsbridge, TQ7 2AL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Reporting period length

Reporting period length

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

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.

2. Employees

	Period from 30.03.2024 to 31.03.2025		Period from 30.09.2022 to 29.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	6		6

3. Fixed asset investments

Investments in subsidiaries

	31.03.2025
	£
Cost
At 30 March 2024	3,578,332
At 31 March 2025	3,578,332
Carrying value at 31 March 2025	3,578,332
Carrying value at 29 March 2024	3,578,332

4. Creditors: amounts falling due within one year

	31.03.2025		29.03.2024
	£		£
Amounts owed to Group undertakings	856,293		769,531
Other creditors	2,635,388		2,713,764
	3,491,681		3,483,295

5. Called-up share capital

	31.03.2025		29.03.2024
	£		£
Allotted, called-up and fully-paid
91,135 Ordinary A shares of £ 1.00 each	91,135		91,135
11,000 Ordinary B shares of £ 1.00 each	11,000		11,000
	102,135		102,135

On incorporation, 1 Ordinary A subscriber share was issued.

Following incorporation, a further 91,134 Ordinary A shares have been alloted at par value. A further allotment of 11,000 Ordinary B shares have been alloted at par value.

For both classes of shares alloted, each share entitles the holder to receive notice, attend, speak and vote at any general meeting. Each share share is entitled to participate pari passu in dividend payments or other distributions. Similarly each share is entitled to participate pari passu in any return of capital, liquidation, capital reduction or winding up.

6. Profit and Loss Account

The balance sheet presents a deficit of £15,484 held within the profit and loss account. This deficit has been cleared with income receivable following the balance sheet date. The directors anticipate a surplus within this reserve at end of the next financial period.