Devcor (Whitewater) Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 5

Devcor (Whitewater) Limited

(Registration number: 09434195)
Statement of Financial Position as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	398,969	398,969
Current assets
Debtors	5	6,113	13,086
Cash at bank and in hand		6,227	2,581
		12,340	15,667
Creditors: Amounts falling due within one year	6	(248,518)	(249,509)
Net current liabilities		(236,178)	(233,842)
Total assets less current liabilities		162,791	165,127
Creditors: Amounts falling due after more than one year	6	(135,000)	(135,000)
Net assets		27,791	30,127
Capital and reserves
Called up share capital		100	100
Profit and loss account		27,691	30,027
Shareholders' funds		27,791	30,127

For the financial year ending 28 February 2025 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 17 September 2025
 

Mr Richard Dudley Steer Director

Devcor (Whitewater) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
2 Berkeley Cottages
Collingwood Road
Stoke
Plymouth
Devon
PL1 5QT

Principal activity

The principal activity of the company is the ownership and letting of residential property.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises rents receivable on the company's long leasehold property.
The company is not registered for VAT.

Devcor (Whitewater) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are initially stated in the statement of financial position at cost, and are subsequently restated at market value if there has been a significant increase in their carrying value.

No depreciation is charged because the properties are considered to be investment properties.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 3).

Devcor (Whitewater) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

4	Tangible assets

	Long leasehold land and buildings £	Total £
Cost or valuation
At 1 March 2024	398,969	398,969
At 28 February 2025	398,969	398,969
Depreciation
Carrying amount
At 28 February 2025	398,969	398,969
At 29 February 2024	398,969	398,969

Included within the net book value of land and buildings above is £398,969 (2024 - £398,969) in respect of long leasehold land and buildings.
 

5

Debtors

	Note	2025 £	2024 £
Trade debtors		878	1,573
Amounts owed by companies under common control		3,013	9,013
Other debtors		2,222	2,500
		6,113	13,086

Devcor (Whitewater) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	477	-
Taxation and social security	-	1,516
Accruals and deferred income	2,187	2,139
Other creditors	245,854	245,854
	248,518	249,509

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	135,000	135,000

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Other borrowings	135,000	135,000