Tara Davison Developments Limited 31/12/2024 iXBRL

Company registration number: 09834304

Tara Davison Developments Limited

Pages for filing with Registrar

31 December 2024

Tara Davison Developments Limited

Contents

Statement of financial position

Notes to the financial statements

Tara Davison Developments Limited

Statement of financial position

31 December 2024

		31/12/24		31/12/23
	Note	£	£	£	£

Fixed assets
Tangible assets	5	898,286		898,286
		_______		_______
			898,286		898,286

Current assets
Debtors	6	185,010		185,010
Cash at bank and in hand		14,122		92,332
		_______		_______
		199,132		277,342
Creditors: amounts falling due
within one year	7	( 1,225,661)		( 1,300,683)
		_______		_______
Net current liabilities			( 1,026,529)		( 1,023,341)
			_______		_______
Total assets less current liabilities			( 128,243)		( 125,055)

			_______		_______
Net liabilities			( 128,243)		( 125,055)
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			( 128,343)		( 125,155)
			_______		_______
Shareholders deficit			( 128,243)		( 125,055)
			_______		_______

For the year ending 31 December 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.

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.

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

G Davison

Director

Company registration number: 09834304

Tara Davison Developments Limited

Notes to the financial statements

Year ended 31 December 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 The Grainger Suite, Regent Centre, Gosforth, Newcastle upon Tyne, NE3 3PF.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 entity.

The previous period financial statements were for a fourteen month peiod from 1 November 2022 to 31 December 2023. As such the accounting figures are not entirely comparable.

Going concern

The directors of the company are satisfied that there are no material uncertainties concerning the company's ability to continue as a going concern for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the financial statements continue to be prepared on the going concern basis.

Turnover

Turnover represents rental income receivable during the year.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Investment property

Investment property is measured initially 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.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Freehold property	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	898,286	898,286
	_______	_______
Depreciation
At 1 January 2024 and 31 December 2024	-	-
	_______	_______
Carrying amount
At 31 December 2024	898,286	898,286
	_______	_______
At 31 December 2023	898,286	898,286
	_______	_______

6. Debtors

	31/12/24	31/12/23
	£	£
Other debtors	185,010	185,010
	_______	_______

7. Creditors: amounts falling due within one year

	31/12/24	31/12/23
	£	£
Trade creditors	1,442	711
Corporation tax	-	6,807
Other creditors	1,224,219	1,293,165
	_______	_______
	1,225,661	1,300,683
	_______	_______

8. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	Year	Period	Year	Period
	ended	ended	ended	ended
	31/12/24	31/12/23	31/12/24	31/12/23
	£	£	£	£
Karen Davison Developments Limited	-	85,000	185,010	185,010
Davison Labour Supply Limited	-	( 6,010)	( 66,400)	( 66,400)
Gary Davison Construction Limited	25,000	2,020	( 1,108,692)	( 1,133,692)
Davison Contracts Limited	22,019	( 152,227)	( 31,538)	( 53,557)
	_______	_______	_______	_______

Significant company shareholders are also shareholders of Karen Davison Developments Limited: Davison Labour Supply Limited: Gary Davison Construction Limited and Davison Contracts Limited.All of the above balances are interest free and repayable on demand.