REGISTERED NUMBER: 03554668 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

DEVONSHIRE PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr B G Clarke

REGISTERED OFFICE:

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

REGISTERED NUMBER:

03554668 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

BANKERS:

Royal Bank of Scotland

Broadwalk House

Southernhay West

Exeter

Devon

EX1 1TZ

FIXED ASSETS

Tangible assets

4

5,353,000

5,054,416

CURRENT ASSETS

Stocks

5

78,500

240,050

Debtors

6

209,369

85,457

Cash at bank

962,091

230,674

1,249,960

556,181

CREDITORS

Amounts falling due within one year

7

1,337,473

221,756

NET CURRENT (LIABILITIES)/ASSETS

(87,513

)

334,425

TOTAL ASSETS LESS CURRENT LIABILITIES

5,265,487

5,388,841

CREDITORS

Amounts falling due after more than one year

8

(425,604

)

(489,329

)

PROVISIONS FOR LIABILITIES

(49,309

)

(49,309

)

NET ASSETS

4,790,574

4,850,203

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

4,790,572

4,850,201

SHAREHOLDERS' FUNDS

4,790,574

4,850,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Mr B G Clarke - Director

1.	STATUTORY INFORMATION

Devonshire Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

at varying rates on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2024

4,860,589

574,126

20,643

5,455,358

Additions

311,165

36,500

-

347,665

At 31 March 2025

5,171,754

610,626

20,643

5,803,023

DEPRECIATION

At 1 April 2024

5,810

383,891

11,241

400,942

Charge for year

2,324

45,347

1,410

49,081

At 31 March 2025

8,134

429,238

12,651

450,023

NET BOOK VALUE

At 31 March 2025

5,163,620

181,388

7,992

5,353,000

At 31 March 2024

4,854,779

190,235

9,402

5,054,416

5.

STOCKS

2025

2024

£

£

Stocks

78,500

240,050

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

100,787

55,644

Other debtors

71,212

29,547

Tax

18,841

-

VAT

18,529

-

Prepayments

-

266

209,369

85,457

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

60,000

54,422

Trade creditors

-

8,805

Tax

-

68,020

VAT

-

9,429

Other creditors

50,000

190

Directors' current accounts

1,222,458

75,855

Accrued expenses

5,015

5,035

1,337,473

221,756

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

234,829

217,689

Bank loans more 5 yr by instal

190,775

271,640

425,604

489,329

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

190,775

271,640

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr B G Clarke

Balance outstanding at start of year

(75,855

)

(100,742

)

Amounts advanced

449,366

25,083

Amounts repaid

(1,595,970

)

(196

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,222,459

)

(75,855

)