Deacon Properties (Tunbridge Wells) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 07059862 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Deacon Properties (Tunbridge Wells) Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible fixed assets

4

2,746

5,206

Current assets

Stocks

4,041,241

3,047,611

Debtors

5

31,519

52,008

Cash at bank

1,044

14,967

4,073,804

3,114,586

Creditors: amounts falling due within
one year

6

3,792,521

2,387,109

Net current assets

281,283

727,477

Total assets less current liabilities

284,029

732,683

Capital and reserves

Called up share capital

7

100

Capital Contribution reserve

755,928

Retained earnings

(471,999

)

(23,345

)

Shareholders' funds

284,029

732,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

S T Clews - Director

1.	Statutory information

Deacon Properties (Tunbridge Wells) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07059862

Registered office:

85 Church Road

Hove

East Sussex

BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Plant and machinery - 25% straight line

Computer Equipment - 20% reducing balance

Stocks

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Capitalisation of borrowing costs

Interest on borrowing amounting to £53,587 (2023:£168,588) has been capitalised in these accounts. The impact of this was to increase both work in progress and accruals.

3.	Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4.	Tangible fixed assets

Plant and

Computer

machinery

equipment

Totals

£

Cost

At 1 January 2024

8,135

708

8,843

Additions

2,550

-

2,550

Disposals

(6,950

)

-

(6,950

)

At 31 December 2024

3,735

708

4,443

Depreciation

At 1 January 2024

3,590

47

3,637

Charge for year

2,262

142

2,404

Eliminated on disposal

(4,344

)

-

(4,344

)

At 31 December 2024

1,508

189

1,697

Net book value

At 31 December 2024

2,227

519

2,746

At 31 December 2023

4,545

661

5,206

5.

Debtors: amounts falling due within one year

2024

2023

£

Trade debtors

-

4,843

Other debtors

31,519

47,165

31,519

52,008

6.

Creditors: amounts falling due within one year

2024

2023

£

Trade creditors

45,950

-

Amounts owed to group undertakings

239,193

210,943

Taxation and social security

1,750

2,212

Other creditors

3,505,628

2,173,954

3,792,521

2,387,109

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

8.	Related party disclosures

At the year end, the company owed the director £3,061,852 (2023: £1,838,540).

9.	Ultimate controlling party

In the creditors there is a balance of £239,193 (2023:£210,943) owed to Wealden Investments Limited.