7 5 North Devon + 06238026 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is to develop the North Devon area with the aim of building the economy, increasing tourism and regenerating Digita Accounts Production Advanced 6.30.9574.0 true 06238026 2024-04-01 2025-03-31 06238026 2025-03-31 06238026 core:CurrentFinancialInstruments 2025-03-31 06238026 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 06238026 core:OfficeEquipment 2025-03-31 06238026 bus:SmallEntities 2024-04-01 2025-03-31 06238026 bus:Audited 2024-04-01 2025-03-31 06238026 bus:FilletedAccounts 2024-04-01 2025-03-31 06238026 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 06238026 bus:RegisteredOffice 2024-04-01 2025-03-31 06238026 bus:Director6 2024-04-01 2025-03-31 06238026 bus:CompanyLimitedByGuarantee 2024-04-01 2025-03-31 06238026 core:OfficeEquipment 2024-04-01 2025-03-31 06238026 countries:EnglandWales 2024-04-01 2025-03-31 06238026 2023-04-01 2024-03-31 06238026 2024-03-31 06238026 core:CurrentFinancialInstruments 2024-03-31 06238026 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 xbrli:pure iso4217:GBP

Registration number: 06238026

North Devon +
(A company limited by guarantee)
Filleted Financial Statements
for the Year Ended 31 March 2025

North Devon +

Contents

Statement of Financial Position | 1
Notes to the Financial Statements | 2 to 6

North Devon +

(Registration number: 06238026)
Statement of Financial Position as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 2,166 | -
Current assets |  |  |
Debtors | 5 | 6,804 | 15,783
Cash at bank and in hand |  | 561,185 | 530,937
|  | 567,989 | 546,720
Creditors: Amounts falling due within one year | 6 | (58,516) | (121,113)
Net current assets |  | 509,473 | 425,607
Net assets |  | 511,639 | 425,607
Reserves |  |  |
Profit and loss account |  | 511,639 | 425,607
Members funds |  | 511,639 | 425,607

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 directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 27 January 2026 and signed on its behalf by:

Mr Ken Miles Director

North Devon +

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Riverbank House
Bideford
Devon
EX39 2QG

Principal activity

The principal activity of the company is to develop the North Devon area with the aim of building the economy, increasing tourism and regenerating

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.

North Devon +

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 28 January 2026 was Catherine Williams FCA DChA, who signed for and on behalf of Westcotts (SW) LLP.

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 the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 33.3% straight line

North Devon +

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

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.

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 directors) during the year, was 7 (2024 - 5).

North Devon +

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

4 | Tangible assets

| Office equipment £ | Total £
Cost or valuation
Additions | 3,249 | 3,249
At 31 March 2025 | 3,249 | 3,249
Depreciation
Charge for the year | 1,083 | 1,083
At 31 March 2025 | 1,083 | 1,083
Carrying amount
At 31 March 2025 | 2,166 | 2,166

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 1,244 | -
Prepayments | 5,560 | 2,085
Accrued income | - | 13,698
| 6,804 | 15,783

North Devon +

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 5,392 | 2,719
Taxation and social security | 4,966 | 7,407
Accruals and deferred income | 15,849 | 28,589
Other creditors | 32,309 | 82,398
| 58,516 | 121,113

7 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.