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Registered number: 08303873
Devassist Limited
Unaudited Financial Statements
For The Year Ended 30 November 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08303873
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 16,877 22,102
16,877 22,102
CURRENT ASSETS
Debtors 6 288,393 297,216
Cash at bank and in hand 46,416 48,042
334,809 345,258
Creditors: Amounts Falling Due Within One Year 7 (174,041 ) (200,376 )
NET CURRENT ASSETS (LIABILITIES) 160,768 144,882
TOTAL ASSETS LESS CURRENT LIABILITIES 177,645 166,984
Creditors: Amounts Falling Due After More Than One Year 8 (124,519 ) (159,632 )
NET ASSETS 53,126 7,352
CAPITAL AND RESERVES
Called up share capital 10 7,000 7,000
Profit and Loss Account 46,126 352
SHAREHOLDERS' FUNDS 53,126 7,352
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For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Addison
Director
19/08/2026
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Devassist Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08303873 . The registered office is 78 High Street, Hurstpierpoint, Hassocks, BN6 9RQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are intellectual property. It is amortised to the profit and loss account over its estimated economic life of nil years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 6)
7 6
4. Intangible Assets
Intellectual Property
£
Cost
As at 30 November 2024 120,000
As at 30 November 2025 120,000
Amortisation
As at 30 November 2024 120,000
As at 30 November 2025 120,000
Net Book Value
As at 30 November 2025 -
As at 30 November 2024 -
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5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 30 November 2024 18,490 - 14,250 32,740
Additions - 1,454 - 1,454
As at 30 November 2025 18,490 1,454 14,250 34,194
Depreciation
As at 30 November 2024 1,393 - 9,245 10,638
Provided during the period 4,623 155 1,901 6,679
As at 30 November 2025 6,016 155 11,146 17,317
Net Book Value
As at 30 November 2025 12,474 1,299 3,104 16,877
As at 30 November 2024 17,097 - 5,005 22,102
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 71,672 61,902
Other debtors 216,721 235,314
288,393 297,216
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 1,810 1,810
Trade creditors 24,720 24,407
Bank loans and overdrafts 44,218 48,635
Other creditors 20,022 31,149
Taxation and social security 83,271 94,375
174,041 200,376
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 11,918 13,728
Bank loans 112,601 145,904
124,519 159,632
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9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,512 3,512
Later than one year and not later than five years 13,054 16,565
16,566 20,077
Less: Finance charges allocated to future periods 2,838 4,539
13,728 15,538
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 7,000 7,000
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 30 November 2024 Amounts advanced Amounts repaid Amounts written off As at 30 November 2025
£ £ £ £ £
Mr Paul Addison 180,167 - (17,511 ) - 162,656
The above loan is unsecured and repayable on demand. Interest has been charged on the overdrawn loan balance at 2.25% between 01st December 2025 to 31st March 2026. There after, interest has been charged on the overdrawn loan balance at 3.75% between 01st April 2026 to 30th November 2025.
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