|
Registered number: 03072593
|
|
Durham Gate Limited
Financial statements
Information for filing with the registrar
31 December 2025
|
|
|
|
Balance sheet
At 31 December 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
Balance sheet (continued)
At 31 December 2025
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 August 2026.
Registered number: 03072593
The notes on pages 3 to 5 form part of these financial statements.
2
|
|
Notes to the financial statements
Year ended 31 December 2025
Durham Gate Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is No.4 Durhamgate, Spennymoor, Durham, DL16 6FY.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The following principal accounting policies have been applied:
Income from the sale of developments is recognised in the profit and loss accounts once a binding contract of sale exists. Income is recognised to the extent that the company has obtained the right to consideration through its performance.
Other income includes rent receivable from certain properties held in stock and development land.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of works done in the period, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion once the outcome can be forseen with reasonable certainty.
Negative goodwill as a result of business combinations where the consideration is less than the fair value of the net identifiable assets of the joint venture acquired. The difference is recognised as negative goodwill and amortised based upon when the economic benefit is due to the company.
|
|
|
Stocks and work in progress
|
Work in progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
|
|
The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
|
3
|
|
Notes to the financial statements
Year ended 31 December 2025
|
|
At 31 December 2025 the directors consider the realisable value of work in progress to be £4,500,000.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
Notes to the financial statements
Year ended 31 December 2025
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank loans are secured by a fixed charge on freehold land and properties included within work in progress as development land.
|
|
|
Related party transactions
|
|
|
Included in other debtors at 31 December 2025 is £760,023 (2024: £415,023) due from Arlington (West Hartford) Limited, a company under common control. The loan is unsecured, repayable on demand and incurs no interest.
|
5
|