REGISTERED NUMBER: 05037898

DEVESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr. J D Devonald

Miss L H Devonald

Mr. R T Johns

REGISTERED OFFICE:

56 Charles Street

Cardiff

CF10 2GG

REGISTERED NUMBER:

05037898

ACCOUNTANTS:

Carston ETL

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

FIXED ASSETS

Tangible assets

4

176

220

Investments

5

3,089,747

3,089,747

Investment property

6

422,075

404,546

3,511,998

3,494,513

CURRENT ASSETS

Debtors

7

552,136

695,406

Cash at bank

2,121

12,489

554,257

707,895

CREDITORS

Amounts falling due within one year

8

981,474

292,686

NET CURRENT (LIABILITIES)/ASSETS

(427,217

)

415,209

TOTAL ASSETS LESS CURRENT LIABILITIES

3,084,781

3,909,722

CREDITORS

Amounts falling due after more than one year

9

810

4,108

NET ASSETS

3,083,971

3,905,614

CAPITAL AND RESERVES

Called up share capital

10

1

1

Fair value reserve

11

3,077,194

3,077,194

Retained earnings

6,776

828,419

SHAREHOLDERS' FUNDS

3,083,971

3,905,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th November 2025 and were signed on its behalf by:

Mr. J D Devonald - Director

1.	STATUTORY INFORMATION

Devestates Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Plant and machinery

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 29th February 2024

and 28th February 2025

5,000

DEPRECIATION

At 29th February 2024

4,780

Charge for year

44

At 28th February 2025

4,824

NET BOOK VALUE

At 28th February 2025

176

At 28th February 2024

220

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 29th February 2024

and 28th February 2025

3,089,747

NET BOOK VALUE

At 28th February 2025

3,089,747

At 28th February 2024

3,089,747

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 29th February 2024

404,546

Additions

17,529

At 28th February 2025

422,075

NET BOOK VALUE

At 28th February 2025

422,075

At 28th February 2024

404,546

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

552,136

695,406

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

2,980

3,014

Taxation and social security

16,349

20,908

Other creditors

962,145

268,764

981,474

292,686

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

810

4,108

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

11.

RESERVES

Fair

value

reserve

£

At 29th February 2024

and 28th February 2025

3,077,194

12.	RELATED PARTY DISCLOSURES

At the balance sheet date £551,580 (2024 - £506,124) was owed by MC199 Limited, a company in which Mr. J.D. Devonald is a director and shareholder. The balance is repayable on demand and is charged at an interest rate of 3.5% above base rate per annum.