D V Developments Southwest Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09271820 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2018

for

D V Developments Southwest Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D J Welch

Mr V Welch

REGISTERED OFFICE:

Unit 4

Pensilva Industrial Estate

St Ive Road

Pensilva

Cornwall

PL14 5RE

REGISTERED NUMBER:

09271820 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

The Parade

Liskeard

Cornwall

PL14 6AF

CURRENT ASSETS

Stocks

203,921

19,697

Debtors

4

2,473

1,765

Cash at bank

2,538

2,070

208,932

23,532

CREDITORS

Amounts falling due within one year

5

218,525

30,954

NET CURRENT LIABILITIES

(9,593

)

(7,422

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,593

)

(7,422

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(9,693

)

(7,522

)

SHAREHOLDERS' FUNDS

(9,593

)

(7,422

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 30 July 2019 and were signed on its behalf by:

Mr D J Welch - Director

Mr V Welch - Director

1.	STATUTORY INFORMATION

D V Developments Southwest Ltd is a private company, limited by shares , registered in England and Wales.

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.

The directors have prepared the financial statements on a going concern basis, on the understanding that they

will continue to provide financial support if it is required and, accordingly, the financial statements do not include

any adjustments that would result if this support were not forthcoming.

TURNOVER

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the

company obtains right to consideration.

STOCKS

Work in progress is valued at the lower of cost and net realisable value.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Deferred tax asset

2,473

1,765

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Folk to Folk Loan

110,000

-

Amounts owed to associates

59,150

3,552

Directors' current accounts

48,705

26,802

Accrued expenses

670

600

218,525

30,954

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is a balance of £48,705 (2017: £26,802) owed to Mr D J Welch & Mr V Welch, the

directors of the company. This balance bears no interest and has no fixed terms of repayment.

7.	RELATED PARTY DISCLOSURES

Included within creditors is an amount owed to DJW Build Ltd, an associated company, totalling £59,150 (2017:

£3,552). This balance bears no interest and is repayable on demand.