Devantier Group Limited Filleted accounts for Companies House (small and micro)

Devantier Group Limited Filleted accounts for Companies House (small and micro)

DEVANTIER GROUP LIMITED - Company Information

Print Friendly Version

2 false false false false false false false false false true false false false false false false No description of principal activity 2019-06-01 Sage Accounts Production Advanced 2020 - FRS102_2019 4,706,489 18,456 4,724,945 4,724,945 4,706,489 xbrli:pure xbrli:shares iso4217:GBP 06593142 2019-06-01 2020-05-31 06593142 2020-05-31 06593142 2018-06-01 2019-05-31 06593142 2019-05-31 06593142 bus:Director1 2019-06-01 2020-05-31 06593142 core:WithinOneYear 2020-05-31 06593142 core:WithinOneYear 2019-05-31 06593142 core:AfterOneYear 2020-05-31 06593142 core:AfterOneYear 2019-05-31 06593142 core:ShareCapital 2020-05-31 06593142 core:ShareCapital 2019-05-31 06593142 core:RevaluationReserve 2020-05-31 06593142 core:RevaluationReserve 2019-05-31 06593142 core:RetainedEarningsAccumulatedLosses 2020-05-31 06593142 core:RetainedEarningsAccumulatedLosses 2019-05-31 06593142 core:CostValuation core:Non-currentFinancialInstruments 2019-05-31 06593142 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2020-05-31 06593142 core:CostValuation core:Non-currentFinancialInstruments 2020-05-31 06593142 core:Non-currentFinancialInstruments 2020-05-31 06593142 core:Non-currentFinancialInstruments 2019-05-31 06593142 bus:SmallEntities 2019-06-01 2020-05-31 06593142 bus:AuditExemptWithAccountantsReport 2019-06-01 2020-05-31 06593142 bus:FullAccounts 2019-06-01 2020-05-31 06593142 bus:SmallCompaniesRegimeForAccounts 2019-06-01 2020-05-31 06593142 bus:PrivateLimitedCompanyLtd 2019-06-01 2020-05-31 06593142 core:AllAssociates 2019-06-01 2020-05-31
COMPANY REGISTRATION NUMBER: 06593142
Devantier Group Limited
Filleted Unaudited Financial Statements
31 May 2020
Devantier Group Limited
Statement of Financial Position
31 May 2020
2020
2019
Note
£
£
£
Fixed assets
Investments
5
4,724,945
4,706,489
Current assets
Debtors
6
7,423,731
7,157,554
Cash at bank and in hand
1,004
21,833
------------
------------
7,424,735
7,179,387
Creditors: amounts falling due within one year
7
1,629,919
1,546,628
------------
------------
Net current assets
5,794,816
5,632,759
-------------
-------------
Total assets less current liabilities
10,519,761
10,339,248
Creditors: amounts falling due after more than one year
8
851,906
968,023
-------------
-------------
Net assets
9,667,855
9,371,225
-------------
-------------
Capital and reserves
Called up share capital
1,650,000
1,650,000
Revaluation reserve
3,432,077
3,413,621
Profit and loss account
4,585,778
4,307,604
------------
------------
Shareholders funds
9,667,855
9,371,225
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Devantier Group Limited
Statement of Financial Position (continued)
31 May 2020
These financial statements were approved by the board of directors and authorised for issue on 26 May 2021 , and are signed on behalf of the board by:
Mr C R Dyason
Director
Company registration number: 06593142
Devantier Group Limited
Notes to the Financial Statements
Year ended 31 May 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Primes Corner, Histon, Cambridge, CB24 9AG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The director has prepared the financial statements on a ongoing concern basis and considers the group has a banking facility sufficient to finance its activities.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Changes in accounting policies
Due to a change in accounting policy in a group company, the revaluation of the investments has been restated to reflect the provision of deferred tax in the subsidiary.Deferred tax is now recognised as a liability on the potential gain which would arise if the underlying investment properties were sold at their restated valuation.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently revalued to reflect the underlying net asset position.
Investments in associates
Investments in associates are stated at original cost less any accumulated impairment losses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 June 2019
4,706,489
Revaluations
18,456
------------
At 31 May 2020
4,724,945
------------
Impairment
At 1 June 2019 and 31 May 2020
–
------------
Carrying amount
At 31 May 2020
4,724,945
------------
At 31 May 2019
4,706,489
------------
Prior to March 2018, the group companies were held through an intermediate holding company, Camflats Limited. In March 2018 Devantier Properties Limited and Sustainable Solar Limited shareholding was restructured so they became direct subsidiaries of Devantier Group Limited . Axis Estates Limited, previously owned by C R Dyason became a 100% subsidiary for the cost of £1.
The investment in subsidiaries was revalued at 31 May 2019 and 2020 to reflect the underlying net assets in the subsidiary accounts.
In the year to 31 May 2020 Devantier Properties Limited had comprehensive income of £107,057 and shareholders funds at 31 May 2020 of £4,393,487
In the year to 31 May 2020 Sustainable Solar Limited had comprehensive income of £11,943 and shareholders funds at 31 May 2020 of £62,418
In the year to 31 May 2020 Axis Estates Limited had comprehensive income of £16,861 and a deficit on shareholders funds of £1,223,940 on 31 May 2020.
6. Debtors
2020
2019
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
757,533
570,880
Other debtors
6,666,198
6,586,674
------------
------------
7,423,731
7,157,554
------------
------------
7. Creditors: amounts falling due within one year
2020
2019
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,131,784
1,082,017
Corporation tax
41,987
61,468
Social security and other taxes
1,816
607
Other creditors
454,332
402,536
------------
------------
1,629,919
1,546,628
------------
------------
8. Creditors: amounts falling due after more than one year
2020
2019
£
£
Other creditors
851,906
968,023
---------
---------
9. Related party transactions
The company was under the control of Mr C R Dyason during the year, shareholder and director.