DS DEVELOPMENTS (NORFOLK) LIMITED

DS DEVELOPMENTS (NORFOLK) LIMITED - Company Information

2019-06-012020-05-312020-05-31false09573075DS DEVELOPMENTS (NORFOLK) 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Registered Number
09573075
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 May 2020

DS DEVELOPMENTS (NORFOLK) LIMITED

Company Information
for the year from 1 June 2019 to 31 May 2020


Directors	DELPH, Paul
	STOLLERY, Michael


Registered Address	51 Castle Rising Road
	South Wootton
	Kings Lynn
	PE30 3JA


Registered Number	09573075 (England and Wales)

DS DEVELOPMENTS (NORFOLK) LIMITED

Balance Sheet as at
31 May 2020

	Notes	2020		2019
		£	£	£	£
Fixed assets
Tangible assets	5		8,823		11,764
			8,823		11,764
Current assets
Stocks		21,043		10,957
Debtors		25,816		58,935
Cash at bank and on hand		55,823		29,142
		102,682		99,034
Creditors amounts falling due within one year		(68,270)		(93,997)
Net current assets (liabilities)			34,412		5,037
Total assets less current liabilities			43,235		16,801
Creditors amounts falling due after one year			(50,000)		-
Net assets			(6,765)		16,801
Capital and reserves
Called up share capital			100		100
Profit and loss account			(6,865)		16,701
Shareholders' funds			(6,765)		16,801

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 25 May 2021, and are signed on its behalf by:

DELPH, Paul
Director
Registered Company No. 09573075

DS DEVELOPMENTS (NORFOLK) LIMITED

Notes to the Financial Statements
for the year ended 31 May 2020

1.	STATUTORY INFORMATION
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	PRINCIPAL ACTIVITIES
	The principal activity of the company in the year under review was that of building projects.

3.	BASIS OF MEASUREMENT USED IN FINANCIAL STATEMENTS
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover policy
	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.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

		Reducing balance (%)
	Plant and machinery	25
	Vehicles	25

	Inventories policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leases policy
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Going concern
	The accounts have been prepared on a going concern basis taking into account the initial adverse financial impact of COVID-19. Directors loans finance the Company and will not be called for repayment in the short to medium term.

4.	EMPLOYEE INFORMATION

		2020		2019
	Average number of employees during the year	5		4

5.	PROPERTY, PLANT AND EQUIPMENT

		Total £
	Cost or valuation
	At 01 June 19	28,068
	At 31 May 20	28,068
	Depreciation and impairment
	At 01 June 19	16,304
	Charge for year	2,941
	At 31 May 20	19,245
	Net book value
	At 31 May 20	8,823
	At 31 May 19	11,764