David Cole Developments Limited - Period Ending 2021-12-31

David Cole Developments Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

David Cole Developments Limited

Company Information

Directors

D Cole F M Cole

Registered office

Lowin House Tregolls Road Truro Cornwall TR1 2NA

Accountants

Francis Clark LLP Lowin House Tregolls Road Truro Cornwall TR1 2NA

David Cole Developments Limited

Balance Sheet

31 December 2021

	Note	31 December 2021 £	31 December 2020 £
Fixed assets
Investments	4	1	1
Current assets
Debtors	5	68,099	128,099
Net assets		68,100	128,100
Capital and reserves
Called up share capital	6	100	100
Profit and loss account		68,000	128,000
Total equity		68,100	128,100

David Cole Developments Limited

Balance Sheet

31 December 2021

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 September 2022 and signed on its behalf by:
 

......................................... D Cole Director

Company Registration Number: 08922750

David Cole Developments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

The principal place of business is:
Trethellan Barn
Trevean Way
Newquay
Cornwall
TR7 1TW

These financial statements were authorised for issue by the Board on 14 September 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

David Cole Developments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2021

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.




 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

4	Investments

	31 December 2021 £	31 December 2020 £
Investments in subsidiaries	1	1

Subsidiaries	£
Cost or valuation
At 1 January 2021 and 31 December 2021	1
Provision
At 1 January 2021 and 31 December 2021	-
Carrying amount
At 31 December 2021	1
At 31 December 2020	1

David Cole Developments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2021

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			31 December 2021	31 December 2020
Subsidiary undertakings
DCD (St Marina) Limited	Lowin House, Tregolls Road, Truro, Cornwall TR1 2NA	Ordinary shares	100%	100%
	England and Wales

The principal activity of DCD (St Marina) Limited is that of property development.

5

Debtors

	Note	31 December 2021 £	31 December 2020 £
Amounts owed by related parties	7	67,999	127,999
Other debtors		100	100
		68,099	128,099

David Cole Developments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2021

6	Share capital

Allotted, called up and fully paid shares

	31 December 2021		31 December 2020
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

7	Related party transactions

Summary of transactions with all subsidiaries

DCD (St Marina) Limited
 Interest free loan
  The company operates a loan account with DCD (St Marina) Limited. At 31 December 2021 the amount due from DCD (St Marina) Limited was £67,999 (2020 £127,999).