Doods Park Developments Ltd - Accounts to registrar (filleted) - small 23.1.2

Doods Park Developments Ltd - Accounts to registrar (filleted) - small 23.1.2

DOODS PARK DEVELOPMENTS LTD - Company Information

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REGISTERED NUMBER: 12291870 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

DOODS PARK DEVELOPMENTS LTD
DOODS PARK DEVELOPMENTS LTD (REGISTERED NUMBER: 12291870)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


DOODS PARK DEVELOPMENTS LTD

COMPANY INFORMATION
For The Year Ended 31 OCTOBER 2022







DIRECTOR: Mr A J Patel





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 12291870 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA
Page 1
DOODS PARK DEVELOPMENTS LTD (REGISTERED NUMBER: 12291870)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 10 10

CURRENT ASSETS
Inventories 4,444,863 3,398,203
Debtors 5 54,290 66,520
Cash at bank and in hand 36,322 854
4,535,475 3,465,577
CREDITORS
Amounts falling due within one year 6 1,619,539 1,567,420
NET CURRENT ASSETS 2,915,936 1,898,157
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,915,946
1,898,167

CREDITORS
Amounts falling due after more than one
year
7
2,931,082
1,909,324
NET LIABILITIES (15,136 ) (11,157 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (15,236 ) (11,257 )
(15,136 ) (11,157 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 July 2023 and were signed by:





Mr A J Patel - Director


The notes form part of these financial statements

Page 2
DOODS PARK DEVELOPMENTS LTD (REGISTERED NUMBER: 12291870)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2022

1. STATUTORY INFORMATION

Doods Park Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Properties held for trading and work in progress
Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis. The cost of work in progress and finished goods includes all production overheads and the attributable proportion of indirect overheads based on normal level of activity. Net realisable value is based on estimated selling price less the estimated cost of disposal.

Interest on borrowings which are specific to projects are capitalised as part of the development costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Page 3 continued...
DOODS PARK DEVELOPMENTS LTD (REGISTERED NUMBER: 12291870)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2022

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2021
and 31 October 2022 10
NET BOOK VALUE
At 31 October 2022 10
At 31 October 2021 10

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 54,290 66,520

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 78,776 80,933
Other creditors 1,530,763 1,476,487
1,619,539 1,567,420

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 2,931,082 1,909,324

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,896,506 1,869,324

Page 4 continued...
DOODS PARK DEVELOPMENTS LTD (REGISTERED NUMBER: 12291870)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2022

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loan 2,896,506 1,869,324

The bank loan is secured by way of fixed and floating charge on the property of the company and contains a negative pledge.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other creditors is an amount of £220,096 (2021: £272,985) owed to the director of the company and £102,000 payable to a connected entity, under common control. The loan is interest free and repayable on demand.

Page 5