Devonshire Yard Properties Limited

Devonshire Yard Properties Limited

DEVONSHIRE YARD PROPERTIES LIMITED - Company Information

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Company Registration No. 13427156 (England and Wales)
Devonshire Yard Properties Limited Unaudited accounts for the year ended 31 March 2023
Devonshire Yard Properties Limited Unaudited accounts Contents
Page
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Devonshire Yard Properties Limited Company Information for the year ended 31 March 2023
Directors
Robert William Ashforth Emma Jane Victoria Ashforth
Company Number
13427156 (England and Wales)
Registered Office
28 Clifton York Yorkshire YO30 6AE
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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Devonshire Yard Properties Limited Accountants' report
Accountants' report to the board of directors of Devonshire Yard Properties Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Devonshire Yard Properties Limited for the year ended 31 March 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Devonshire Yard Properties Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Devonshire Yard Properties Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Devonshire Yard Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Devonshire Yard Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Devonshire Yard Properties Limited. You consider that Devonshire Yard Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Devonshire Yard Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 31 August 2023
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Devonshire Yard Properties Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
4
2,051,000 
1,840,000 
Current assets
Debtors
5
67,741 
24,211 
Cash at bank and in hand
986,085 
463 
1,053,826 
24,674 
Creditors: amounts falling due within one year
6
(1,797,268)
(1,834,485)
Net current liabilities
(743,442)
(1,809,811)
Total assets less current liabilities
1,307,558 
30,189 
Creditors: amounts falling due after more than one year
7
(1,212,500)
- 
Net assets
95,058 
30,189 
Capital and reserves
Called up share capital
30 
30 
Revaluation reserve
58,964 
- 
Profit and loss account
36,064 
30,159 
Shareholders' funds
95,058 
30,189 
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2023 and were signed on its behalf by
Robert William Ashforth Director Company Registration No. 13427156
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Devonshire Yard Properties Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Devonshire Yard Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 13427156. The registered office is 28 Clifton, York, Yorkshire, YO30 6AE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Investment property
2023 
£ 
Fair value at 1 April 2022
1,840,000 
Additions
152,036 
Net gain from fair value adjustments
58,964 
At 31 March 2023
2,051,000 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
67,741 
24,211 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
5,140 
7,074 
Other creditors
1,529,231 
1,528,067 
Loans from directors
261,901 
298,348 
Accruals
996 
996 
1,797,268 
1,834,485 
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Devonshire Yard Properties Limited Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
1,212,500 
- 
8
Transactions with related parties
Included in current assets are related company loans of £ 67,741 (2022 - £8,461). Included in current liabilities are related company loans of £1,127,525 (2022 - £1,114,502) from group companies. No interest has been charged and the loans are repayable on demand. Included in current liabilities is a loan of £401,706 (2022 - £412,694) from Devonshire Estate Holdings LLP, a related LLP. Interest of £14,619 (2022 - £12,437) has been charged for the year and the loan is repayable on demand.
9
Controlling party
Devonshire Group Holdings Limited 28 Clifton York YO30 6AE England
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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