Devils Bridge Homes Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13910120 (England and Wales)

Financial Statements

for the Period

11 February 2022 to 31 March 2023

for

Devils Bridge Homes Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

S Lyle

REGISTERED OFFICE:

Tanrallt

Capel Bangor

Aberystwyth

Ceredigion

SY23 4EL

REGISTERED NUMBER:

13910120 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

28 Church Road

Stanmore

Middlesex

HA7 4XR

FIXED ASSETS

Tangible assets

4

167,576

CURRENT ASSETS

Stocks

741,136

Debtors

5

160,095

Cash at bank

6,502

907,733

CREDITORS

Amounts falling due within one year

6

(1,022,823

)

NET CURRENT LIABILITIES

(115,090

)

TOTAL ASSETS LESS CURRENT LIABILITIES

52,486

CREDITORS

Amounts falling due after more than one year

7

(52,386

)

NET ASSETS

100

CAPITAL AND RESERVES

Called up share capital

100

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 May 2024 and were signed by:

S Lyle - Director

1.	STATUTORY INFORMATION

Devils Bridge Homes 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Stocks of development properties are stated at the lower of cost and net realisable value and include all associated costs of acquisition and development.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

173,576

Disposals

(6,000

)

At 31 March 2023

167,576

NET BOOK VALUE

At 31 March 2023

167,576

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

160,095

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

872,373

Hire purchase contracts

73,854

Trade creditors

12,031

Other creditors

64,565

1,022,823

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

52,386

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

872,373

Hire purchase contracts

126,240

998,613

The bank loan is secured over all of the company's development properties.

The company has acquired plant and machinery under various hire purchase agreements.