REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST JULY 2021 |
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DEARMAN DEVELOPMENTS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST JULY 2021 |
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FOR |
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DEARMAN DEVELOPMENTS LIMITED |
DEARMAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03756406) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2021 |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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DEARMAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03756406) |
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BALANCE SHEET |
31ST JULY 2021 |
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31.7.21 | 31.7.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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DEARMAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03756406) |
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BALANCE SHEET - continued |
31ST JULY 2021 |
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31.7.21 | 31.7.20 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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DEARMAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03756406) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2021 |
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1. | STATUTORY INFORMATION |
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Dearman Developments Limited is a
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Registered number: |
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Registered office: |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Construction contracts |
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When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to completion of a physical proportion of the contract work or the completion of a proportion of the service contract. |
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Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable. |
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When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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DEARMAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03756406) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Government grants |
Coronavirus Job Retention Scheme grants have been accounted for on an accruals basis. |
The interest paid for by the Government in respect of Coronavirus Business Interruption Loans and Bounce Back Loans is shown in the profit and loss account as Government Grants income and also bank loan interest expenditure. |
Grants received from local councils are accounted for in the profit and loss account when received. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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DEARMAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03756406) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2021 |
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4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1st August 2020 |
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Additions |
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At 31st July 2021 |
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DEPRECIATION |
At 1st August 2020 |
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Charge for year |
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At 31st July 2021 |
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NET BOOK VALUE |
At 31st July 2021 |
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At 31st July 2020 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st August 2020 |
and 31st July 2021 |
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NET BOOK VALUE |
At 31st July 2021 |
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At 31st July 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.21 | 31.7.20 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
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DEARMAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03756406) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.21 | 31.7.20 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation |
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CIS tax | 2,927 | 1,230 |
VAT | 38,967 | 19,666 |
Other creditors |
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Directors' current accounts | 7,187 | 537,403 |
Accruals and deferred income |
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Accrued expenses |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.21 | 31.7.20 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 8,029 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.21 | 31.7.20 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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10. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £270,000 (2020 - £40,000) were paid to the directors . |
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During the year the company provided construction services to its subsidiary company Dearman Developments (Hare Street) Limited in the amount of £139,525. |
At the balance sheet date the company owed £25,000 to Dearman Developments (Hare Street) Limited. |
DEARMAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03756406) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2021 |
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11. | ULTIMATE CONTROLLING PARTY |
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The company is under the day to day control and ultimate control of the directors. |