28/02/2019
2019-02-28
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No description of principal activities is disclosed
2018-03-01
Sage Accounts Production 19.0 - FRS102_2014
xbrli:pure
xbrli:shares
iso4217:GBP
09434195
2018-03-01
2019-02-28
09434195
2019-02-28
09434195
2018-02-28
09434195
bus:Director1
2018-03-01
2019-02-28
09434195
core:WithinOneYear
2019-02-28
09434195
core:WithinOneYear
2018-02-28
09434195
core:LandBuildings
core:LongLeaseholdAssets
2019-02-28
09434195
core:AfterOneYear
2019-02-28
09434195
core:AfterOneYear
2018-02-28
09434195
core:ShareCapital
2019-02-28
09434195
core:ShareCapital
2018-02-28
09434195
core:RetainedEarningsAccumulatedLosses
2019-02-28
09434195
core:RetainedEarningsAccumulatedLosses
2018-02-28
09434195
core:LandBuildings
core:LongLeaseholdAssets
2018-02-28
09434195
bus:SmallEntities
2018-03-01
2019-02-28
09434195
bus:AuditExemptWithAccountantsReport
2018-03-01
2019-02-28
09434195
bus:FullAccounts
2018-03-01
2019-02-28
09434195
bus:SmallCompaniesRegimeForAccounts
2018-03-01
2019-02-28
09434195
bus:PrivateLimitedCompanyLtd
2018-03-01
2019-02-28
09434195
core:LandBuildings
core:LongLeaseholdAssets
2018-03-01
2019-02-28
09434195
core:AfterOneYear
2018-03-01
2019-02-28
Company registration number:
09434195
Devcor (Whitewater) Limited
Unaudited filleted financial statements
28 February 2019
DEVCOR (WHITEWATER) LIMITED
Contents
Statement of financial position
Notes to the financial statements
DEVCOR (WHITEWATER) LIMITED
STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2019
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2019
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2018
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Note
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£
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£
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£
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£
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|
|
|
|
|
|
Fixed assets
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|
|
|
|
|
|
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|
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Tangible assets
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5
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531,959
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|
|
531,959
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|
|
|
|
|
_______
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|
|
|
_______
|
|
|
|
|
|
|
|
531,959
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|
|
|
531,959
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|
|
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|
|
|
|
|
|
Current assets
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|
|
|
|
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|
|
|
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Debtors
|
|
6
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6,419
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|
|
|
-
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|
|
Cash at bank and in hand
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|
|
664
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|
446
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|
|
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|
|
_______
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|
_______
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|
|
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|
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7,083
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|
|
|
446
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|
|
Creditors: amounts falling due
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|
|
|
|
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|
|
|
|
within one year
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|
7
|
(
275,116)
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|
|
|
(
266,649)
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|
|
|
|
|
_______
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|
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_______
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Net current liabilities
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|
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(
268,033)
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|
|
(
266,203)
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|
|
|
|
|
_______
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_______
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Total assets less current liabilities
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263,926
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|
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265,756
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|
|
|
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Creditors: amounts falling due
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|
|
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|
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|
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|
|
after more than one year
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|
8
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|
|
(
252,939)
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|
|
|
(
265,050)
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|
|
|
|
|
_______
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|
|
|
_______
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Net assets
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10,987
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|
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|
706
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_______
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_______
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Capital and reserves
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Called up share capital
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|
|
|
|
100
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|
|
|
100
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Profit and loss account
|
|
9
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|
|
10,887
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|
|
606
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|
|
|
|
|
_______
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_______
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Shareholder funds
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10,987
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|
706
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_______
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_______
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For the year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 November 2019
, and are signed on behalf of the board by:
Mr Timothy John Burke
Director
Company registration number:
09434195
DEVCOR (WHITEWATER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 72 Fielding Road, Chiswick, London, W4 1DB.
Principal activity
The principal activity of the company is the ownership and letting of residential property.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts received in respect of rental income. The company is not registered for Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses. No depreciation is provided on the long leasehold property because , in the opinion of the directors, its current value is greater than its carrying value.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Long leasehold property
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-
|
0 %
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|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year, including the two directors who receive no remuneration, amounted to 2 (2018: 2).
5.
Tangible assets
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Long leasehold property
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Total
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|
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|
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|
£
|
£
|
|
|
|
|
|
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Cost
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|
At 1 March 2018 and 28 February 2019
|
531,959
|
531,959
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|
|
|
|
|
|
_______
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_______
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|
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Depreciation
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At 1 March 2018 and 28 February 2019
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-
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-
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_______
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_______
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Carrying amount
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At 28 February 2019
|
531,959
|
531,959
|
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|
|
|
|
|
|
_______
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_______
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|
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At 28 February 2018
|
531,959
|
531,959
|
|
|
|
|
|
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|
_______
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_______
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|
|
|
|
|
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6.
Debtors
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Other debtors
|
|
6,419
|
-
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
23,183
|
23,183
|
|
Accruals and deferred income
|
|
3,467
|
3,417
|
|
Social security and other taxes
|
|
2,611
|
199
|
|
Other creditors
|
|
245,855
|
239,850
|
|
|
|
_______
|
_______
|
|
|
|
275,116
|
266,649
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
252,939
|
265,050
|
|
|
|
_______
|
_______
|
|
|
|
|
|
The bank loans are secured against the long leasehold property
9.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.