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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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ID DEVELOPMENTS (UK) LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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for |
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ID DEVELOPMENTS (UK) LIMITED |
ID DEVELOPMENTS (UK) LIMITED (REGISTERED NUMBER: 08371065) |
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Contents of the Financial Statements |
for the year ended 31 March 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ID DEVELOPMENTS (UK) LIMITED |
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Company Information |
for the year ended 31 March 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
9 Worton Park |
Cassington |
Witney |
Oxfordshire |
OX29 4SX |
ID DEVELOPMENTS (UK) LIMITED (REGISTERED NUMBER: 08371065) |
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Balance Sheet |
31 March 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 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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ID DEVELOPMENTS (UK) LIMITED (REGISTERED NUMBER: 08371065) |
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Notes to the Financial Statements |
for the year ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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ID Developments (UK) Limited is a
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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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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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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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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2021 |
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Additions |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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Fair value at 31 March 2022 is represented by: |
£ |
Valuation in 2021 | 73,682 |
Cost | 5,459,783 |
5,533,465 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
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ID DEVELOPMENTS (UK) LIMITED (REGISTERED NUMBER: 08371065) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2022 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Bank overdraft |
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Bank loans |
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The Director has guaranteed the bank overdraft by charging a personal asset to Barclays Bank. |
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Interbay Funding held a charge over 9 Linton Road for the term of the development in respect of the loan provided. Interest accrued on this daily. The charge was satisfied by the Company on 2nd June 2021 (amount outstanding at 31st March 2021 was £274,281). |
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9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2021 |
and 31 March 2022 |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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As at 31st March 2022, ID Developments (UK) Limited owed its director, Mrs N Dickson, £1,521,319 (£1,708,991 in 2021). The loan is interest free and is shown within other creditors. |
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11. | RELATED PARTY DISCLOSURES |
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A company controlled by a director provided a loan to ID Developments (UK) Limited. |
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As at 31st March 2022, the balance owing by ID Developments (UK) Limited to the entity was £2,000,000 (£2,000,000 in 2021). The loan is interest free and is shown within other creditors. |