Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-302020-12-0144falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04594345 2020-12-01 2021-11-30 04594345 2019-12-01 2020-11-30 04594345 2021-11-30 04594345 2020-11-30 04594345 c:Director1 2020-12-01 2021-11-30 04594345 d:PlantMachinery 2020-12-01 2021-11-30 04594345 d:PlantMachinery 2021-11-30 04594345 d:PlantMachinery 2020-11-30 04594345 d:PlantMachinery d:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 04594345 d:MotorVehicles 2020-12-01 2021-11-30 04594345 d:MotorVehicles 2021-11-30 04594345 d:MotorVehicles 2020-11-30 04594345 d:MotorVehicles d:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 04594345 d:OfficeEquipment 2020-12-01 2021-11-30 04594345 d:OfficeEquipment 2021-11-30 04594345 d:OfficeEquipment 2020-11-30 04594345 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 04594345 d:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 04594345 d:CurrentFinancialInstruments 2021-11-30 04594345 d:CurrentFinancialInstruments 2020-11-30 04594345 d:Non-currentFinancialInstruments 2021-11-30 04594345 d:Non-currentFinancialInstruments 2020-11-30 04594345 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 04594345 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 04594345 d:Non-currentFinancialInstruments d:AfterOneYear 2021-11-30 04594345 d:Non-currentFinancialInstruments d:AfterOneYear 2020-11-30 04594345 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-11-30 04594345 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-11-30 04594345 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-11-30 04594345 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-11-30 04594345 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-11-30 04594345 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-11-30 04594345 d:ShareCapital 2021-11-30 04594345 d:ShareCapital 2020-11-30 04594345 d:RetainedEarningsAccumulatedLosses 2021-11-30 04594345 d:RetainedEarningsAccumulatedLosses 2020-11-30 04594345 c:FRS102 2020-12-01 2021-11-30 04594345 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 04594345 c:FullAccounts 2020-12-01 2021-11-30 04594345 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 04594345 d:AcceleratedTaxDepreciationDeferredTax 2021-11-30 04594345 d:AcceleratedTaxDepreciationDeferredTax 2020-11-30 iso4217:GBP xbrli:pure

Registered number: 04594345










P R DAVEY ENGINEERING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

 
P R DAVEY ENGINEERING LIMITED
REGISTERED NUMBER: 04594345

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
61,107
59,047

  
61,107
59,047

Current assets
  

Stocks
  
1,000
1,000

Debtors: amounts falling due within one year
 5 
51,315
35,539

Cash at bank and in hand
  
19,916
64,709

  
72,231
101,248

Creditors: amounts falling due within one year
 6 
(68,928)
(77,773)

Net current assets
  
 
 
3,303
 
 
23,475

Total assets less current liabilities
  
64,410
82,522

Creditors: amounts falling due after more than one year
 7 
(49,046)
(71,192)

Provisions for liabilities
  

Deferred tax
 9 
(15,200)
(11,200)

  
 
 
(15,200)
 
 
(11,200)

Net assets
  
164
130


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
64
30

  
164
130


Page 1

 
P R DAVEY ENGINEERING LIMITED
REGISTERED NUMBER: 04594345
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P Davey
Director

Date: 31 August 2022

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.


General information

P R Davey Engineering Limited is a private company limited by shares and incorporated in England and Wales, registration number 04594345. The registered office is Unit 3 Sterling Complex, Farthing Road Industrial Estate, Ipswich IP6 0NL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have considered the Company's position at the time of signing the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existance for the forseeable future and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements. 

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15% reducing balance
Motor vehicles
-
15% reducing balance
Office equipment
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 5

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 4).


4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2020
165,576
-
2,312
167,888


Additions
-
11,750
285
12,035


Disposals
-
-
(498)
(498)



At 30 November 2021

165,576
11,750
2,099
179,425



Depreciation


At 1 December 2020
107,246
-
1,595
108,841


Charge for the year on owned assets
8,749
898
131
9,778


Disposals
-
-
(301)
(301)



At 30 November 2021

115,995
898
1,425
118,318



Net book value



At 30 November 2021
49,581
10,852
674
61,107



At 30 November 2020
58,330
-
717
59,047

Page 6

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

5.


Debtors

2021
2020
£
£


Trade debtors
32,364
29,489

Other debtors
14,303
6,050

Tax recoverable
4,648
-

51,315
35,539



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other loans
10,000
5,000

Trade creditors
12,809
12,230

Corporation tax
16,029
18,574

Other taxation and social security
11,078
23,646

Obligations under finance lease and hire purchase contracts
15,502
14,715

Other creditors
1,735
1,913

Accruals and deferred income
1,775
1,695

68,928
77,773



7.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Other loans
35,000
45,000

Net obligations under finance leases and hire purchase contracts
14,046
26,192

49,046
71,192


The security given on the hire purchase was that of a personal guarantee by a director.

Page 7

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

8.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Other loans
10,000
5,000


10,000
5,000

Amounts falling due 1-2 years

Other loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Other loans
25,000
30,000


25,000
30,000

Amounts falling due after more than 5 years

Other loans
-
5,000

-
5,000

45,000
50,000


This loan is guaranteed by the government under the Bounce Back Loan Scheme.

Page 8

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

9.


Deferred taxation




2021


£






At beginning of year
(11,200)


Charged to profit or loss
(4,000)



At end of year
(15,200)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(15,200)
(11,200)

(15,200)
(11,200)

 
Page 9