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REGISTERED NUMBER: 02167809 (England and Wales)















D R DAVIES & SONS (COURT FARM) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023






D R DAVIES & SONS (COURT FARM) LIMITED (REGISTERED NUMBER: 02167809)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D R DAVIES & SONS (COURT FARM) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2023







DIRECTORS: M R Davies
T M T Davies
J R Davies
Mrs L M Davies





REGISTERED OFFICE: West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ





REGISTERED NUMBER: 02167809 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

D R DAVIES & SONS (COURT FARM) LIMITED (REGISTERED NUMBER: 02167809)

BALANCE SHEET
5 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 283,359 224,823

CURRENT ASSETS
Stocks 229,734 203,578
Debtors 5 88,845 58,342
Investments 6 1,801 1,801
320,380 263,721
CREDITORS
Amounts falling due within one year 7 205,830 208,012
NET CURRENT ASSETS 114,550 55,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

397,909

280,532

CREDITORS
Amounts falling due after more than one
year

8

(320,242

)

(329,188

)

PROVISIONS FOR LIABILITIES (34,240 ) (22,207 )
NET ASSETS/(LIABILITIES) 43,427 (70,863 )

CAPITAL AND RESERVES
Called up share capital 9 200,100 200,100
Retained earnings 10 (156,673 ) (270,963 )
SHAREHOLDERS' FUNDS 43,427 (70,863 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 in accordance with Section 476 of the Companies Act 2006.

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.

D R DAVIES & SONS (COURT FARM) LIMITED (REGISTERED NUMBER: 02167809)

BALANCE SHEET - continued
5 APRIL 2023


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





M R Davies - Director


D R DAVIES & SONS (COURT FARM) LIMITED (REGISTERED NUMBER: 02167809)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

1. STATUTORY INFORMATION

D R Davies & Sons (Court Farm) Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Buildings and improvements - in accordance with the property
Implements and machinery - 10% on reducing balance
Tractors and motor vehicles - 25% on reducing balance
Leased assets - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

D R DAVIES & SONS (COURT FARM) LIMITED (REGISTERED NUMBER: 02167809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Buildings Implements Tractors
and and and motor
improvements machinery vehicles
£    £    £   
COST
At 6 April 2022 217,281 158,997 94,255
Additions - 29,210 56,850
At 5 April 2023 217,281 188,207 151,105
DEPRECIATION
At 6 April 2022 84,003 94,414 67,750
Charge for year 5,332 9,383 12,505
At 5 April 2023 89,335 103,797 80,255
NET BOOK VALUE
At 5 April 2023 127,946 84,410 70,850
At 5 April 2022 133,278 64,583 26,505

D R DAVIES & SONS (COURT FARM) LIMITED (REGISTERED NUMBER: 02167809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

4. TANGIBLE FIXED ASSETS - continued

Leased Office
assets equipment Totals
£    £    £   
COST
At 6 April 2022 12,500 901 483,934
Additions - - 86,060
At 5 April 2023 12,500 901 569,994
DEPRECIATION
At 6 April 2022 12,481 463 259,111
Charge for year 4 300 27,524
At 5 April 2023 12,485 763 286,635
NET BOOK VALUE
At 5 April 2023 15 138 283,359
At 5 April 2022 19 438 224,823

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
and motor
vehicles
£   
COST
Additions 56,850
At 5 April 2023 56,850
DEPRECIATION
Charge for year 8,528
At 5 April 2023 8,528
NET BOOK VALUE
At 5 April 2023 48,322

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 59,662 37,311
PAYE and NIC debtor 2,743 865
Directors' current accounts 8,990 9,205
VAT 17,044 10,835
Prepayments 406 126
88,845 58,342

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 1,801 1,801

D R DAVIES & SONS (COURT FARM) LIMITED (REGISTERED NUMBER: 02167809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 108,342 145,330
Hire purchase contracts 13,333 -
Trade creditors 56,055 50,312
Tax 19,615 6,477
Directors' current accounts 3,409 1,805
Accruals and deferred income 5,076 4,088
205,830 208,012

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 31,866 31,193
Bank loans - 2-5 years 39,111 66,153
Bank loans more 5 yr by instal 227,043 231,842
Hire purchase contracts 22,222 -
320,242 329,188

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 227,043 231,842

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
200,000 Redeemable £1 200,000 200,000
200,100 200,100

10. RESERVES
Retained
earnings
£   

At 6 April 2022 (270,963 )
Profit for the year 131,290
Dividends (17,000 )
At 5 April 2023 (156,673 )

D R DAVIES & SONS (COURT FARM) LIMITED (REGISTERED NUMBER: 02167809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 5 April 2023 and 5 April 2022:

2023 2022
£    £   
M R Davies
Balance outstanding at start of year (8,629 ) (16,694 )
Amounts advanced (17,777 ) (22,560 )
Amounts repaid 17,688 30,625
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,718 ) (8,629 )

J R Davies
Balance outstanding at start of year (576 ) 207
Amounts advanced (2,925 ) (2,783 )
Amounts repaid 3,230 2,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (271 ) (576 )

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £17,000 were paid to the directors .

M R Davies who is a director received £8,333 for rent of land and employee related accommodation (2022- £8,151).