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Company Registration No. 02780841 (England and Wales)
Davis & Hadwin Limited Unaudited accounts for the year ended 31 March 2023
Davis & Hadwin Limited Unaudited accounts Contents
Page
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Davis & Hadwin Limited Company Information for the year ended 31 March 2023
Director
Philip Hadwin
Company Number
02780841 (England and Wales)
Registered Office
Stewner Park Farm Marton Ulverston Cumbria LA12 0NR England
Accountants
EHA Accountancy Ltd 2 Lower Brook Street Ulverston Cumbria LA12 7EE
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Davis & Hadwin Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,137 
26,331 
Investment property
- 
62,361 
21,137 
88,692 
Current assets
Debtors
1,311 
11,085 
Cash at bank and in hand
131,577 
65,468 
132,888 
76,553 
Creditors: amounts falling due within one year
(34,543)
(17,513)
Net current assets
98,345 
59,040 
Total assets less current liabilities
119,482 
147,732 
Provisions for liabilities
Deferred tax
(3,792)
(4,779)
Net assets
115,690 
142,953 
Capital and reserves
Called up share capital
2,000 
2,000 
Profit and loss account
113,690 
140,953 
Shareholders' funds
115,690 
142,953 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 July 2023 and were signed on its behalf by
Philip Hadwin Director Company Registration No. 02780841
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Davis & Hadwin Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Davis & Hadwin Limited is a private company, limited by shares, registered in England and Wales, registration number 02780841. The registered office is Stewner Park Farm, Marton , Ulverston, Cumbria, LA12 0NR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Davis & Hadwin Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
26,767 
26,370 
53,137 
Additions
1,419 
- 
1,419 
At 31 March 2023
28,186 
26,370 
54,556 
Depreciation
At 1 April 2022
6,692 
20,114 
26,806 
Charge for the year
5,049 
1,564 
6,613 
At 31 March 2023
11,741 
21,678 
33,419 
Net book value
At 31 March 2023
16,445 
4,692 
21,137 
At 31 March 2022
20,075 
6,256 
26,331 
5
Investment property
2023 
£ 
Fair value at 1 April 2022
62,361 
Disposals
(62,361)
At 31 March 2023
- 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
793 
- 
Trade debtors
- 
6,579 
Accrued income and prepayments
518 
983 
Other debtors
- 
3,523 
1,311 
11,085 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
3,415 
Trade creditors
7,542 
1,306 
Taxes and social security
2,574 
- 
Loans from directors
22,941 
11,842 
Accruals
1,486 
950 
34,543 
17,513 
8
Transactions with related parties
Included within creditors is an amount due to the director of £22,941 (2022: £11,842). No interest has been charged on this balance.
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Davis & Hadwin Limited Notes to the Accounts for the year ended 31 March 2023
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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