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REGISTERED NUMBER: 03947142 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

E.A. DOWNES & SONS LIMITED

E.A. DOWNES & SONS LIMITED (REGISTERED NUMBER: 03947142)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

E.A. DOWNES & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: S D Pratt
Miss M E Pratt
Mrs K A Pratt
J S Pratt
B C Pratt





REGISTERED OFFICE: Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL





REGISTERED NUMBER: 03947142 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL

E.A. DOWNES & SONS LIMITED (REGISTERED NUMBER: 03947142)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 17,600 25,400
Tangible assets 6 1,141,969 760,019
1,159,569 785,419

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 7 58,990 44,106
Cash at bank 1,531 62,161
62,521 108,267
CREDITORS
Amounts falling due within one year 8 341,220 240,315
NET CURRENT LIABILITIES (278,699 ) (132,048 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

880,870

653,371

CREDITORS
Amounts falling due after more than one year 9 (572,608 ) (427,815 )

PROVISIONS FOR LIABILITIES (64,861 ) (32,208 )
NET ASSETS 243,401 193,348

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 243,301 193,248
243,401 193,348

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

E.A. DOWNES & SONS LIMITED (REGISTERED NUMBER: 03947142)

BALANCE SHEET - continued
30 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





Mrs K A Pratt - Director


E.A. DOWNES & SONS LIMITED (REGISTERED NUMBER: 03947142)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

E.a. Downes & Sons 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention. The accounts have been prepared on a going concern basis.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

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

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised one systematic basis over its expected life, which is over 25 years.

The Directors have considered the requirements of FRS102 and are of the opinion that continuing to amortise the existing goodwill over 25 years is appropriate. Based on the approach, existing goodwill will be written down to £NIL by 31st July 2025.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Freehold property - not provided
Plant and machinery - 12.5% on reducing balance
Fixtures and fittings - 12.5% on reducing balance
Motor vehicles - 25% on reducing balance

Depreciation has not been provided in respect of Buildings. The director considers that this accounting policy which represents a departure from the Companies Act 2006 is necessary for the financial statements to show a true and fair view.

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


E.A. DOWNES & SONS LIMITED (REGISTERED NUMBER: 03947142)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

3. ACCOUNTING POLICIES - continued
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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 20 ) .

E.A. DOWNES & SONS LIMITED (REGISTERED NUMBER: 03947142)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 195,000
AMORTISATION
At 1 May 2022 169,600
Amortisation for year 7,800
At 30 April 2023 177,400
NET BOOK VALUE
At 30 April 2023 17,600
At 30 April 2022 25,400

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2022 594,375 83,102 5,256 474,557 1,157,290
Additions 270,936 165,423 1,003 2,501 439,863
At 30 April 2023 865,311 248,525 6,259 477,058 1,597,153
DEPRECIATION
At 1 May 2022 - 47,626 1,343 348,302 397,271
Charge for year - 25,111 614 32,188 57,913
At 30 April 2023 - 72,737 1,957 380,490 455,184
NET BOOK VALUE
At 30 April 2023 865,311 175,788 4,302 96,568 1,141,969
At 30 April 2022 594,375 35,476 3,913 126,255 760,019

E.A. DOWNES & SONS LIMITED (REGISTERED NUMBER: 03947142)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2022
and 30 April 2023 277,848
DEPRECIATION
At 1 May 2022 168,481
Charge for year 27,456
At 30 April 2023 195,937
NET BOOK VALUE
At 30 April 2023 81,911
At 30 April 2022 109,367

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 41,368 39,746
Prepayments 17,622 4,360
58,990 44,106

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 54,917 9,204
Hire purchase contracts 27,574 64,968
Trade creditors 223,942 55,780
Tax 3,458 40,250
Social security and other taxes 5,085 3,088
Pension - 292
VAT 2,661 31,282
Directors' current accounts 16,729 31,701
Accrued expenses 6,854 3,750
341,220 240,315

E.A. DOWNES & SONS LIMITED (REGISTERED NUMBER: 03947142)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans - 1-2 years 10,540 9,493
Bank loans - 2-5 years 31,620 30,310
Bank loans more 5 yr by instal 64,997 84,757
Hire purchase contracts 39,051 53,255
Directors' current account 426,400 250,000
572,608 427,815

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 64,997 84,757

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 117,697 133,764
Hire purchase contracts 66,625 118,223
184,322 251,987

The hire purchases and bank loan are secured on the assets to which they relate.

There are fixed and floating charges over the assets of the company in respect of the bank loan.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
E.A. DOWNES & SONS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E.a. Downes & Sons Limited for the year ended 30 April 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of E.a. Downes & Sons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of E.a. Downes & Sons Limited and state those matters that we have agreed to state to the Board of Directors of E.a. Downes & Sons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E.a. Downes & Sons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that E.a. Downes & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of E.a. Downes & Sons Limited. You consider that E.a. Downes & Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of E.a. Downes & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL


13 November 2023