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REGISTERED NUMBER: 02698329 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Downer & Co Ltd

Downer & Co Ltd (Registered number: 02698329)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Downer & Co Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: S D Downer
R Bailey
L D Downer





SECRETARY: The Old Butchery Ltd





REGISTERED OFFICE: The Old Butchery
High Street
Twyford
Hampshire
SO21 1NH





REGISTERED NUMBER: 02698329 (England and Wales)





ACCOUNTANTS: Rothman Accountancy Services Limited
The Old Butchery
High Street
Twyford, nr Winchester
Hampshire
SO21 INH

Downer & Co Ltd (Registered number: 02698329)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,985 17,780

CURRENT ASSETS
Stocks 18,275 20,288
Debtors 5 60,244 64,263
Cash at bank 232,894 232,050
311,413 316,601
CREDITORS
Amounts falling due within one year 6 130,068 117,453
NET CURRENT ASSETS 181,345 199,148
TOTAL ASSETS LESS CURRENT
LIABILITIES

195,330

216,928

CREDITORS
Amounts falling due after more than one
year

7

(30,303

)

(48,485

)

PROVISIONS FOR LIABILITIES (3,351 ) (3,243 )
NET ASSETS 161,676 165,200

CAPITAL AND RESERVES
Called up share capital 500 500
Share premium 22,540 22,540
Retained earnings 138,636 142,160
SHAREHOLDERS' FUNDS 161,676 165,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Downer & Co Ltd (Registered number: 02698329)

Balance Sheet - continued
31 August 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:





S D Downer - Director


Downer & Co Ltd (Registered number: 02698329)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Downer & Co Ltd 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 the amount derived from ordinary activities, and is stated after trade discounts, other sales taxes and net of VAT.

The policies adopted for the recognition of turnover are as follows:

Sales commissions - commissions are recognised in the financial statements when the negotiation work to the exchange of property is completed and the contracts have been exchanged.

Mortgage commission and property valuation income are recognised when they are received.

Interest receivable - interest is recognised when it is received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on cost

Stocks
The work in progress shown in the financial statements comprises the commission due on properties that exchange in the week following the year end. This is on the basis that all work to negotiate the exchange has been completed by the year end date.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the financial instrument.

Trade debtors and trade creditors have no stated interest rate and are receivable or payable within one year. They are recorded at transaction price with any losses from impairment being recognised in profit or loss.

The coronavirus business interruption loan scheme (CBILS) loan was initially measured at the present value of future payments discounted at a market rate of interest. Subsequent measurement is in accordance with the loan, the capital being repaid on a straight line basis over the remaining term and the interest paid separately each month and recognised in the profit or loss.


Downer & Co Ltd (Registered number: 02698329)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 ruling at 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 ruling at 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.

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

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. Where the company has paid in excess of the amounts due during the reporting period, that excess is recognised in current assets. Where amounts are owed to the pension scheme those amounts are recognised in current liabilities at the reporting date.

Cash and cash equivalents
Cash and cash equivalents comprise current balances with banks and similar institutions, which are readily convertible to known amounts of cash and which are subject to insignificant risk of changes in value.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reasonably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 18 ) .

Downer & Co Ltd (Registered number: 02698329)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022 30,574 196,910 227,484
Additions - 2,580 2,580
At 31 August 2023 30,574 199,490 230,064
DEPRECIATION
At 1 September 2022 28,504 181,200 209,704
Charge for year 516 5,859 6,375
At 31 August 2023 29,020 187,059 216,079
NET BOOK VALUE
At 31 August 2023 1,554 12,431 13,985
At 31 August 2022 2,070 15,710 17,780

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 49,038 48,979
Prepayments 11,206 15,284
60,244 64,263

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 18,182 18,182
Trade creditors 11,919 17,258
Taxation and social security 83,958 73,772
Other creditors 16,009 8,241
130,068 117,453

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 30,303 48,485

Downer & Co Ltd (Registered number: 02698329)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 48,485 66,667

The bank holds fixed and floating charges over the company's assets and property present and future.

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £123,622 (2022 £148,893).