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Registration number: 00782416

A.W. Davis Properties Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 September 2023

 

A.W. Davis Properties Limited

(Registration number: 00782416)
Statement of Financial Position as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

462

578

Investment property

5

5,720,600

5,615,600

 

5,721,062

5,616,178

Current assets

 

Debtors

6

284,464

41,255

Cash at bank and in hand

 

827,951

960,070

 

1,112,415

1,001,325

Creditors: Amounts falling due within one year

7

(145,129)

(207,438)

Net current assets

 

967,286

793,887

Net assets

 

6,688,348

6,410,065

Capital and reserves

 

Called up share capital

25,000

25,000

Fair value reserve

1,496,119

1,391,119

Profit and loss account

5,167,229

4,993,946

Shareholders' funds

 

6,688,348

6,410,065

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 29 February 2024 and signed on its behalf by:
 

.........................................

Mrs L E Davis-Wall
Director

 

A.W. Davis Properties Limited

Statement of Changes in Equity for the Year Ended 30 September 2023

Share capital
£

Fair value reserve
£

Profit and loss account
£

Total
£

At 1 October 2022

25,000

1,391,119

4,993,946

6,410,065

Profit for the year

-

-

291,883

291,883

Dividends

-

-

(13,600)

(13,600)

Transfers

-

105,000

(105,000)

-

At 30 September 2023

25,000

1,496,119

5,167,229

6,688,348

Share capital
£

Fair value reserve
£

Profit and loss account
£

Total
£

At 1 October 2021

25,000

1,378,619

4,755,000

6,158,619

Profit for the year

-

-

277,946

277,946

Dividends

-

-

(26,500)

(26,500)

Transfers

-

12,500

(12,500)

-

At 30 September 2022

25,000

1,391,119

4,993,946

6,410,065

 

A.W. Davis Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

A.W. Davis Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Fair value reserve

The fair value reserve is used to record increases in the fair value of investments and decreases to the extent that such relates to an increase on the same asset.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

A.W. Davis Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2022

1,553

1,553

At 30 September 2023

1,553

1,553

Depreciation

At 1 October 2022

975

975

Charge for the year

116

116

At 30 September 2023

1,091

1,091

Carrying amount

At 30 September 2023

462

462

At 30 September 2022

578

578

5

Investment properties

2023
£

At 1 October 2022

5,615,600

Fair value adjustments

105,000

At 30 September 2023

5,720,600

There has been no valuation of investment property by an independent valuer.

 

A.W. Davis Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Debtors

2023
£

2022
£

Trade debtors

4,885

9,360

Other debtors

279,579

31,895

284,464

41,255

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Taxation and social security

64,280

84,428

Accruals and deferred income

52,204

63,727

Other creditors

28,645

59,283

145,129

207,438