Company registration number 5483775 (England and Wales)
DAVID HUMPHREYS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
DAVID HUMPHREYS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
Notes to the financial statements
3 - 6
DAVID HUMPHREYS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Goodwill
4
-
0
1
Tangible assets
5
39,948
15,473
39,948
15,474
Current assets
Debtors
6
12,407
8,206
Cash at bank and in hand
23,572
33,934
35,979
42,140
Creditors: amounts falling due within one year
7
(8,014)
(11,006)
Net current assets
27,965
31,134
Total assets less current liabilities
67,913
46,608
Creditors: amounts falling due after more than one year
8
(2,403)
-
0
Provisions for liabilities
(9,987)
(3,189)
Net assets
55,523
43,419
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
55,423
43,319
Total equity
55,523
43,419

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 13 March 2024
Mr D Humphreys
Director
DAVID HUMPHREYS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 2 -
Company Registration No. 5483775
DAVID HUMPHREYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

David Humphreys Limited is a private company limited by shares incorporated in England and Wales. The registered office is Holmleigh, 71 The Mount, Shrewsbury, Shropshire, United Kingdom, SY3 8PL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
25% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

DAVID HUMPHREYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2022 - 3).

2023
2022
Number
Number
Total
3
3
DAVID HUMPHREYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2022 and 30 June 2023
100,000
Amortisation and impairment
At 1 July 2022
99,999
Amortisation charged for the year
1
At 30 June 2023
100,000
Carrying amount
At 30 June 2023
-
0
At 30 June 2022
1
5
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2022
40,233
20,547
4,116
-
0
64,896
Additions
-
0
-
0
-
0
37,791
37,791
At 30 June 2023
40,233
20,547
4,116
37,791
102,687
Depreciation and impairment
At 1 July 2022
28,280
19,364
1,779
-
0
49,423
Depreciation charged in the year
2,988
296
584
9,448
13,316
At 30 June 2023
31,268
19,660
2,363
9,448
62,739
Carrying amount
At 30 June 2023
8,965
887
1,753
28,343
39,948
At 30 June 2022
11,953
1,183
2,337
-
0
15,473
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
10,080
8,206
Other debtors
2,327
-
0
12,407
8,206
DAVID HUMPHREYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
4,582
3,845
Other taxation and social security
1,095
5,414
Other creditors
639
437
Accruals and deferred income
1,698
1,310
8,014
11,006
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
2,403
-
0
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