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COMPANY REGISTRATION NUMBER: 06736696
Davrom Holdings Limited
Filleted Unaudited Financial Statements
30 April 2023
Davrom Holdings Limited
Financial Statements
Period from 29 May 2022 to 30 April 2023
Contents
Page
Statement of Financial Position
1
Notes to the Financial Statements
3
Davrom Holdings Limited
Statement of Financial Position
30 April 2023
30 Apr 23
28 May 22
Note
£
£
£
Fixed Assets
Investments
6
1
1
Current Assets
Stocks
132,596
Debtors
7
300,154
Cash at bank and in hand
7,822
1
---------
----
440,572
1
Creditors: amounts falling due within one year
8
789,679
168,181
---------
---------
Net Current Liabilities
349,107
168,180
---------
---------
Total Assets Less Current Liabilities
( 349,106)
( 168,179)
---------
---------
Net Liabilities
( 349,106)
( 168,179)
---------
---------
Capital and Reserves
Called up share capital
10
10
Profit and loss account
( 349,116)
( 168,189)
---------
---------
Shareholders Deficit
( 349,106)
( 168,179)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 April 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Davrom Holdings Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 21 March 2024 , and are signed on behalf of the board by:
R A Gabbie
Director
Company registration number: 06736696
Davrom Holdings Limited
Notes to the Financial Statements
Period from 29 May 2022 to 30 April 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Davrom House, 21 Lyons Road, Trafford Park, Manchester, M17 1RN.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
10% straight line
Office Equipment
-
10% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee Numbers
The average number of persons employed by the company during the period amounted to 5 (2022: 1 ).
5. Tangible Assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 29 May 2022 and 30 April 2023
1,514
9,535
11,049
-------
-------
--------
Depreciation
At 29 May 2022 and 30 April 2023
1,514
9,535
11,049
-------
-------
--------
Carrying amount
At 30 April 2023
-------
-------
--------
At 28 May 2022
-------
-------
--------
6. Investments
Shares in group undertakings
£
Cost
At 29 May 2022 and 30 April 2023
1
----
Impairment
At 29 May 2022 and 30 April 2023
----
Carrying amount
At 30 April 2023
1
----
At 28 May 2022
1
----
7. Debtors
30 Apr 23
28 May 22
£
£
Trade debtors
46,979
Amounts owed by group undertakings and undertakings in which the company has a participating interest
218,034
Other debtors
35,141
---------
----
300,154
---------
----
8. Creditors: amounts falling due within one year
30 Apr 23
28 May 22
£
£
Trade creditors
69,977
Amounts owed to group undertakings and undertakings in which the company has a participating interest
94,099
58,263
Social security and other taxes
36,092
Other creditors
589,511
109,918
---------
---------
789,679
168,181
---------
---------
9. Directors' Advances, Credits and Guarantees
During the period the directors entered into the following advances and credits with the company:
30 Apr 23
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
R A Gabbie
( 107,961)
( 271,190)
( 379,151)
M Gabbie
( 25,193)
( 25,193)
---------
---------
---------
( 107,961)
( 296,383)
( 404,344)
---------
---------
---------
28 May 22
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
R A Gabbie
( 107,933)
( 28)
( 107,961)
M Gabbie
---------
----
---------
( 107,933)
( 28)
( 107,961)
---------
----
---------
10. Related Party Transactions
Group Undertakings relates to the below transactions. These amounts are non-interest bearing and repayable on demand. The company is owed from Davrom Trading Ltd (Company number 07469475) £ 8,909.13 (2022: Creditor of £ 1,974.05 ), a Director owns 100% of the shares of Davrom Trading Ltd. The company owed Nack Ltd (Company number 10884592) £ 3,050 (2022: £ 3,050 ), a Director owns 100% of the shares of Nack Limited. The company owed RAG Investments Ltd (Company number 08157174) £ 27,684.93 (2022: £ 28,044.93 ), a Director owns 100% of the shares of RAG Investments Limited The company owed Gabbie Pension scheme £ 63,364 (2022: £Nil), a Director is a beneficiary. The company is owed from All Retail Limited (Company Number 06534618) £ 209,125.23 (2022: £Nil), a Director owns 100% of the shares of All Retail Limited.