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REGISTERED NUMBER: 03713056 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 July 2023

for

Davard Care Homes Limited

Davard Care Homes Limited (Registered number: 03713056)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Davard Care Homes Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: D Farndon





SECRETARY: D Farndon





REGISTERED OFFICE: 75 Springfield Road
Chelmsford
Essex
CM2 6JB





REGISTERED NUMBER: 03713056 (England and Wales)





ACCOUNTANTS: NSO Associates LLP
75 Springfield Road
Chelmsford
Essex
CM2 6JB

Davard Care Homes Limited (Registered number: 03713056)

Balance Sheet
31 July 2023

31.7.22 31.7.23
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 4 -
2,228,788 Tangible assets 5 2,183,083
136,299 Investments 6 281,913
2,365,087 2,464,996

CURRENT ASSETS
34,952 Debtors 7 147,131
1,081,547 Cash at bank and in hand 1,122,911
1,116,499 1,270,042
CREDITORS
172,346 Amounts falling due within one year 8 190,648
944,153 NET CURRENT ASSETS 1,079,394
3,309,240 TOTAL ASSETS LESS CURRENT
LIABILITIES

3,544,390

49,868 PROVISIONS FOR LIABILITIES 93,290
3,259,372 NET ASSETS 3,451,100

CAPITAL AND RESERVES
100 Called up share capital 9 100
- Fair value reserve 10 176,892
3,259,272 Retained earnings 3,274,108
3,259,372 SHAREHOLDERS' FUNDS 3,451,100

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Davard Care Homes Limited (Registered number: 03713056)

Balance Sheet - continued
31 July 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 director and authorised for issue on 25 March 2024 and were signed by:





D Farndon - Director


Davard Care Homes Limited (Registered number: 03713056)

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

1. STATUTORY INFORMATION

Davard Care Homes 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. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of ten years.

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.
Land and buildings - 1% on cost
Plant and machinery etc - 33% on cost and 15% on reducing balance

Listed investments are shown at fair value at the balance sheet date.

Government grants
Government grants are accounted for on an accruals basis.

Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

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, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Davard Care Homes Limited (Registered number: 03713056)

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

2. ACCOUNTING POLICIES - continued

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 100,000
AMORTISATION
At 1 August 2022
and 31 July 2023 100,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

Davard Care Homes Limited (Registered number: 03713056)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
Totals buildings etc
£    £    £   
COST
At 1 August 2022 2,892,198 2,519,215 372,983
Additions 16,803 4,432 12,371
Disposals (26,614 ) - (26,614 )
At 31 July 2023 2,882,387 2,523,647 358,740
DEPRECIATION
At 1 August 2022 663,410 384,389 279,021
Charge for year 60,115 44,473 15,642
Eliminated on disposal (24,221 ) - (24,221 )
At 31 July 2023 699,304 428,862 270,442
NET BOOK VALUE
At 31 July 2023 2,183,083 2,094,785 88,298
At 31 July 2022 2,228,788 2,134,826 93,962

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 August 2022 136,299
Additions 4,101
Revaluations 141,513
At 31 July 2023 281,913
NET BOOK VALUE
At 31 July 2023 281,913
At 31 July 2022 136,299

Cost or valuation at 31 July 2023 is represented by:

Listed
investments
£   
Valuation in 2023 141,513
Cost 140,400
281,913

Davard Care Homes Limited (Registered number: 03713056)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 1,760 24,563
Other debtors 145,371 10,389
147,131 34,952

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 7 -
Payments on account 55,339 43,138
Trade creditors 16,274 15,773
Taxation and social security 71,690 70,981
Other creditors 47,338 42,454
190,648 172,346

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
value
reserve
£   
Transfer of fair value, net
of deferred tax 176,892

At 31 July 2023 176,892

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
D Farndon
Balance outstanding at start of year - -
Amounts advanced 140,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 140,000 -

Davard Care Homes Limited (Registered number: 03713056)

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

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

The loan was repaid on 25.3.24.

An interest rate of 2.25% is applied.