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REGISTERED NUMBER: 10837676 (England and Wales)





















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Peter Davies Mortgage Advisers (SW) Ltd

Peter Davies Mortgage Advisers (SW) Ltd (Registered number: 10837676)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Peter Davies Mortgage Advisers (SW) Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: P Davies





SECRETARY: Mrs L M Davies





REGISTERED OFFICE: First Floor Cef Building
Broomhill Way
Torquay
Devon
TQ2 7QN





REGISTERED NUMBER: 10837676 (England and Wales)





ACCOUNTANTS: Mark Ward Chartered Certified Accountants
First Floor Cef Building
Broomhill Way
Torquay
Devon
TQ2 7QN

Peter Davies Mortgage Advisers (SW) Ltd (Registered number: 10837676)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,179 1,569

CURRENT ASSETS
Stocks 26,896 19,771
Debtors 5 248 234
Cash at bank 41,772 71,505
68,916 91,510
CREDITORS
Amounts falling due within one year 6 49,015 69,850
NET CURRENT ASSETS 19,901 21,660
TOTAL ASSETS LESS CURRENT LIABILITIES 21,080 23,229

CREDITORS
Amounts falling due after more than one
year

7

(10,657

)

(15,384

)

PROVISIONS FOR LIABILITIES (224 ) (298 )
NET ASSETS 10,199 7,547

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 9,999 7,347
10,199 7,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Peter Davies Mortgage Advisers (SW) Ltd (Registered number: 10837676)

Balance Sheet - continued
30 June 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 7 February 2024 and were signed by:





P Davies - Director


Peter Davies Mortgage Advisers (SW) Ltd (Registered number: 10837676)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Peter Davies Mortgage Advisers (SW) 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.

Critical accounting judgements and key sources of estimation uncertainty
In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Peter Davies Mortgage Advisers (SW) Ltd (Registered number: 10837676)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds the following financial instruments:

- Short term trade and other debtors and creditors;
- Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Basic financial assets comprise short term trade and other debtors and cash and bank balances. Basic financial liabilities comprise short term trade and other creditors.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Peter Davies Mortgage Advisers (SW) Ltd (Registered number: 10837676)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 3,637
DEPRECIATION
At 1 July 2022 2,068
Charge for year 390
At 30 June 2023 2,458
NET BOOK VALUE
At 30 June 2023 1,179
At 30 June 2022 1,569

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 248 234

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 4,727 4,611
Taxation and social security 12,983 9,132
Other creditors 31,305 56,107
49,015 69,850

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 10,657 15,384