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COMPANY REGISTRATION NUMBER: 08501555
DAVALL DESIGN LIMITED
UNAUDITED FINANCIAL STATEMENTS
31 May 2023
DAVALL DESIGN LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
CONTENTS
PAGE
Directors' Report
1
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements
2
Statement of Income and Retained Earnings
3
Statement of Financial Position
4
Notes to the Financial Statements
6
DAVALL DESIGN LIMITED
DIRECTORS' REPORT
YEAR ENDED 31 MAY 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2023 .
Directors
The directors who served the company during the year were as follows:
Mrs A Archer
Mr D J Baxter
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 October 2023 and signed on behalf of the board by:
Mrs A Archer
Director
Registered office:
3 High Street
St. Lawrence
Ramsgate
United Kingdom
CT11 0QL
DAVALL DESIGN LIMITED
CHARTERED CERTIFIED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DAVALL DESIGN LIMITED
YEAR ENDED 31 MAY 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 May 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
NEVILLE WESTON Chartered Certified Accountants
3 High Street St Lawrence Ramsgate Kent CT11 0QL
30 October 2023
DAVALL DESIGN LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED 31 MAY 2023
2023
2022
Note
£
£
TURNOVER
591,961
535,800
Cost of sales
278,795
248,015
----------
----------
GROSS PROFIT
313,166
287,785
Administrative expenses
180,750
165,454
----------
----------
OPERATING PROFIT
132,416
122,331
Other interest receivable and similar income
589
2
----------
----------
PROFIT BEFORE TAXATION
5
133,005
122,333
Tax on profit
26,207
23,143
----------
----------
PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME
106,798
99,190
----------
----------
Dividends paid and payable
( 60,940)
( 57,802)
RETAINED EARNINGS AT THE START OF THE YEAR
400,616
359,228
----------
----------
RETAINED EARNINGS AT THE END OF THE YEAR
446,474
400,616
----------
----------
All the activities of the company are from continuing operations.
DAVALL DESIGN LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
7
889
1,185
CURRENT ASSETS
Stocks
222,736
216,896
Debtors
8
161,411
68,881
Cash at bank and in hand
164,007
200,629
----------
----------
548,154
486,406
CREDITORS: amounts falling due within one year
9
102,469
86,875
----------
----------
NET CURRENT ASSETS
445,685
399,531
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
446,574
400,716
----------
----------
NET ASSETS
446,574
400,716
----------
----------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
446,474
400,616
----------
----------
SHAREHOLDERS FUNDS
446,574
400,716
----------
----------
These financial statements have been prepared 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'.
For the year ending 31 May 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 year 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 .
DAVALL DESIGN LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 30 October 2023 , and are signed on behalf of the board by:
Mrs A Archer
Director
Company registration number: 08501555
DAVALL DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 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 3 High Street, St. Lawrence, Ramsgate, CT11 0QL, United Kingdom.
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.
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 year amounted to 4 (2022: 4 ).
5. PROFIT BEFORE TAXATION
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
296
395
----
----
6. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 June 2022 and 31 May 2023
65,000
---------
Amortisation
At 1 June 2022 and 31 May 2023
65,000
---------
Carrying amount
At 31 May 2023
---------
At 31 May 2022
---------
7. TANGIBLE ASSETS
Equipment
Total
£
£
Cost
At 1 June 2022 and 31 May 2023
7,533
7,533
-------
-------
Depreciation
At 1 June 2022
6,348
6,348
Charge for the year
296
296
-------
-------
At 31 May 2023
6,644
6,644
-------
-------
Carrying amount
At 31 May 2023
889
889
-------
-------
At 31 May 2022
1,185
1,185
-------
-------
8. DEBTORS
2023
2022
£
£
Trade debtors
159,359
66,815
Other debtors
2,052
2,066
----------
---------
161,411
68,881
----------
---------
9. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
29,637
23,422
Corporation tax
26,207
23,143
Social security and other taxes
33,733
25,211
Other creditors
12,892
15,099
----------
---------
102,469
86,875
----------
---------
10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mrs A Archer
( 6,578)
1,521
( 5,057)
Mr D J Baxter
( 1,730)
1,521
( 209)
-------
-------
-------
( 8,308)
3,042
( 5,266)
-------
-------
-------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mrs A Archer
( 7,534)
956
( 6,578)
Mr D J Baxter
( 2,685)
955
( 1,730)
---------
-------
-------
( 10,219)
1,911
( 8,308)
---------
-------
-------