2022-06-012023-05-312023-05-31false11978871DAVIS WOOLFE 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DAVIS WOOLFE LIMITED

Registered Number
11978871
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

DAVIS WOOLFE LIMITED
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

G M Davis
T H Woolfe

Registered Address

1 King William Street
London
EC4N 7AF

Registered Number

11978871 (England and Wales)
DAVIS WOOLFE LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets59,33011,254
9,33011,254
Current assets
Stocks613,13613,136
Debtors7425,376546,264
Cash at bank and on hand392,202248,882
830,714808,282
Creditors amounts falling due within one year8(443,257)(451,468)
Net current assets (liabilities)387,457356,814
Total assets less current liabilities396,787368,068
Creditors amounts falling due after one year9(42,917)(48,387)
Net assets353,870319,681
Capital and reserves
Called up share capital1,0001,000
Profit and loss account352,870318,681
Shareholders' funds353,870319,681
The financial statements were approved and authorised for issue by the Board of Directors on 1 March 2024, and are signed on its behalf by:
G M Davis
Director
Registered Company No. 11978871
DAVIS WOOLFE LIMITED
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
Davis Woolfe Limited is a private company limited by shares and incorporated in England and Wales (registered number: 11978871). The registered office is 1 King William Street, London, EC4N 7AF. The financial statements are presented in Sterling, which is the functional currency of the company.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment5
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year88
5.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 June 2220,67520,675
Additions2,7642,764
At 31 May 2323,43923,439
Depreciation and impairment
At 01 June 229,4219,421
Charge for year4,6884,688
At 31 May 2314,10914,109
Net book value
At 31 May 239,3309,330
At 31 May 2211,25411,254
6.Stocks

2023

2022

££
Work in progress13,13613,136
Total13,13613,136
7.Debtors

2023

2022

££
Trade debtors / trade receivables400,585479,259
Other debtors16,27016,235
Prepayments and accrued income8,52150,770
Total425,376546,264
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables12,3234,537
Bank borrowings and overdrafts59,634173,900
Taxation and social security117,29827,882
Other creditors2,460113,110
Accrued liabilities and deferred income251,542132,039
Total443,257451,468
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts42,91748,387
Total42,91748,387