Company No:
Contents
DIRECTOR | C Davis |
SECRETARY | C Davis |
REGISTERED OFFICE | Cuitcarow Farm |
Pencarrow | |
Camelford | |
PL32 9RZ | |
United Kingdom |
COMPANY NUMBER | 08276628 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Lowin House | |
Tregolls Road | |
Truro | |
Cornwall TR1 2NA |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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1,186,973 | 1,264,069 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand | 6 |
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107,090 | 378,917 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 50,148 | 199,444 | ||
Total assets less current liabilities | 1,237,121 | 1,463,513 | ||
Creditors: amounts falling due after more than one year | 8 |
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Provision for liabilities |
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 9 |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Davis Wood Holdings Limited (registered number:
C Davis
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Davis Wood Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Cuitcarow Farm, Pencarrow, Camelford, PL32 9RZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Land and buildings | not depreciated |
Leasehold improvements | not depreciated |
Plant and machinery |
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Vehicles |
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Computer equipment |
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Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Land and buildings | Leasehold improve- ments |
Plant and machinery | Vehicles | Computer equipment | Total | ||||||
£ | £ | £ | £ | £ | £ | ||||||
Cost | |||||||||||
At 01 June 2022 |
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Additions |
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At 31 May 2023 |
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Accumulated depreciation | |||||||||||
At 01 June 2022 |
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Charge for the financial year |
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At 31 May 2023 |
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Net book value | |||||||||||
At 31 May 2023 |
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At 31 May 2022 |
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2023 | 2022 | ||
£ | £ | ||
Participating interests |
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Other investments and loans |
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274,240 | 373,574 |
2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by director |
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Prepayments |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Cash at bank and in hand |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Corporation tax | (
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Other taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Other financial commitments
2023 | 2022 | ||
£ | £ | ||
Operating lease |
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Transactions with the entity's director
2023 | 2022 | ||
£ | £ | ||
Interest free loan to Clive Davis | 80 | 30 |
Advances
Other related party transactions
2023 | 2022 | ||
£ | £ | ||
During the year, sales were made to Logan Electronics Limited (an associate of the company) of | 127,690 | 95,627 |