Registered number
04545625
David H Myers (Penwortham) Limited
Unaudited Filleted Accounts
30 September 2023
David H Myers (Penwortham) Limited
Registered number: 04545625
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 261,081 270,112
Current assets
Stocks 39,406 45,280
Debtors 4 39,058 15,802
Cash at bank and in hand 79,729 69,299
158,193 130,381
Creditors: amounts falling due within one year 5 (129,060) (98,173)
Net current assets 29,133 32,208
Total assets less current liabilities 290,214 302,320
Creditors: amounts falling due after more than one year 6 (29,148) (43,877)
Provisions for liabilities (6,611) (8,467)
Net assets 254,455 249,976
Capital and reserves
Called up share capital 192 192
Share premium 69,908 69,908
Profit and loss account 184,355 179,876
Shareholders' funds 254,455 249,976
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Myers Mr R Lowther
Director Director
Mr B Myers
Director
Approved by the board on 25 March 2024
David H Myers (Penwortham) Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 2% straight line
Equipment 25% reducing balance
Fixtures and fittings 15% reducing balance
Computer equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2022 240,749 171,796 412,545
Disposals - (12,035) (12,035)
At 30 September 2023 240,749 159,761 400,510
Depreciation
At 1 October 2022 5,297 137,136 142,433
Charge for the year 815 7,898 8,713
On disposals - (11,717) (11,717)
At 30 September 2023 6,112 133,317 139,429
Net book value
At 30 September 2023 234,637 26,444 261,081
At 30 September 2022 235,452 34,660 270,112
4 Debtors 2023 2022
£ £
Trade debtors 16,040 14,173
Other debtors 23,018 1,629
39,058 15,802
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,456 23,990
Trade creditors 13,580 7,720
Amounts owed to group undertakings and undertakings in which the company has a participating interest 58,261 20,217
Taxation and social security costs 31,118 25,602
Other creditors 3,645 20,644
129,060 98,173
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 29,148 43,877
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr R Lowther
[Loan 1] (14,376) 70,254 (35,000) 20,878
(14,376) 70,254 (35,000) 20,878
8 Other information
David H Myers (Penwortham) Limited is a private company limited by shares and incorporated in England. Its registered office is:
300 St Mary's Road
Garston
Liverpool
Merseyside
L19 0NQ
David H Myers (Penwortham) Limited 04545625 false 2022-10-01 2023-09-30 2023-09-30 VT Final Accounts October 2023 release 2 Mr D Myers No description of principal activity 04545625 2021-10-01 2022-09-30 04545625 core:WithinOneYear 2022-09-30 04545625 core:AfterOneYear 2022-09-30 04545625 core:ShareCapital 2022-09-30 04545625 core:SharePremium 2022-09-30 04545625 core:RetainedEarningsAccumulatedLosses 2022-09-30 04545625 2022-10-01 2023-09-30 04545625 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 04545625 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 04545625 bus:Director40 2022-10-01 2023-09-30 04545625 1 2022-10-01 2023-09-30 04545625 2 2022-10-01 2023-09-30 04545625 core:LandBuildings 2022-10-01 2023-09-30 04545625 core:PlantMachinery 2022-10-01 2023-09-30 04545625 bus:Director2 2022-10-01 2023-09-30 04545625 bus:Director2 1 2022-10-01 2023-09-30 04545625 countries:England 2022-10-01 2023-09-30 04545625 bus:FRS102 2022-10-01 2023-09-30 04545625 bus:FullAccounts 2022-10-01 2023-09-30 04545625 2023-09-30 04545625 core:WithinOneYear 2023-09-30 04545625 core:AfterOneYear 2023-09-30 04545625 core:ShareCapital 2023-09-30 04545625 core:SharePremium 2023-09-30 04545625 core:RetainedEarningsAccumulatedLosses 2023-09-30 04545625 core:LandBuildings 2023-09-30 04545625 core:PlantMachinery 2023-09-30 04545625 bus:Director2 1 2023-09-30 04545625 2022-09-30 04545625 core:LandBuildings 2022-09-30 04545625 core:PlantMachinery 2022-09-30 04545625 bus:Director2 1 2022-09-30 iso4217:GBP xbrli:pure