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REGISTERED NUMBER: 00972934 (England and Wales)















Financial Statements for the Year Ended 30 September 2023

for

F G Davis & Sons (Contractors) Limited

F G Davis & Sons (Contractors) Limited (Registered number: 00972934)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F G Davis & Sons (Contractors) Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: M C Davis
R F C Davis





SECRETARY: R F C Davis





REGISTERED OFFICE: Smestow Bridge
Bridgnorth Road
Wombourne
Wolverhampton
West Midlands
WV5 8AY





REGISTERED NUMBER: 00972934 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

F G Davis & Sons (Contractors) Limited (Registered number: 00972934)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,436 28,659
Investment property 5 1,757,299 1,757,299
1,783,735 1,785,958

CURRENT ASSETS
Debtors 6 42,251 70,026
Cash at bank and in hand 562 2,278
42,813 72,304
CREDITORS
Amounts falling due within one year 7 389,843 464,167
NET CURRENT LIABILITIES (347,030 ) (391,863 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,436,705

1,394,095

CREDITORS
Amounts falling due after more than one
year

8

(849,756

)

(845,183

)

PROVISIONS FOR LIABILITIES (13,382 ) (11,741 )
NET ASSETS 573,567 537,171

CAPITAL AND RESERVES
Called up share capital 10 900 900
Revaluation reserve 11 327,569 327,569
Retained earnings 245,098 208,702
SHAREHOLDERS' FUNDS 573,567 537,171

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

F G Davis & Sons (Contractors) Limited (Registered number: 00972934)

Balance Sheet - continued
30 September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:





M C Davis - Director


F G Davis & Sons (Contractors) Limited (Registered number: 00972934)

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

1. STATUTORY INFORMATION

F G Davis & Sons (Contractors) Limited 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts.

Turnover from the provision of goods and services is recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation (see note 6 to these financial statements).

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

F G Davis & Sons (Contractors) Limited (Registered number: 00972934)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2022
and 30 September 2023 15,360 51,263 20,779 16,395 103,797
DEPRECIATION
At 1 October 2022 - 40,245 20,779 14,114 75,138
Charge for year - 1,653 - 570 2,223
At 30 September 2023 - 41,898 20,779 14,684 77,361
NET BOOK VALUE
At 30 September 2023 15,360 9,365 - 1,711 26,436
At 30 September 2022 15,360 11,018 - 2,281 28,659

Included in cost of land and buildings is freehold land of £ 15,360 (2022 - £ 15,360 ) which is not depreciated.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 1,757,299
NET BOOK VALUE
At 30 September 2023 1,757,299
At 30 September 2022 1,757,299

The directors consider the above value to be materially accurate as at the balance sheet date.

F G Davis & Sons (Contractors) Limited (Registered number: 00972934)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 40,690 67,448
Other debtors 1,561 2,578
42,251 70,026

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 58,647 99,385
Trade creditors 4,718 7,348
Taxation and social security 27,123 29,533
Other creditors 299,355 327,901
389,843 464,167

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 551,848 547,275
Other creditors 297,908 297,908
849,756 845,183

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 yr by
instalments 385,733 119,807
385,733 119,807

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 13,201 10,195
Bank loans 597,294 636,465
610,495 646,660

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
900 Ordinary shares £1 900 900

F G Davis & Sons (Contractors) Limited (Registered number: 00972934)

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

11. RESERVES
Revaluation
reserve
£   
At 1 October 2022
and 30 September 2023 327,569