Company No:
Contents
Note | 2024 | 2023 | ||
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Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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Investments | 5 |
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1,007,459 | 1,041,884 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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79,438 | 88,188 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 69,283 | 77,747 | ||
Total assets less current liabilities | 1,076,742 | 1,119,631 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Fair value reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of C and R Davies Ltd (registered number:
Mr C R Davies
Director |
Mrs R M Davies
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.
C and R Davies Ltd (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 Leanne House, 6 Avon Close, Weymouth, DT4 9UX, 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 £.
Vehicles |
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Fixtures and fittings |
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Office equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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 Profit and Loss Account as described below.
The fair value is determined annually by the directors, on an open market value for existing use basis.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Vehicles | Fixtures and fittings | Office equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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At 31 March 2023 |
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Investment property | |
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Valuation | |
As at 01 April 2023 |
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As at 31 March 2024 |
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Valuation
The fair value of the group’s residential investment property at 31 March 2024 have been arrived at on the basis of valuations carried out on that date by the directors. The basis of this valuation was open market value.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
2024 | 2023 | ||
£ | £ | ||
Historic cost | 558,201 | 558,201 |
Listed investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 April 2023 |
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Additions |
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Disposals | (
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Movement in fair value |
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At 31 March 2024 |
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Carrying value at 31 March 2024 |
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Carrying value at 31 March 2023 |
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2024 | 2023 | ||
£ | £ | ||
Corporation tax |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Other creditors |
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Transactions with the entity's directors
The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
At 1 April 2023, the balance owed by the directors was £6. During the year, £nil was advanced to the directors, and £118 was repaid by the directors. At 31 March 2024, the balance owed to the directors was £112.
At 1 April 2022, the balance owed to the directors was £90. During the year, £2,300 was advanced to the directors, and £2,204 was repaid by the directors. At 31 March 2023, the balance owed by the directors was £6.