IRIS Accounts Production v24.1.9.2 03257553 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh032575532023-03-31032575532024-03-31032575532023-04-012024-03-31032575532022-03-31032575532022-04-012023-03-31032575532023-03-3103257553ns15:EnglandWales2023-04-012024-03-3103257553ns14:PoundSterling2023-04-012024-03-3103257553ns10:Director12023-04-012024-03-3103257553ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103257553ns10:SmallEntities2023-04-012024-03-3103257553ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103257553ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103257553ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103257553ns10:FullAccounts2023-04-012024-03-3103257553ns10:Director22023-04-012024-03-3103257553ns10:Director32023-04-012024-03-3103257553ns10:CompanySecretary12023-04-012024-03-3103257553ns10:RegisteredOffice2023-04-012024-03-3103257553ns5:CurrentFinancialInstruments2024-03-3103257553ns5:CurrentFinancialInstruments2023-03-3103257553ns5:Non-currentFinancialInstruments2024-03-3103257553ns5:Non-currentFinancialInstruments2023-03-3103257553ns5:ShareCapital2024-03-3103257553ns5:ShareCapital2023-03-3103257553ns5:RetainedEarningsAccumulatedLosses2024-03-3103257553ns5:RetainedEarningsAccumulatedLosses2023-03-3103257553ns5:LandBuildings2023-03-3103257553ns5:PlantMachinery2023-03-3103257553ns5:LandBuildings2023-04-012024-03-3103257553ns5:PlantMachinery2023-04-012024-03-3103257553ns5:LandBuildings2024-03-3103257553ns5:PlantMachinery2024-03-3103257553ns5:LandBuildings2023-03-3103257553ns5:PlantMachinery2023-03-3103257553ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103257553ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103257553ns5:Secured2024-03-3103257553ns5:Secured2023-03-31
REGISTERED NUMBER: 03257553 (England and Wales)












Andrew Davy Electrical (South West) Ltd

Unaudited Financial Statements

for the Year Ended 31st March 2024






Andrew Davy Electrical (South West) Ltd (Registered number: 03257553)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Andrew Davy Electrical (South West) Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTORS: A J Davy
M A J Davy
N M J Davy





SECRETARY: A J Davy





REGISTERED OFFICE: Meadowbrook
Rilla Mill
Callington
Cornwall
PL17 7NT





REGISTERED NUMBER: 03257553 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

Andrew Davy Electrical (South West) Ltd (Registered number: 03257553)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 279,705 295,372

CURRENT ASSETS
Stocks 27,917 23,738
Debtors 5 81,576 129,358
Cash at bank and in hand 342,863 286,024
452,356 439,120
CREDITORS
Amounts falling due within one year 6 405,146 461,653
NET CURRENT ASSETS/(LIABILITIES) 47,210 (22,533 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,915

272,839

CREDITORS
Amounts falling due after more than one
year

7

(6,803

)

(40,218

)

PROVISIONS FOR LIABILITIES (8,376 ) (11,169 )
NET ASSETS 311,736 221,452

CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings 311,632 221,348
311,736 221,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th July 2024 and were signed on its behalf by:





A J Davy - Director


Andrew Davy Electrical (South West) Ltd (Registered number: 03257553)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Andrew Davy Electrical (South West) Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and Machinery - 25% on reducing balance
Motor Vehicles - 25% on reducing balance
Fixtures and Fittings - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Andrew Davy Electrical (South West) Ltd (Registered number: 03257553)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 314,947 142,654 457,601
DEPRECIATION
At 1st April 2023 64,253 97,976 162,229
Charge for year 4,499 11,168 15,667
At 31st March 2024 68,752 109,144 177,896
NET BOOK VALUE
At 31st March 2024 246,195 33,510 279,705
At 31st March 2023 250,694 44,678 295,372

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 77,804 126,477
Other debtors 3,772 2,881
81,576 129,358

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 6,466
Hire purchase contracts 5,345 5,831
Trade creditors 59,504 56,928
Taxation and social security 69,327 40,243
Other creditors 270,970 352,185
405,146 461,653

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 28,555
Hire purchase contracts 6,803 11,663
6,803 40,218

Andrew Davy Electrical (South West) Ltd (Registered number: 03257553)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 35,021

The bank loan is secured by means of legal charge against the property owned by the company at Lower Measham, Linkinhorne, Callington, Cornwall.

Included in the loans and borrowings are the following amounts due after more than five years:

Bank borrowing - nil (2023: £2,694)