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REGISTERED NUMBER: 06061790 (England and Wales)


















ST DAVID'S HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






ST DAVID'S HOLDINGS LIMITED (REGISTERED NUMBER: 06061790)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


ST DAVID'S HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Dr R H Rees





SECRETARY: Dr R H Rees





REGISTERED OFFICE: The Graig
Longford
Neath Abbey
Neath
SA10 7LE





REGISTERED NUMBER: 06061790 (England and Wales)





ACCOUNTANTS: MHA
Chartered Accountants
MHA House
Charter Court
Swansea Enterprise Park
Swansea
SA7 9FS

ST DAVID'S HOLDINGS LIMITED (REGISTERED NUMBER: 06061790)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,720,739 2,728,791
Investments 5 1,297,637 1,456,739
4,018,376 4,185,530

CURRENT ASSETS
Debtors 6 520,407 114,310
Cash at bank 754,408 565,768
1,274,815 680,078
CREDITORS
Amounts falling due within one year 7 183,422 96,627
NET CURRENT ASSETS 1,091,393 583,451
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,109,769

4,768,981

CREDITORS
Amounts falling due after more than one
year

8

(1,315,611

)

(1,409,695

)

PROVISIONS FOR LIABILITIES (33,095 ) (25,457 )
NET ASSETS 3,761,063 3,333,829

CAPITAL AND RESERVES
Called up share capital 1,400 1,400
Other reserves 104,417 106,048
Fair value reserve 141,089 108,526
Retained earnings 3,514,157 3,117,855
SHAREHOLDERS' FUNDS 3,761,063 3,333,829

ST DAVID'S HOLDINGS LIMITED (REGISTERED NUMBER: 06061790)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31 July 2024 and were signed by:





Dr R H Rees - Director


ST DAVID'S HOLDINGS LIMITED (REGISTERED NUMBER: 06061790)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

St David's Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in these financial statements are rounded to nearest £.

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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period or in the period of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgements that the director has made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Impairment of assets
Assets are assessed for indicators of impairment at each statement of financial position date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss in the income statement.

Turnover and revenue recognition
Turnover represents rents receivable and is recognised on the basis of the periods to which they relate.

ST DAVID'S HOLDINGS LIMITED (REGISTERED NUMBER: 06061790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property - straight line over the period of the lease
Plant and machinery - 25% straight line
Fixtures and fittings - 20% straight line

Investment property
The company's freehold and leasehold land and buildings are treated as an investment properties, as defined by the Financial Reporting Standard 102 Section 1A "Small Entities." Freehold investment property is not depreciated. Investment properties for which fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value annually, with the change recognised in the income statement. Surpluses or deficits on revaluation are then transferred from Retained Earnings to a separate non-distributable reserve.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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

ST DAVID'S HOLDINGS LIMITED (REGISTERED NUMBER: 06061790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Going concern
The company has made a profit in the year, and has both net current assets and net assets at the balance sheet date. The director has assessed the statement of financial position and likely future cashflows of the company at the date of approving the financial statements. The company had cash at bank at 31 July 2023 of £754,408.

After making enquiries, the director has a reasonable expectation the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 2,864,534 18,504 2,883,038
Additions - 2,379 2,379
At 31 July 2023 2,864,534 20,883 2,885,417
DEPRECIATION
At 1 August 2022 139,755 14,492 154,247
Charge for year 9,270 1,161 10,431
At 31 July 2023 149,025 15,653 164,678
NET BOOK VALUE
At 31 July 2023 2,715,509 5,230 2,720,739
At 31 July 2022 2,724,779 4,012 2,728,791

The company's investment properties have been valued by the director at open market value on the basis of existing use. The director considers that the historical cost is not materially different to the fair value of the properties at the balance sheet date.

ST DAVID'S HOLDINGS LIMITED (REGISTERED NUMBER: 06061790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 199,303 1,257,436 1,456,739
Disposals (199,303 ) - (199,303 )
Revaluations - 40,201 40,201
At 31 July 2023 - 1,297,637 1,297,637
NET BOOK VALUE
At 31 July 2023 - 1,297,637 1,297,637
At 31 July 2022 199,303 1,257,436 1,456,739

Investments in subsidiary undertakings are recognised at cost less impairment.

6. DEBTORS

20232022
££

Other debtors 520,407114,310


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

20232022
££

Other creditors 183,42296,627


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

20232022
££

Other creditors 1,315,6111,409,695