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REGISTERED NUMBER: 04131500 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

R K DAVIES ENGINEERING LIMITED

R K DAVIES ENGINEERING LIMITED (REGISTERED NUMBER: 04131500)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


R K DAVIES ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 March 2024







DIRECTORS: Mrs M G Davies
Mr S Davies



REGISTERED OFFICE: 41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX



REGISTERED NUMBER: 04131500 (England and Wales)



ACCOUNTANTS: Mitchell Glanville Limited
Chartered Accountants
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX



BANKERS: HSBC
The Cross
Gloucester
GL1 2AP

R K DAVIES ENGINEERING LIMITED (REGISTERED NUMBER: 04131500)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,014 22,517
18,014 22,517

CURRENT ASSETS
Stocks 6 925 850
Debtors 7 128,407 84,390
Cash at bank 868,719 841,436
998,051 926,676
CREDITORS
Amounts falling due within one year 8 71,659 66,706
NET CURRENT ASSETS 926,392 859,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

944,406

882,487

PROVISIONS FOR LIABILITIES 4,096 5,132
NET ASSETS 940,310 877,355

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 940,210 877,255
SHAREHOLDERS' FUNDS 940,310 877,355

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

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

R K DAVIES ENGINEERING LIMITED (REGISTERED NUMBER: 04131500)

BALANCE SHEET - continued
31 March 2024


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 30 July 2024 and were signed on its behalf by:




Mrs M G Davies - Director



Mr S Davies - Director


R K DAVIES ENGINEERING LIMITED (REGISTERED NUMBER: 04131500)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024

1. STATUTORY INFORMATION

R K Davies Engineering 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.

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

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of five years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance
Computer equipment - 20% on reducing balance

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

R K DAVIES ENGINEERING LIMITED (REGISTERED NUMBER: 04131500)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 463,500
AMORTISATION
At 1 April 2023
and 31 March 2024 463,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 324,133 31,890 356,023
DEPRECIATION
At 1 April 2023 304,831 28,675 333,506
Charge for year 3,860 643 4,503
At 31 March 2024 308,691 29,318 338,009
NET BOOK VALUE
At 31 March 2024 15,442 2,572 18,014
At 31 March 2023 19,302 3,215 22,517

6. STOCKS
2024 2023
£    £   
Stocks 925 850

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 121,094 78,907
Prepayments 7,313 5,483
128,407 84,390

R K DAVIES ENGINEERING LIMITED (REGISTERED NUMBER: 04131500)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,892 6,568
Tax 42,017 43,743
VAT 22,567 14,212
Directors' loan accounts 82 82
Accrued expenses 2,101 2,101
71,659 66,706

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors is an amount of £82 (2023 - £82) owing to the director, Mrs M G Davies.

10. RELATED PARTY DISCLOSURES

The property that the company trades from is owned by the SIPP of the director, Mrs M G Davies. Annual rent of £23,836 was paid to the SIPP by R K Davies Engineering Limited in the year (2023 - £23,500)

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Davies.