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REGISTERED NUMBER: 03192283 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Davon Limited

Davon Limited (Registered number: 03192283)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Davon Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: D Norman
C D Hector





REGISTERED OFFICE: Terminal Buildings
Blackbushe Airport
Camberley
Surrey
GU17 9LQ





REGISTERED NUMBER: 03192283 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

Davon Limited (Registered number: 03192283)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,174 4,783
Investments 6 145,905 145,905
149,079 150,688

CURRENT ASSETS
Debtors 7 645,354 450,197
Cash at bank and in hand 106,661 134,268
752,015 584,465
CREDITORS
Amounts falling due within one year 8 (162,251 ) (108,578 )
NET CURRENT ASSETS 589,764 475,887
TOTAL ASSETS LESS CURRENT
LIABILITIES

738,843

626,575

CREDITORS
Amounts falling due after more than one
year

9

(11,281

)

(21,508

)

PROVISIONS FOR LIABILITIES (796 ) (1,196 )
NET ASSETS 726,766 603,871

CAPITAL AND RESERVES
Called up share capital 80,000 80,000
Retained earnings 646,766 523,871
SHAREHOLDERS' FUNDS 726,766 603,871

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Davon Limited (Registered number: 03192283)

Statement of Financial Position - continued
30 April 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 9 August 2024 and were signed on its behalf by:





D Norman - Director


Davon Limited (Registered number: 03192283)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Davon 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 (£).


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 represents net invoiced sales of services, excluding value added tax.

Turnover represents the value of the services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the statement of financial position date, turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and as part of creditors due within one year.

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.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33.33% on cost

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 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.

Pension costs and other post-retirement benefits
The company contributes to privately administered pension plans which are charged to the Income Statement when they are paid, and to a defined contribution scheme for staff which are charged to the Income Statement in the period to which they relate.

Davon Limited (Registered number: 03192283)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Operating leases
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

Fixed asset investments
Fixed asset investments are stated at cost unless, in the opinion of the directors, there has been an impairment, in which case an appropriate adjustment is made.

Recoverability of receivables
The company establishes a provision for loans receivable (trade debtors) that are estimated not to be recoverable based on its sub-participation interest in the end loan to developers. When assessing recoverability the directors considers factors such as the aging of the receivables, past experience of recoverability and the credit profile of the developer.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 53,499
AMORTISATION
At 1 May 2023
and 30 April 2024 53,499
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023 5,225 17,394 22,619
Additions 350 - 350
Disposals - (5,018 ) (5,018 )
At 30 April 2024 5,575 12,376 17,951
DEPRECIATION
At 1 May 2023 5,119 12,717 17,836
Charge for year 39 1,910 1,949
Eliminated on disposal - (5,008 ) (5,008 )
At 30 April 2024 5,158 9,619 14,777
NET BOOK VALUE
At 30 April 2024 417 2,757 3,174
At 30 April 2023 106 4,677 4,783

Davon Limited (Registered number: 03192283)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 145,905
NET BOOK VALUE
At 30 April 2024 145,905
At 30 April 2023 145,905

Investments represents the company's investment in Strata Residential Finance PLC.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 551,391 369,522
Prepayments and other debtors 12,562 12,610
Directors' current accounts 67,828 54,492
S.455 tax 13,573 13,573
645,354 450,197

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 10,227 9,975
Trade creditors 5,746 3,425
Tax 70,232 29,204
Social security and other taxes 2,156 2,861
Other creditors 442 344
Accruals 794 2,618
Deferred income 72,654 60,151
162,251 108,578

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 11,281 10,227
Bank loans - 2-5 years - 11,281
11,281 21,508

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 12,947 11,097
Between one and five years 11,097 20,345
24,044 31,442

Davon Limited (Registered number: 03192283)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
D Norman
Balance outstanding at start of year (54,192 ) (54,667 )
Amounts advanced 312 971
Amounts repaid (686 ) (496 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (54,566 ) (54,192 )

C D Hector
Balance outstanding at start of year (300 ) (297 )
Amounts advanced 2,612 493
Amounts repaid (15,574 ) (496 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,262 ) (300 )

The loans provided to or by D Norman and C D Hector are unsecured, interest free and repayable on demand.

12. SECURITIES AND CHARGES

The bank holds a debenture secured by a floating charge over the company's assets and a personal guarantee by D Norman.