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REGISTERED NUMBER: 06414008 (England and Wales)










DAVIES RICHARDS DESIGN LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 DECEMBER 2022 TO 31 MARCH 2024






DAVIES RICHARDS DESIGN LTD (REGISTERED NUMBER: 06414008)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2022 TO 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DAVIES RICHARDS DESIGN LTD

COMPANY INFORMATION
FOR THE PERIOD 1 DECEMBER 2022 TO 31 MARCH 2024







DIRECTORS: G R Richards
Mrs S J Richards





SECRETARY: G R Richards





REGISTERED OFFICE: 45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP





REGISTERED NUMBER: 06414008 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

DAVIES RICHARDS DESIGN LTD (REGISTERED NUMBER: 06414008)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,000 50,000
Tangible assets 5 23,779 30,221
63,779 80,221

CURRENT ASSETS
Stocks - 1,725
Debtors 6 10,665 18,753
Cash at bank and in hand 102,247 109,019
112,912 129,497
CREDITORS
Amounts falling due within one year 7 35,243 34,639
NET CURRENT ASSETS 77,669 94,858
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,448

175,079

CREDITORS
Amounts falling due after more than one
year

8

25,323

42,500
NET ASSETS 116,125 132,579

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 116,025 132,479
SHAREHOLDERS' FUNDS 116,125 132,579

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

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

DAVIES RICHARDS DESIGN LTD (REGISTERED NUMBER: 06414008)

STATEMENT OF FINANCIAL POSITION - 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 5 August 2024 and were signed on its behalf by:




G R Richards - Director



Mrs S J Richards - Director


DAVIES RICHARDS DESIGN LTD (REGISTERED NUMBER: 06414008)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2022 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Davies Richards Design 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 represents net invoiced services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% straight line

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Taxation
Taxation for the period 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 period 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.

DAVIES RICHARDS DESIGN LTD (REGISTERED NUMBER: 06414008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2022 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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

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 period was 3 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 31 March 2024 200,000
AMORTISATION
At 1 December 2022 150,000
Amortisation for period 10,000
At 31 March 2024 160,000
NET BOOK VALUE
At 31 March 2024 40,000
At 30 November 2022 50,000

5. TANGIBLE FIXED ASSETS
Fixtures
Office and Motor Computer
equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 6,846 7,308 45,000 3,658 62,812
Additions - 572 - 357 929
At 31 March 2024 6,846 7,880 45,000 4,015 63,741
DEPRECIATION
At 1 December 2022 5,818 3,665 19,688 3,421 32,592
Charge for period 157 633 6,328 252 7,370
At 31 March 2024 5,975 4,298 26,016 3,673 39,962
NET BOOK VALUE
At 31 March 2024 871 3,582 18,984 342 23,779
At 30 November 2022 1,028 3,643 25,312 237 30,220

DAVIES RICHARDS DESIGN LTD (REGISTERED NUMBER: 06414008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2022 TO 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 10,650 18,753
Other debtors 15 -
10,665 18,753

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Taxation and social security 32,159 31,892
Other creditors 3,084 2,747
35,243 34,639

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Other creditors 25,323 42,500

9. RELATED PARTY DISCLOSURES

During the year the directors made funds available to the company to assist with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £675 (2022 - £378).