Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falseNo description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04594345 2022-12-01 2023-11-30 04594345 2021-12-01 2022-11-30 04594345 2023-11-30 04594345 2022-11-30 04594345 c:Director1 2022-12-01 2023-11-30 04594345 d:PlantMachinery 2022-12-01 2023-11-30 04594345 d:PlantMachinery 2023-11-30 04594345 d:PlantMachinery 2022-11-30 04594345 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04594345 d:MotorVehicles 2022-12-01 2023-11-30 04594345 d:MotorVehicles 2023-11-30 04594345 d:MotorVehicles 2022-11-30 04594345 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04594345 d:OfficeEquipment 2022-12-01 2023-11-30 04594345 d:OfficeEquipment 2023-11-30 04594345 d:OfficeEquipment 2022-11-30 04594345 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04594345 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04594345 d:CurrentFinancialInstruments 2023-11-30 04594345 d:CurrentFinancialInstruments 2022-11-30 04594345 d:Non-currentFinancialInstruments 2023-11-30 04594345 d:Non-currentFinancialInstruments 2022-11-30 04594345 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 04594345 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 04594345 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 04594345 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 04594345 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 04594345 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 04594345 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 04594345 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 04594345 d:ShareCapital 2023-11-30 04594345 d:ShareCapital 2022-11-30 04594345 d:RetainedEarningsAccumulatedLosses 2023-11-30 04594345 d:RetainedEarningsAccumulatedLosses 2022-11-30 04594345 c:FRS102 2022-12-01 2023-11-30 04594345 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 04594345 c:FullAccounts 2022-12-01 2023-11-30 04594345 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04594345 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 04594345 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 04594345 2 2022-12-01 2023-11-30 04594345 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 04594345










P R DAVEY ENGINEERING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
P R DAVEY ENGINEERING LIMITED
REGISTERED NUMBER: 04594345

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
44,151
51,941

  
44,151
51,941

Current assets
  

Stocks
  
1,000
1,000

Debtors: amounts falling due within one year
 5 
47,803
55,869

Cash at bank and in hand
  
20,475
9,043

  
69,278
65,912

Creditors: amounts falling due within one year
 6 
(66,336)
(75,534)

Net current assets/(liabilities)
  
 
 
2,942
 
 
(9,622)

Total assets less current liabilities
  
47,093
42,319

Creditors: amounts falling due after more than one year
 7 
(15,000)
(26,113)

Provisions for liabilities
  

Deferred tax
 9 
(11,038)
(12,985)

  
 
 
(11,038)
 
 
(12,985)

Net assets
  
21,055
3,221


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
20,955
3,121

  
21,055
3,221


Page 1

 
P R DAVEY ENGINEERING LIMITED
REGISTERED NUMBER: 04594345
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P Davey
Director

Date: 15 August 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

P R Davey Engineering Limited is a private company limited by shares and incorporated in England and Wales, registration number 04594345. The registered office is Unit 3 Sterling Complex, Farthing Road Industrial Estate, Ipswich IP6 0NL.
The financial statements are presented in sterling which functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have considered the Company's position at the time of signing the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existance for the forseeable future and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements. 

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15% reducing balance
Motor vehicles
-
15% reducing balance
Office equipment
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
97,734
89,280

97,734
89,280


The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2022
165,576
11,750
2,099
179,425



At 30 November 2023

165,576
11,750
2,099
179,425



Depreciation


At 1 December 2022
123,432
2,526
1,526
127,484


Charge for the year on owned assets
6,320
1,384
86
7,790



At 30 November 2023

129,752
3,910
1,612
135,274



Net book value



At 30 November 2023
35,824
7,840
487
44,151



At 30 November 2022
42,144
9,224
573
51,941

Page 6

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
36,026
42,334

Other debtors
8,889
8,887

Tax recoverable
2,888
4,648

47,803
55,869



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
8,185
15,646

Corporation tax
24,214
17,529

Other taxation and social security
16,204
12,608

Obligations under finance lease and hire purchase contracts
4,470
16,288

Other creditors
859
1,563

Accruals and deferred income
2,404
1,900

66,336
75,534



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
15,000
25,000

Net obligations under finance leases and hire purchase contracts
-
1,113

15,000
26,113


Security on hire purchase assets is provided by a director's personal guarantee.

Page 7

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
5,000
15,000


5,000
15,000


25,000
35,000


This loan is guaranteed by the government under the Bounce Back Loan Scheme.

Page 8

 
P R DAVEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Deferred taxation




2023


£






At beginning of year
(12,985)


Charged to profit or loss
1,947



At end of year
(11,038)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(11,038)
(12,985)

(11,038)
(12,985)

 
Page 9