IRIS Accounts Production v24.2.0.383 02854867 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model Ordinary 1.00000 Ordinary A 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028548672023-03-31028548672024-03-31028548672023-04-012024-03-31028548672022-03-31028548672022-04-012023-03-31028548672023-03-3102854867ns15:EnglandWales2023-04-012024-03-3102854867ns14:PoundSterling2023-04-012024-03-3102854867ns10:Director12023-04-012024-03-3102854867ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3102854867ns10:SmallEntities2023-04-012024-03-3102854867ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3102854867ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3102854867ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102854867ns10:FullAccounts2023-04-012024-03-3102854867ns10:OrdinaryShareClass12023-04-012024-03-3102854867ns10:OrdinaryShareClass22023-04-012024-03-3102854867ns10:Director22023-04-012024-03-3102854867ns10:CompanySecretary12023-04-012024-03-3102854867ns10:RegisteredOffice2023-04-012024-03-3102854867ns5:CurrentFinancialInstruments2024-03-3102854867ns5:CurrentFinancialInstruments2023-03-3102854867ns5:ShareCapital2024-03-3102854867ns5:ShareCapital2023-03-3102854867ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3102854867ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3102854867ns5:RetainedEarningsAccumulatedLosses2024-03-3102854867ns5:RetainedEarningsAccumulatedLosses2023-03-3102854867ns5:ComputerEquipment2023-04-012024-03-3102854867ns5:ComputerEquipment2023-03-3102854867ns5:ComputerEquipment2024-03-3102854867ns5:ComputerEquipment2023-03-3102854867ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3102854867ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3102854867ns5:Non-currentFinancialInstruments2024-03-3102854867ns5:Non-currentFinancialInstruments2023-03-3102854867ns10:OrdinaryShareClass12024-03-3102854867ns10:OrdinaryShareClass22024-03-31
REGISTERED NUMBER: 02854867 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

DAVIS ROOFING (HOLDINGS) LIMITED

DAVIS ROOFING (HOLDINGS) LIMITED (REGISTERED NUMBER: 02854867)

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


DAVIS ROOFING (HOLDINGS) LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R Davis
R J Davis





SECRETARY: R Davis





REGISTERED OFFICE: Yeobank
High Street
Congresbury
Bristol
BS49 5JA





REGISTERED NUMBER: 02854867 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

DAVIS ROOFING (HOLDINGS) LIMITED (REGISTERED NUMBER: 02854867)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 100 499
Investment property 5 806,061 1,231,061
806,161 1,231,560

CURRENT ASSETS
Debtors 6 250,928 741,500
Cash at bank 1,543,070 1,072,311
1,793,998 1,813,811
CREDITORS
Amounts falling due within one year 7 (16,705 ) (16,424 )
NET CURRENT ASSETS 1,777,293 1,797,387
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,583,454

3,028,947

PROVISIONS FOR LIABILITIES (22,675 ) (40,909 )
NET ASSETS 2,560,779 2,988,038

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Fair value reserve 68,025 122,727
Retained earnings 2,491,754 2,864,311
SHAREHOLDERS' FUNDS 2,560,779 2,988,038

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.

DAVIS ROOFING (HOLDINGS) LIMITED (REGISTERED NUMBER: 02854867)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





R Davis - Director


DAVIS ROOFING (HOLDINGS) LIMITED (REGISTERED NUMBER: 02854867)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. COMPANY INFORMATION

Davis Roofing (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 company's principal activities and nature of its operations are that of a property investment company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention, with the exception of investment properties which are carried at fair value. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation and is not subject to depreciation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

DAVIS ROOFING (HOLDINGS) LIMITED (REGISTERED NUMBER: 02854867)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial assets
These include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities
These include trade and other creditors and 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

DAVIS ROOFING (HOLDINGS) LIMITED (REGISTERED NUMBER: 02854867)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 1,198
DEPRECIATION
At 1 April 2023 699
Charge for year 399
At 31 March 2024 1,098
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 499

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,231,061
Disposals (425,000 )
At 31 March 2024 806,061
NET BOOK VALUE
At 31 March 2024 806,061
At 31 March 2023 1,231,061

The valuation of investment properties were made as at 31 March 2024 by the directors on an open market basis. No depreciation is provided in respect of these properties.

On an historical cost basis these would have been included at an original cost of £715,361.

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 250,000 62,500
Prepayments and accrued income 928 -
250,928 62,500

DAVIS ROOFING (HOLDINGS) LIMITED (REGISTERED NUMBER: 02854867)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors - 679,000

Aggregate amounts 250,928 741,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 8,694 9,810
Social security and other taxes 1,257 1,257
Accruals 3,240 3,000
Directors' current accounts 3,514 2,357
16,705 16,424

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
996 Ordinary 1.00 996 1,000
4 Ordinary A 1.00 4 -
1,000 1,000