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Registered Number: 13025559
England and Wales

 

 

 

DAVMAR PROPERTIES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Directors Mr David Stanley Smith
Mr Mark David Smith
Registered Number 13025559
Registered Office 25 Berryfields
Aldridge
Walsall
WS9 0EL
Accountants Marneros Marcus & Co Limited
First Floor Hagley Court
40 Vicarage Road Edgbaston
Birmingham
B153EZ
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 212,526   
212,526   
Current assets      
Stocks 4 165,160   
Debtors 5 5,032    5,000 
Cash at bank and in hand 15,546    3,367 
185,738    8,367 
Creditors: amount falling due within one year 6 (308,212)   (5,598)
Net current assets (122,474)   2,769 
 
Total assets less current liabilities 90,052    2,769 
Creditors: amount falling due after more than one year 7 (97,707)  
Net assets (7,655)   2,769 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account (7,665)   2,759 
Shareholders' funds (7,655)   2,769 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 August 2024 and were signed on its behalf by:


-------------------------------
Mr Mark David Smith
Director
-------------------------------
Mr David Stanley Smith
Director
2
General Information
Davmar Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 13025559, registration address 25 Berryfields, Aldridge, Walsall, WS9 0EL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 December 2022 212,526    212,526 
Additions  
Disposals  
At 30 November 2023 212,526    212,526 
Depreciation
At 01 December 2022  
Charge for year  
On disposals  
At 30 November 2023  
Net book values
Closing balance as at 30 November 2023 212,526    212,526 
Opening balance as at 01 December 2022 212,526    212,526 


4.

Stocks

2023
£
  2022
£
Work in Progress 165,160   
165,160   

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors   5,000 
  5,000 

5.

Debtors: amounts falling due after one year

2023
£
  2022
£
Prepayments 32   
Other Debtors 5,000   
5,032   

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 960    960 
Corporation Tax   647 
Accrued Expenses 480   
Directors' Current Accounts 306,772    3,991 
308,212    5,598 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 97,707   
97,707   

3