IRIS Accounts Production v24.2.0.383 09423340 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094233402023-04-30094233402024-04-30094233402023-05-012024-04-30094233402022-04-30094233402022-05-012023-04-30094233402023-04-3009423340ns15:EnglandWales2023-05-012024-04-3009423340ns14:PoundSterling2023-05-012024-04-3009423340ns10:Director12023-05-012024-04-3009423340ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3009423340ns10:SmallEntities2023-05-012024-04-3009423340ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3009423340ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3009423340ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3009423340ns10:FullAccounts2023-05-012024-04-300942334012023-05-012024-04-3009423340ns10:Director22023-05-012024-04-3009423340ns10:RegisteredOffice2023-05-012024-04-3009423340ns5:CurrentFinancialInstruments2024-04-3009423340ns5:CurrentFinancialInstruments2023-04-3009423340ns5:Non-currentFinancialInstruments2024-04-3009423340ns5:Non-currentFinancialInstruments2023-04-3009423340ns5:ShareCapital2024-04-3009423340ns5:ShareCapital2023-04-3009423340ns5:RetainedEarningsAccumulatedLosses2024-04-3009423340ns5:RetainedEarningsAccumulatedLosses2023-04-3009423340ns5:PatentsTrademarksLicencesConcessionsSimilar2023-05-012024-04-3009423340ns5:LeaseholdImprovements2023-05-012024-04-3009423340ns5:PlantMachinery2023-05-012024-04-3009423340ns5:MotorVehicles2023-05-012024-04-3009423340ns5:IntangibleAssetsOtherThanGoodwill2023-04-3009423340ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3009423340ns5:IntangibleAssetsOtherThanGoodwill2024-04-3009423340ns5:IntangibleAssetsOtherThanGoodwill2023-04-3009423340ns5:LeaseholdImprovements2023-04-3009423340ns5:PlantMachinery2023-04-3009423340ns5:MotorVehicles2023-04-3009423340ns5:LeaseholdImprovements2024-04-3009423340ns5:PlantMachinery2024-04-3009423340ns5:MotorVehicles2024-04-3009423340ns5:LeaseholdImprovements2023-04-3009423340ns5:PlantMachinery2023-04-3009423340ns5:MotorVehicles2023-04-3009423340ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-012024-04-3009423340ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-04-3009423340ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3009423340ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3009423340ns5:Secured2024-04-3009423340ns5:Secured2023-04-30
REGISTERED NUMBER: 09423340 (England and Wales)












I R & H E Davey Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024






I R & H E Davey Ltd (Registered number: 09423340)






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


I R & H E Davey Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: I R Davey
Mrs H E Davey





REGISTERED OFFICE: Penquite Park
Trerulefoot
Saltash
Cornwall
PL12 5BN





REGISTERED NUMBER: 09423340 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

I R & H E Davey Ltd (Registered number: 09423340)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 11,249
Tangible assets 5 509,335 483,801
509,335 495,050

CURRENT ASSETS
Stocks 462,089 445,847
Debtors 6 82,855 180,691
Cash at bank 23,010 26,628
567,954 653,166
CREDITORS
Amounts falling due within one year 7 652,295 977,864
NET CURRENT LIABILITIES (84,341 ) (324,698 )
TOTAL ASSETS LESS CURRENT LIABILITIES 424,994 170,352

CREDITORS
Amounts falling due after more than one year 8 (296,505 ) (82,015 )

PROVISIONS FOR LIABILITIES (81,987 ) (69,479 )
NET ASSETS 46,502 18,858

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Profit and loss account 45,502 17,858
SHAREHOLDERS' FUNDS 46,502 18,858

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.

I R & H E Davey Ltd (Registered number: 09423340)

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 18 September 2024 and were signed on its behalf by:





Mrs H E Davey - Director


I R & H E Davey Ltd (Registered number: 09423340)

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

1. STATUTORY INFORMATION

I R & H E Davey 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 sales of goods and services, excluding value added tax.

Intangible assets
The Basic Payment Scheme entitlements held in intangible assets have been written off during the year due to them now having a negligible value.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Tenants improvements - Straight line over 15 years
Plant and machinery - 25% on reducing balance and 10% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 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 year was 6 (2023 - 6 ) .

I R & H E Davey Ltd (Registered number: 09423340)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023 11,249
Disposals (11,249 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 11,249

5. TANGIBLE FIXED ASSETS
Tenants Plant and Motor
improvements machinery vehicles Totals
£    £    £    £   
COST
At 1 May 2023 430,871 562,518 48,089 1,041,478
Additions 4,531 151,123 - 155,654
Disposals - (64,159 ) (13,749 ) (77,908 )
At 30 April 2024 435,402 649,482 34,340 1,119,224
DEPRECIATION
At 1 May 2023 224,986 309,921 22,770 557,677
Charge for year 29,027 77,461 5,415 111,903
Eliminated on disposal - (50,186 ) (9,505 ) (59,691 )
At 30 April 2024 254,013 337,196 18,680 609,889
NET BOOK VALUE
At 30 April 2024 181,389 312,286 15,660 509,335
At 30 April 2023 205,885 252,597 25,319 483,801

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 73,950
At 30 April 2024 73,950
DEPRECIATION
Charge for year 12,274
At 30 April 2024 12,274
NET BOOK VALUE
At 30 April 2024 61,676

I R & H E Davey Ltd (Registered number: 09423340)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 907 50,356
Other debtors 81,948 130,335
82,855 180,691

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 89,062 55,880
Hire purchase contracts 9,560 19,334
Trade creditors 30,961 72,631
Taxation and social security 7,865 32,180
Other creditors 514,847 797,839
652,295 977,864

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 286,401 82,015
Hire purchase contracts 10,104 -
296,505 82,015

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 375,463 137,895

The bank loan is secured by way of a fixed and floating charge over the property of the company.

10. RELATED PARTY DISCLOSURES

At the year end there is a balance due to the directors of £492,849, which is repayable on demand.