IRIS Accounts Production v24.2.0.383 09865269 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh098652692022-12-31098652692023-12-31098652692023-01-012023-12-31098652692021-12-31098652692022-01-012022-12-31098652692022-12-3109865269ns15:EnglandWales2023-01-012023-12-3109865269ns14:PoundSterling2023-01-012023-12-3109865269ns10:Director12023-01-012023-12-3109865269ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3109865269ns10:SmallEntities2023-01-012023-12-3109865269ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3109865269ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3109865269ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109865269ns10:FullAccounts2023-01-012023-12-310986526912023-01-012023-12-3109865269ns10:Director22023-01-012023-12-3109865269ns10:Director32023-01-012023-12-3109865269ns10:Director42023-01-012023-12-3109865269ns10:RegisteredOffice2023-01-012023-12-3109865269ns5:CurrentFinancialInstruments2023-12-3109865269ns5:CurrentFinancialInstruments2022-12-3109865269ns5:ShareCapital2023-12-3109865269ns5:ShareCapital2022-12-3109865269ns5:SharePremium2023-12-3109865269ns5:SharePremium2022-12-3109865269ns5:RetainedEarningsAccumulatedLosses2023-12-3109865269ns5:RetainedEarningsAccumulatedLosses2022-12-3109865269ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3109865269ns5:NetGoodwill2022-12-3109865269ns5:NetGoodwill2023-01-012023-12-3109865269ns5:NetGoodwill2023-12-3109865269ns5:NetGoodwill2022-12-3109865269ns5:PlantMachinery2022-12-3109865269ns5:PlantMachinery2023-01-012023-12-3109865269ns5:PlantMachinery2023-12-3109865269ns5:PlantMachinery2022-12-3109865269ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3109865269ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3109865269ns10:Director222022-12-3109865269ns10:Director222021-12-3109865269ns10:Director222023-01-012023-12-3109865269ns10:Director222022-01-012022-12-3109865269ns10:Director222023-12-3109865269ns10:Director222022-12-31098652693ns10:Director32022-12-31098652693ns10:Director32021-12-31098652693ns10:Director32023-01-012023-12-31098652693ns10:Director32022-01-012022-12-31098652693ns10:Director32023-12-31098652693ns10:Director32022-12-31098652694ns10:Director42022-12-31098652694ns10:Director42021-12-31098652694ns10:Director42023-01-012023-12-31098652694ns10:Director42022-01-012022-12-31098652694ns10:Director42023-12-31098652694ns10:Director42022-12-31
REGISTERED NUMBER: 09865269 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023

FOR

DAVIES & DAVIES ESTATE AGENTS LTD

DAVIES & DAVIES ESTATE AGENTS LTD (REGISTERED NUMBER: 09865269)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAVIES & DAVIES ESTATE AGENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M D Davies
Ms C H Davies
A M Reach
M D Scales





REGISTERED OFFICE: 85 Stroud Green Road
London
N4 3EG





REGISTERED NUMBER: 09865269 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

DAVIES & DAVIES ESTATE AGENTS LTD (REGISTERED NUMBER: 09865269)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 238,000 272,000
Tangible assets 5 13,468 13,767
251,468 285,767

CURRENT ASSETS
Debtors 6 168,685 100,763
Cash at bank 186,321 249,982
355,006 350,745
CREDITORS
Amounts falling due within one year 7 52,358 82,361
NET CURRENT ASSETS 302,648 268,384
TOTAL ASSETS LESS CURRENT
LIABILITIES

554,116

554,151

CAPITAL AND RESERVES
Called up share capital 1,177 1,177
Share premium 552,457 552,457
Profit and loss account 482 517
SHAREHOLDERS' FUNDS 554,116 554,151

DAVIES & DAVIES ESTATE AGENTS LTD (REGISTERED NUMBER: 09865269)

BALANCE SHEET - continued
31 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 25 September 2024 and were signed on its behalf by:





M D Davies - Director


DAVIES & DAVIES ESTATE AGENTS LTD (REGISTERED NUMBER: 09865269)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Davies & Davies Estate Agents 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.

Changes in accounting policies
A change in accounting policy has been made in the year whereby the accounts no longer disclose a current asset and corresponding current liability for funds held in designated client accounts. Accordingly, current assets and current liabilities have been reduced in the comparatives by an amount of £501,584.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from commissions on residential sales and lettings is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on completion of services; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The intangible asset relates to Goodwill, being the amount paid in connection with the acquisition of a business in 2015. Goodwill is being amortised evenly over its estimated useful life of fifteen years.

Tangible fixed assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less and accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings - over the period of the leasehold interests
Plant and machinery etc. - 25% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

DAVIES & DAVIES ESTATE AGENTS LTD (REGISTERED NUMBER: 09865269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

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.

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.

The company also contributes into a personal pension scheme in the name of one of the company's directors. Contributions to the scheme are charged to profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

DAVIES & DAVIES ESTATE AGENTS LTD (REGISTERED NUMBER: 09865269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 510,000
AMORTISATION
At 1 January 2023 238,000
Charge for year 34,000
At 31 December 2023 272,000
NET BOOK VALUE
At 31 December 2023 238,000
At 31 December 2022 272,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 82,191
Additions 12,693
At 31 December 2023 94,884
DEPRECIATION
At 1 January 2023 68,424
Charge for year 12,992
At 31 December 2023 81,416
NET BOOK VALUE
At 31 December 2023 13,468
At 31 December 2022 13,767

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 624 -
Other debtors 168,061 100,763
168,685 100,763

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 46,288 75,451
Other creditors 6,070 6,910
52,358 82,361

DAVIES & DAVIES ESTATE AGENTS LTD (REGISTERED NUMBER: 09865269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Ms C H Davies
Balance outstanding at start of year 16,583 -
Amounts advanced 21,287 16,583
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,870 16,583

A M Reach
Balance outstanding at start of year 16,583 -
Amounts advanced 21,287 16,583
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,870 16,583

M D Scales
Balance outstanding at start of year 16,583 -
Amounts advanced 21,287 16,583
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,870 16,583

The Company is charging interest of 2% on advances to directors.