Company Registration No. 02780841 (England and Wales)
Davis & Hadwin Limited
Unaudited accounts
for the year ended 31 March 2024
Davis & Hadwin Limited
Unaudited accounts
Contents
Davis & Hadwin Limited
Company Information
for the year ended 31 March 2024
Company Number
02780841 (England and Wales)
Registered Office
Stewner Park Farm
Marton
Ulverston
Cumbria
LA12 0NR
England
Accountants
EHA Accountancy Ltd
2 Lower Brook Street
Ulverston
Cumbria
LA12 7EE
Davis & Hadwin Limited
Statement of financial position
as at 31 March 2024
Tangible assets
16,395
21,137
Cash at bank and in hand
90,857
131,577
Creditors: amounts falling due within one year
(21,904)
(34,543)
Net current assets
91,046
98,345
Total assets less current liabilities
107,441
119,482
Provisions for liabilities
Deferred tax
(3,115)
(3,792)
Net assets
104,326
115,690
Called up share capital
2,000
2,000
Profit and loss account
102,326
113,690
Shareholders' funds
104,326
115,690
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 September 2024 and were signed on its behalf by
Philip Hadwin
Director
Company Registration No. 02780841
Davis & Hadwin Limited
Notes to the Accounts
for the year ended 31 March 2024
Davis & Hadwin Limited is a private company, limited by shares, registered in England and Wales, registration number 02780841. The registered office is Stewner Park Farm, Marton , Ulverston, Cumbria, LA12 0NR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Davis & Hadwin Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2023
28,186
26,370
54,556
At 31 March 2024
28,909
26,370
55,279
At 1 April 2023
11,741
21,678
33,419
Charge for the year
4,292
1,173
5,465
At 31 March 2024
16,033
22,851
38,884
At 31 March 2024
12,876
3,519
16,395
At 31 March 2023
16,445
4,692
21,137
Amounts falling due within one year
Accrued income and prepayments
884
518
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,830
7,542
Taxes and social security
500
2,574
Loans from directors
15,182
22,941
7
Transactions with related parties
Included within creditors is an amount due to the director of £15,182 (2023: £22,941). No interest has been charged on this balance.
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Average number of employees
During the year the average number of employees was 1 (2023: 1).