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REGISTERED NUMBER: 09982046 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

G DAVIES & DAUGHTERS LIMITED

G DAVIES & DAUGHTERS LIMITED (REGISTERED NUMBER: 09982046)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G DAVIES & DAUGHTERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: G P Davies





SECRETARY:





REGISTERED OFFICE: Cwtch Corner
17 Clos Yr Ysgol
Stepaside
Pembrokeshire
SA67 8NZ





REGISTERED NUMBER: 09982046 (England and Wales)





ACCOUNTANTS: Great Nash Accountancy Services
31 Church View
Summerhill
Stepaside
Pembrokeshire
SA67 8LZ

G DAVIES & DAUGHTERS LIMITED (REGISTERED NUMBER: 09982046)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,874 36,453

CURRENT ASSETS
Stocks 12,750 3,500
Debtors 5 15,460 34,200
Cash at bank and in hand - 10,343
28,210 48,043
CREDITORS
Amounts falling due within one year 6 98,831 104,884
NET CURRENT LIABILITIES (70,621 ) (56,841 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(20,747

)

(20,388

)

CREDITORS
Amounts falling due after more than one
year

7

(10,880

)

(19,881

)

PROVISIONS FOR LIABILITIES (6,440 ) (6,925 )
NET LIABILITIES (38,067 ) (47,194 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (38,167 ) (47,294 )
SHAREHOLDERS' FUNDS (38,067 ) (47,194 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

G DAVIES & DAUGHTERS LIMITED (REGISTERED NUMBER: 09982046)

BALANCE SHEET - continued
29 FEBRUARY 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 director and authorised for issue on 18 October 2024 and were signed by:





G P Davies - Director


G DAVIES & DAUGHTERS LIMITED (REGISTERED NUMBER: 09982046)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

G Davies & Daughters 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance and 10% on cost

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

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 8 ) .

G DAVIES & DAUGHTERS LIMITED (REGISTERED NUMBER: 09982046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 46,701
Additions 19,403
At 29 February 2024 66,104
DEPRECIATION
At 1 March 2023 10,248
Charge for year 5,982
At 29 February 2024 16,230
NET BOOK VALUE
At 29 February 2024 49,874
At 28 February 2023 36,453

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 15,460 34,200

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 9,458 9,000
Trade creditors 37,210 49,162
Taxation and social security 49,213 43,772
Other creditors 2,950 2,950
98,831 104,884

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 10,880 19,881

G DAVIES & DAUGHTERS LIMITED (REGISTERED NUMBER: 09982046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
G P Davies
Balance outstanding at start of year (34,149 ) (13,752 )
Amounts advanced 50,514 11,355
Amounts repaid (31,774 ) (31,752 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (15,409 ) (34,149 )

Interest charged to director on overdrawn balance at market rate of interest.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G P Davies.

10. GOING CONCERN

Although the Balance Sheet shows a Net Liability position as at 29 February 2024, up to date management accounts and forecast reporting illustrate that the company's profitability has now improved post year end and the Balance Sheet should be in a Net Asset position by the next financial year end.