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REGISTERED NUMBER: 06159518 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

DAVIES BROTHERS CONSTRUCTION LIMITED

DAVIES BROTHERS CONSTRUCTION LIMITED (REGISTERED NUMBER: 06159518)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAVIES BROTHERS CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: NM Davies
JM Davies
C Davies



SECRETARY: NM Davies



REGISTERED OFFICE: Cross Lane
Llangollen
Denbighshire
LL20 8HU



REGISTERED NUMBER: 06159518 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: Barclays Bank plc
Leicester
LE87 2BB

DAVIES BROTHERS CONSTRUCTION LIMITED (REGISTERED NUMBER: 06159518)

BALANCE SHEET
31ST OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,000 100,000
Tangible assets 5 36,066 25,734
Investment property 6 424,000 424,000
540,066 549,734

CURRENT ASSETS
Stocks 7 584,875 419,000
Debtors 8 206,758 171,431
Cash at bank 71,651 326,535
863,284 916,966
CREDITORS
Amounts falling due within one year 9 276,877 373,472
NET CURRENT ASSETS 586,407 543,494
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,126,473

1,093,228

PROVISIONS FOR LIABILITIES 10 37,093 34,510
NET ASSETS 1,089,380 1,058,718

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 1,089,377 1,058,715
SHAREHOLDERS' FUNDS 1,089,380 1,058,718

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

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

DAVIES BROTHERS CONSTRUCTION LIMITED (REGISTERED NUMBER: 06159518)

BALANCE SHEET - continued
31ST OCTOBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th August 2024 and were signed on its behalf by:





NM Davies - Director


DAVIES BROTHERS CONSTRUCTION LIMITED (REGISTERED NUMBER: 06159518)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023

1. STATUTORY INFORMATION

Davies Brothers Construction 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

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.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Statement of Income and Retained Earnings, 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.


DAVIES BROTHERS CONSTRUCTION LIMITED (REGISTERED NUMBER: 06159518)

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

2. ACCOUNTING POLICIES - continued
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 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2022
and 31st October 2023 400,000
AMORTISATION
At 1st November 2022 300,000
Amortisation for year 20,000
At 31st October 2023 320,000
NET BOOK VALUE
At 31st October 2023 80,000
At 31st October 2022 100,000

DAVIES BROTHERS CONSTRUCTION LIMITED (REGISTERED NUMBER: 06159518)

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

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st November 2022 76,742 81,100 12,497 170,339
Additions 19,000 - 522 19,522
Disposals (20,000 ) - - (20,000 )
At 31st October 2023 75,742 81,100 13,019 169,861
DEPRECIATION
At 1st November 2022 69,021 65,597 9,987 144,605
Charge for year 2,147 3,878 572 6,597
Eliminated on disposal (17,407 ) - - (17,407 )
At 31st October 2023 53,761 69,475 10,559 133,795
NET BOOK VALUE
At 31st October 2023 21,981 11,625 2,460 36,066
At 31st October 2022 7,721 15,503 2,510 25,734

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st November 2022
and 31st October 2023 424,000
NET BOOK VALUE
At 31st October 2023 424,000
At 31st October 2022 424,000

7. STOCKS
31.10.23 31.10.22
£    £   
Stocks 1,000 1,000
Work-in-progress 583,875 418,000
584,875 419,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 3,519 14,993
Other debtors 195,795 149,272
Prepayments 7,444 7,166
206,758 171,431

DAVIES BROTHERS CONSTRUCTION LIMITED (REGISTERED NUMBER: 06159518)

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

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 112,089 111,879
Tax 10,322 41,516
Social security and other taxes 32,091 55,544
Directors' current accounts 86,720 130,238
Accrued expenses 35,655 34,295
276,877 373,472

10. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax
Accelerated capital allowances 9,017 6,434
Other timing differences 28,076 28,076
37,093 34,510

Deferred
tax
£   
Balance at 1st November 2022 34,510
Movement in the year due to:-
Changes in tax rates
Changes in tax allowances 2,583
Fair value gains
Balance at 31st October 2023 37,093

11. CAPITAL COMMITMENTS
31.10.23 31.10.22
£    £   
Contracted but not provided for in the
financial statements - -