REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
Davis & Barrett Brickwork Contractors |
Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
Davis & Barrett Brickwork Contractors |
Limited |
Davis & Barrett Brickwork Contractors |
Limited (Registered number: 06075013) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Davis & Barrett Brickwork Contractors |
Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Stafford House |
Blackbrook Park Avenue |
Taunton |
Somerset |
TA1 2PX |
Davis & Barrett Brickwork Contractors |
Limited (Registered number: 06075013) |
Balance Sheet |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
Davis & Barrett Brickwork Contractors |
Limited (Registered number: 06075013) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Davis & Barrett Brickwork Contractors Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Davis & Barrett Brickwork Contractors |
Limited (Registered number: 06075013) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 February 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2023 |
Additions |
Disposals | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by participating interests | 5,502 | 4,840 |
Other debtors |
Davis & Barrett Brickwork Contractors |
Limited (Registered number: 06075013) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
5. | DEBTORS - continued |
2024 | 2023 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to participating interests | 31,011 | 3,082 |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Davis & Barrett Brickwork Contractors |
Limited (Registered number: 06075013) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
In October 2021, Mr T A Cutler was granted a loan through the company. The loan is repayable over four and a half years with the last repayment due in May 2026. Interest, at the rate of 1.9% per annum over base rate, is payable throughout the term of the loan. |
In January 2022, Mrs K Barrett, the wife of Mr W Barrett, was granted a loan through the company. The loan is repayable over 21 months with the last repayment due in August 2024. Interest, at the rate of 1.9% per annum over base rate, is payable throughout the term of the loan. |
In May 2022, Mr L Davis was granted a loan through the company. The loan was is repayable over 5 years with the last repayment in August 2026. Interest at the rate of 1.9% over base rate per annum, is payable throughout the term of the loan. |
In February 2023, Mr W Barrett was granted a loan through the company. The loan was is repayable over 5 years with the last repayment in January 2028. Interest at the rate of 1.9% over base rate per annum, is payable throughout the term of the loan. |
9. | RELATED PARTY DISCLOSURES |
Mr T Cutler and Ms TM Moore (until her resignation on 5 September 2024) own 75% of the issued share capital of C&M Holdings Group Limited, a company registered in England, which is the ultimate holding company of the group. As at 31 January 2024, £800,690 was due from C&M Holdings Group Limited. |
The company also recharged services totalling £93,247 (2023: £837,688) to Davis & Barrett Scaffolding Contractors Limited which were at arms length and under normal trade terms. As at 31 January 2024 trade debtors include an amount of £8,474 (2023: £11,108) due from Davis & Barrett Scaffolding. This company is wholly owned by Mr W Barrett and Mr L Davis, along with their wives. |
During the year, the company incurred costs totalling £918,469 (2023: £1,669,368) from Davis & Barrett Scaffolding Contractors Limited which were at arms length and under normal trading terms. At the year end, trade creditors include an amount of £163,939 (2023: £321,891). Other creditors also include an amount of £31,010 (2023: £3,082) due to Davis & Barrett Scaffolding Contractors Limited. |
Davis and Barrett Business Management Limited, a company registered in England, directly owns 100% of the issued share capital in this company. As at 31 January 2024, £6363,216 (2023:£1,757,660) was due from Davis and Barrett Business Management Limited. |
The company is also owed £5,502 (2023: £4,840) from Davis & Barrett Property Investment Ltd, which Mr W Barrett and Mr L Davis own 100% of the issued ordinary share capital. |
Except for the above, and the amounts owed by the directors disclosed elsewhere, there were no other related party transactions which require disclosing under FRS 102 Schedule 1A. |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Davis & Barrett Business Management Limited. |
The ultimate holding company is C&M Holdings Group Limited, a company ultimately controlled by Mr T Cutler and Ms T M Moore (until her resignation on 5 September 2024). |