Arthur E Davey & Sons Limited 08811236 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is funeral directors. Digita Accounts Production Advanced 6.30.9574.0 true true 08811236 2023-04-01 2024-03-31 08811236 2024-03-31 08811236 core:CurrentFinancialInstruments 2024-03-31 08811236 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08811236 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08811236 core:BetweenTwoFiveYears 2024-03-31 08811236 core:MoreThanFiveYears 2024-03-31 08811236 core:WithinOneYear 2024-03-31 08811236 1 2024-03-31 08811236 bus:SmallEntities 2023-04-01 2024-03-31 08811236 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08811236 bus:FilletedAccounts 2023-04-01 2024-03-31 08811236 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08811236 bus:RegisteredOffice 2023-04-01 2024-03-31 08811236 bus:Director1 2023-04-01 2024-03-31 08811236 bus:Director2 2023-04-01 2024-03-31 08811236 bus:Director3 2023-04-01 2024-03-31 08811236 bus:Director4 2023-04-01 2024-03-31 08811236 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08811236 1 2023-04-01 2024-03-31 08811236 core:ComputerSoftware 2023-04-01 2024-03-31 08811236 core:Goodwill 2023-04-01 2024-03-31 08811236 core:FurnitureFittings 2023-04-01 2024-03-31 08811236 core:LandBuildings 2023-04-01 2024-03-31 08811236 core:MotorVehicles 2023-04-01 2024-03-31 08811236 core:PlantMachinery 2023-04-01 2024-03-31 08811236 countries:EnglandWales 2023-04-01 2024-03-31 08811236 1 2023-04-01 2024-03-31 08811236 2023-03-31 08811236 1 2023-03-31 08811236 2022-04-01 2023-03-31 08811236 2023-03-31 08811236 core:CurrentFinancialInstruments 2023-03-31 08811236 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08811236 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08811236 core:BetweenTwoFiveYears 2023-03-31 08811236 core:MoreThanFiveYears 2023-03-31 08811236 core:WithinOneYear 2023-03-31 08811236 1 2023-03-31 08811236 1 2022-04-01 2023-03-31 08811236 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 08811236

Arthur E Davey & Sons Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Arthur E Davey & Sons Limited

Contents

Company Information

1

Abridged Statement of Financial Position

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Arthur E Davey & Sons Limited

Company Information

Directors

A R Davey

V J Johnston

N L Davey

T Davey

Registered office

Highdale
82 Silver Street
Nailsea
Bristol
BS48 2DS

Accountants

Westcotts
Chartered Accountants
Tallford House
38 Walliscote Road
Weston-super-Mare
Somerset
BS23 1LP

 

Arthur E Davey & Sons Limited

(Registration number: 08811236)
Abridged Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

4,041

59,551

Tangible assets

5

229,829

277,690

 

233,870

337,241

Current assets

 

Stocks

14,699

13,109

Debtors

146,038

192,166

Cash at bank and in hand

 

110,846

166,231

 

271,583

371,506

Prepayments and accrued income

 

22,871

3,310

Creditors: Amounts falling due within one year

(64,239)

(112,883)

Net current assets

 

230,215

261,933

Total assets less current liabilities

 

464,085

599,174

Creditors: Amounts falling due after more than one year

(18,853)

(13,741)

Provisions for liabilities

(9,220)

(11,682)

Accruals and deferred income

 

(7,973)

(6,181)

Net assets

 

428,039

567,570

Capital and reserves

 

Called up share capital

100,000

100,000

Profit and loss account

328,039

467,570

Shareholders' funds

 

428,039

567,570

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Arthur E Davey & Sons Limited

(Registration number: 08811236)
Abridged Statement of Financial Position as at 31 March 2024 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 17 October 2024 and signed on its behalf by:
 

.........................................
A R Davey
Director

.........................................
V J Johnston
Director

.........................................
N L Davey
Director

.........................................
T Davey
Director

 

Arthur E Davey & Sons Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Highdale
82 Silver Street
Nailsea
Bristol
BS48 2DS

These financial statements were authorised for issue by the Board on 17 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Arthur E Davey & Sons Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Arthur E Davey & Sons Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Lease Property Improvements

Over term of lease

Plant and Machinery

20% straight line

Fixtures and fittings

33% straight line

Motor Vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Website

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Arthur E Davey & Sons Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

 

 

Arthur E Davey & Sons Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2023 - 27).

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2023

555,689

Additions internally developed

785

At 31 March 2024

556,474

Amortisation

At 1 April 2023

496,138

Amortisation charge

56,295

At 31 March 2024

552,433

Carrying amount

At 31 March 2024

4,041

At 31 March 2023

59,551

5

Tangible assets

Total
£

Cost or valuation

At 1 April 2023

820,489

Additions

7,766

At 31 March 2024

828,255

Depreciation

At 1 April 2023

542,799

Charge for the year

55,627

At 31 March 2024

598,426

Carrying amount

At 31 March 2024

229,829

At 31 March 2023

277,690

 

Arthur E Davey & Sons Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024 (continued)

6

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

7

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

20,000

-

Later than one year and not later than five years

80,000

-

Later than five years

80,000

-

180,000

-

8

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Directors' loan

(61,967)

45,633

(25,034)

(41,368)

Directors' loan

(1,000)

15,500

(4,000)

10,500

Directors' loan

9,808

12,067

(26,000)

(4,125)

Directors' loan

9,292

26,745

(16,656)

19,381

(43,867)

99,945

(71,690)

(15,612)

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Directors' loan

(71,730)

46,763

(38,000)

(62,967)

Directors' loan

8,633

33,843

(23,376)

19,100

(63,097)

80,606

(61,376)

(43,867)

 

No interest has been charged on the above loans