2023-02-012024-01-312024-01-31false00439774David Summerfield Limited2024-10-3147770iso4217:GBPxbrli:pure004397742023-02-01004397742024-01-31004397742023-02-012024-01-31004397742022-02-01004397742023-01-31004397742022-02-012023-01-3100439774bus:SmallEntities2023-02-012024-01-3100439774bus:AuditExempt-NoAccountantsReport2023-02-012024-01-3100439774bus:FullAccounts2023-02-012024-01-3100439774bus:PrivateLimitedCompanyLtd2023-02-012024-01-3100439774core:WithinOneYear2024-01-3100439774core:AfterOneYear2024-01-3100439774core:WithinOneYear2023-01-3100439774core:AfterOneYear2023-01-3100439774core:ShareCapital2024-01-3100439774core:SharePremium2024-01-3100439774core:RevaluationReserve2024-01-3100439774core:OtherReservesSubtotal2024-01-3100439774core:RetainedEarningsAccumulatedLosses2024-01-3100439774core:ShareCapital2023-01-3100439774core:SharePremium2023-01-3100439774core:RevaluationReserve2023-01-3100439774core:OtherReservesSubtotal2023-01-3100439774core:RetainedEarningsAccumulatedLosses2023-01-3100439774core:LandBuildings2024-01-3100439774core:PlantMachinery2024-01-3100439774core:Vehicles2024-01-3100439774core:FurnitureFittings2024-01-3100439774core:OfficeEquipment2024-01-3100439774core:NetGoodwill2024-01-3100439774core:IntangibleAssetsOtherThanGoodwill2024-01-3100439774core:ListedExchangeTraded2024-01-3100439774core:UnlistedNon-exchangeTraded2024-01-3100439774core:LandBuildings2023-01-3100439774core:PlantMachinery2023-01-3100439774core:Vehicles2023-01-3100439774core:FurnitureFittings2023-01-3100439774core:OfficeEquipment2023-01-3100439774core:NetGoodwill2023-01-3100439774core:IntangibleAssetsOtherThanGoodwill2023-01-3100439774core:ListedExchangeTraded2023-01-3100439774core:UnlistedNon-exchangeTraded2023-01-3100439774core:LandBuildings2023-02-012024-01-3100439774core:PlantMachinery2023-02-012024-01-3100439774core:Vehicles2023-02-012024-01-3100439774core:FurnitureFittings2023-02-012024-01-3100439774core:OfficeEquipment2023-02-012024-01-3100439774core:NetGoodwill2023-02-012024-01-3100439774core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3100439774core:ListedExchangeTraded2023-02-012024-01-3100439774core:UnlistedNon-exchangeTraded2023-02-012024-01-3100439774core:MoreThanFiveYears2023-02-012024-01-3100439774core:Non-currentFinancialInstruments2024-01-3100439774core:Non-currentFinancialInstruments2023-01-3100439774dpl:CostSales2023-02-012024-01-3100439774dpl:DistributionCosts2023-02-012024-01-3100439774core:LandBuildings2023-02-012024-01-3100439774core:PlantMachinery2023-02-012024-01-3100439774core:Vehicles2023-02-012024-01-3100439774core:FurnitureFittings2023-02-012024-01-3100439774core:OfficeEquipment2023-02-012024-01-3100439774dpl:AdministrativeExpenses2023-02-012024-01-3100439774core:NetGoodwill2023-02-012024-01-3100439774core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3100439774dpl:GroupUndertakings2023-02-012024-01-3100439774dpl:ParticipatingInterests2023-02-012024-01-3100439774dpl:GroupUndertakingscore:ListedExchangeTraded2023-02-012024-01-3100439774core:ListedExchangeTraded2023-02-012024-01-3100439774dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-02-012024-01-3100439774core:UnlistedNon-exchangeTraded2023-02-012024-01-3100439774dpl:CostSales2022-02-012023-01-3100439774dpl:DistributionCosts2022-02-012023-01-3100439774core:LandBuildings2022-02-012023-01-3100439774core:PlantMachinery2022-02-012023-01-3100439774core:Vehicles2022-02-012023-01-3100439774core:FurnitureFittings2022-02-012023-01-3100439774core:OfficeEquipment2022-02-012023-01-3100439774dpl:AdministrativeExpenses2022-02-012023-01-3100439774core:NetGoodwill2022-02-012023-01-3100439774core:IntangibleAssetsOtherThanGoodwill2022-02-012023-01-3100439774dpl:GroupUndertakings2022-02-012023-01-3100439774dpl:ParticipatingInterests2022-02-012023-01-3100439774dpl:GroupUndertakingscore:ListedExchangeTraded2022-02-012023-01-3100439774core:ListedExchangeTraded2022-02-012023-01-3100439774dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-02-012023-01-3100439774core:UnlistedNon-exchangeTraded2022-02-012023-01-3100439774core:NetGoodwill2024-01-3100439774core:IntangibleAssetsOtherThanGoodwill2024-01-3100439774core:LandBuildings2024-01-3100439774core:PlantMachinery2024-01-3100439774core:Vehicles2024-01-3100439774core:FurnitureFittings2024-01-3100439774core:OfficeEquipment2024-01-3100439774core:AfterOneYear2024-01-3100439774core:WithinOneYear2024-01-3100439774core:ListedExchangeTraded2024-01-3100439774core:UnlistedNon-exchangeTraded2024-01-3100439774core:ShareCapital2024-01-3100439774core:SharePremium2024-01-3100439774core:RevaluationReserve2024-01-3100439774core:OtherReservesSubtotal2024-01-3100439774core:RetainedEarningsAccumulatedLosses2024-01-3100439774core:NetGoodwill2023-01-3100439774core:IntangibleAssetsOtherThanGoodwill2023-01-3100439774core:LandBuildings2023-01-3100439774core:PlantMachinery2023-01-3100439774core:Vehicles2023-01-3100439774core:FurnitureFittings2023-01-3100439774core:OfficeEquipment2023-01-3100439774core:AfterOneYear2023-01-3100439774core:WithinOneYear2023-01-3100439774core:Liste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David Summerfield Limited

Registered Number
00439774
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

David Summerfield Limited
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

SMITH, Raymond

Registered Address

70 Parklands
Ponteland
Newcastle Upon Tyne
NE20 9LN

Registered Number

00439774 (England and Wales)
David Summerfield Limited
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3345,251278,409
Investments44,8004,800
350,051283,209
Current assets
Stocks53,694,0153,263,761
Debtors699,124235,937
Cash at bank and on hand937,6351,398,174
4,730,7744,897,872
Creditors amounts falling due within one year7(405,948)(336,589)
Net current assets (liabilities)4,324,8264,561,283
Total assets less current liabilities4,674,8774,844,492
Provisions for liabilities8(25,420)(9,748)
Net assets4,649,4574,834,744
Capital and reserves
Called up share capital30,09630,096
Share premium2,4402,440
Other reserves1,1241,124
Profit and loss account4,615,7974,801,084
Shareholders' funds4,649,4574,834,744
The financial statements were approved and authorised for issue by the Director on 31 October 2024, and are signed on its behalf by:
SMITH, Raymond
Director
Registered Company No. 00439774
David Summerfield Limited
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Short Leasehold Property - Over the term of the lease Fixtures and Fittings - 10% Reducing balance and 20% Straight line or over the term of the lease. Office Equipment - 25% Reducing balance
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Finance leases and hire purchase contracts
Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1716
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 February 23353,923190,461100,521644,905
Additions51,0078,88828,10387,998
Disposals(5,452)(16,282)-(21,734)
At 31 January 24399,478183,067128,624711,169
Depreciation and impairment
At 01 February 23109,814181,80774,875366,496
Charge for year1,8982,74513,50218,145
On disposals(5,452)(13,271)-(18,723)
At 31 January 24106,260171,28188,377365,918
Net book value
At 31 January 24293,21811,78640,247345,251
At 31 January 23244,1098,65425,646278,409
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 February 234,8004,800
At 31 January 244,8004,800
Net book value
At 31 January 244,8004,800
At 31 January 234,8004,800

Notes

1Other investments other than loans
5.Stocks

2024

2023

££
Finished goods3,694,0153,263,761
Total3,694,0153,263,761
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,6993,838
Other debtors45,261134,371
Prepayments and accrued income51,16497,728
Total99,124235,937
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables337,243194,704
Taxation and social security50,940126,001
Other creditors1,4471,870
Accrued liabilities and deferred income16,31814,014
Total405,948336,589
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)25,4209,748
Total25,4209,748
9.Other commitments
At 31 January 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £372,917 (2023 – £6,250).
10.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
SMITH, Raymond49,63310,30552,7517,187
49,63310,30552,7517,187
The loan was interest free and repayable on demand. The loan was repaid on 6 April 2024.