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REGISTERED NUMBER: 07444600 (England and Wales)















DANIEL DAVIES & SONS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






DANIEL DAVIES & SONS LIMITED (REGISTERED NUMBER: 07444600)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DANIEL DAVIES & SONS LIMITED

COMPANY INFORMATION
for the Year Ended 30 NOVEMBER 2023







DIRECTORS: R J Davies
J E Davies





SECRETARY: D R Davies





REGISTERED OFFICE: Maesycoed
Beulah
Newcastle Emlyn
Ceredigion
SA38 9QE





REGISTERED NUMBER: 07444600 (England and Wales)





ACCOUNTANTS: D M B Davies Limited
Broyan House
Priory Street
Cardigan
Ceredigion
SA43 1BZ

DANIEL DAVIES & SONS LIMITED (REGISTERED NUMBER: 07444600)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 53,671 46,655
53,671 46,655

CURRENT ASSETS
Stocks 152,750 158,750
Debtors 6 550,809 550,373
Investments 7 560,544 552,454
Cash at bank and in hand 459,397 300,146
1,723,500 1,561,723
CREDITORS
Amounts falling due within one year 8 113,232 115,423
NET CURRENT ASSETS 1,610,268 1,446,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,663,939

1,492,955

PROVISIONS FOR LIABILITIES 7,821 8,108
NET ASSETS 1,656,118 1,484,847

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 102,591 102,591
Retained earnings 1,553,427 1,382,156
SHAREHOLDERS' FUNDS 1,656,118 1,484,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

DANIEL DAVIES & SONS LIMITED (REGISTERED NUMBER: 07444600)

BALANCE SHEET - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:





R J Davies - Director


DANIEL DAVIES & SONS LIMITED (REGISTERED NUMBER: 07444600)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Daniel Davies & Sons 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of nil 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 etc - 15% on reducing balance

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.


DANIEL DAVIES & SONS LIMITED (REGISTERED NUMBER: 07444600)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 NOVEMBER 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 80,000
AMORTISATION
At 1 December 2022
and 30 November 2023 80,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

DANIEL DAVIES & SONS LIMITED (REGISTERED NUMBER: 07444600)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 NOVEMBER 2023


5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 114,955 20,229 135,184
Additions - 20,203 20,203
At 30 November 2023 114,955 40,432 155,387
DEPRECIATION
At 1 December 2022 79,679 8,850 88,529
Charge for year 5,291 7,896 13,187
At 30 November 2023 84,970 16,746 101,716
NET BOOK VALUE
At 30 November 2023 29,985 23,686 53,671
At 30 November 2022 35,276 11,379 46,655

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 500,000 525,000
Other debtors 50,809 25,373
550,809 550,373

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 560,544 552,454

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 60,002 64,136
Taxation and social security 49,730 47,787
Other creditors 3,500 3,500
113,232 115,423

DANIEL DAVIES & SONS LIMITED (REGISTERED NUMBER: 07444600)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 NOVEMBER 2023


9. RESERVES
Fair
value
reserve
£   
At 1 December 2022
and 30 November 2023 102,591

10. RELATED PARTY DISCLOSURES

According to the directors, there were no other material related party transactions during the period.

11. ULTIMATE CONTROLLING PARTY



Ultimate control of the company is exercised by Mr J E Davies and Mr R J Davies, the directors of the company, and by Mr D R Davies, the Company Secretary.