IRIS Accounts Production v24.3.0.553 00207032 director 1.11.21 30.4.23 30.4.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh002070322021-10-31002070322023-04-30002070322021-11-012023-04-30002070322020-10-31002070322020-11-012021-10-31002070322021-10-3100207032ns15:EnglandWales2021-11-012023-04-3000207032ns14:PoundSterling2021-11-012023-04-3000207032ns10:Director12021-11-012023-04-3000207032ns10:PrivateLimitedCompanyLtd2021-11-012023-04-3000207032ns10:SmallEntities2021-11-012023-04-3000207032ns10:AuditExempt-NoAccountantsReport2021-11-012023-04-3000207032ns10:SmallCompaniesRegimeForDirectorsReport2021-11-012023-04-3000207032ns10:SmallCompaniesRegimeForAccounts2021-11-012023-04-3000207032ns10:FullAccounts2021-11-012023-04-3000207032ns5:CurrentFinancialInstruments2023-04-3000207032ns5:CurrentFinancialInstruments2021-10-3100207032ns5:Non-currentFinancialInstruments2023-04-3000207032ns5:Non-currentFinancialInstruments2021-10-3100207032ns5:ShareCapital2023-04-3000207032ns5:ShareCapital2021-10-3100207032ns5:FurtherSpecificReserve2ComponentTotalEquity2023-04-3000207032ns5:FurtherSpecificReserve2ComponentTotalEquity2021-10-3100207032ns5:RetainedEarningsAccumulatedLosses2023-04-3000207032ns5:RetainedEarningsAccumulatedLosses2021-10-3100207032ns10:RegisteredOffice2021-11-012023-04-3000207032ns5:ShortLeaseholdAssetsns5:LandBuildings2021-10-3100207032ns5:PlantMachinery2021-10-3100207032ns5:FurnitureFittings2021-10-3100207032ns5:ShortLeaseholdAssetsns5:LandBuildings2021-11-012023-04-3000207032ns5:PlantMachinery2021-11-012023-04-3000207032ns5:FurnitureFittings2021-11-012023-04-3000207032ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-3000207032ns5:PlantMachinery2023-04-3000207032ns5:FurnitureFittings2023-04-3000207032ns5:ShortLeaseholdAssetsns5:LandBuildings2021-10-3100207032ns5:PlantMachinery2021-10-3100207032ns5:FurnitureFittings2021-10-3100207032ns5:MotorVehicles2021-10-3100207032ns5:ComputerEquipment2021-10-3100207032ns5:MotorVehicles2021-11-012023-04-3000207032ns5:ComputerEquipment2021-11-012023-04-3000207032ns5:MotorVehicles2023-04-3000207032ns5:ComputerEquipment2023-04-3000207032ns5:MotorVehicles2021-10-3100207032ns5:ComputerEquipment2021-10-3100207032ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2021-10-3100207032ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2021-11-012023-04-3000207032ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-3000207032ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2021-10-3100207032ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3000207032ns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-10-3100207032ns5:AcceleratedTaxDepreciationDeferredTax2023-04-3000207032ns5:AcceleratedTaxDepreciationDeferredTax2021-10-3100207032ns5:DeferredTaxation2021-10-3100207032ns5:DeferredTaxation2021-11-012023-04-3000207032ns5:DeferredTaxation2023-04-30
REGISTERED NUMBER: 00207032 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2021 TO 30 APRIL 2023

FOR

DAVIS CASH & COMPANY LIMITED

DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2021 TO 30 APRIL 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,427 175,952

CURRENT ASSETS
Inventories 30,101 8,105
Debtors 5 157,908 190,494
Cash at bank and in hand 50,263 9,758
238,272 208,357
CREDITORS
Amounts falling due within one year 6 381,959 75,104
NET CURRENT (LIABILITIES)/ASSETS (143,687 ) 133,253
TOTAL ASSETS LESS CURRENT
LIABILITIES

(140,260

)

309,205

CREDITORS
Amounts falling due after more than one year 7 (25,000 ) (40,000 )

PROVISIONS FOR LIABILITIES 8 - (26,300 )
NET (LIABILITIES)/ASSETS (165,260 ) 242,905

CAPITAL AND RESERVES
Called up share capital 11,954 11,954
Other reserves 22,753 22,753
Retained earnings (199,967 ) 208,198
(165,260 ) 242,905

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 director and authorised for issue on 25 July 2024 and were signed by:





Mr G A Kourtellaris - Director


DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2021 TO 30 APRIL 2023

1. STATUTORY INFORMATION

Davis Cash & Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00207032

Registered office: Metalcraft Works
Alexandra Road
Ponders End
Middlesex
EN3 7EN

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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when goods are delivered to the customer, such that the risks and rewards of ownership have passed to them.

Revenue is adjusted for work in progress at the year end, based on the % completion of the job plus a standard profit margin.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful lives

Short leasehold - Over the life of the lease
Plant and machinery - 12.5% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 10% on reducing balance
Computer equipment - 10% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2021 TO 30 APRIL 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2021 - 10 ) .

DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2021 TO 30 APRIL 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 November 2021 28,004 750,502 33,211
Disposals - (750,502 ) (33,211 )
At 30 April 2023 28,004 - -
DEPRECIATION
At 1 November 2021 22,653 592,052 31,659
Charge for period 1,924 29,708 465
Eliminated on disposal - (621,760 ) (32,124 )
At 30 April 2023 24,577 - -
NET BOOK VALUE
At 30 April 2023 3,427 - -
At 31 October 2021 5,351 158,450 1,552

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2021 14,400 32,744 858,861
Disposals (14,400 ) (32,744 ) (830,857 )
At 30 April 2023 - - 28,004
DEPRECIATION
At 1 November 2021 9,461 27,084 682,909
Charge for period 741 849 33,687
Eliminated on disposal (10,202 ) (27,933 ) (692,019 )
At 30 April 2023 - - 24,577
NET BOOK VALUE
At 30 April 2023 - - 3,427
At 31 October 2021 4,939 5,660 175,952

DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2021 TO 30 APRIL 2023

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2021 104,000
Disposals (104,000 )
At 30 April 2023 -
DEPRECIATION
At 1 November 2021 62,880
Charge for period 5,140
Eliminated on disposal (68,020 )
At 30 April 2023 -
NET BOOK VALUE
At 30 April 2023 -
At 31 October 2021 41,120

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors 144,949 133,490
Other debtors 12,959 57,004
157,908 190,494

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 70,748 33,521
Taxation and social security 154,555 23,663
Other creditors 146,656 7,920
381,959 75,104

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2021
£    £   
Bank loans 25,000 40,000

8. PROVISIONS FOR LIABILITIES
2023 2021
£    £   
Deferred tax
Accelerated capital allowances 26,300 26,300
Other timing differences (26,300 ) -
- 26,300

DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2021 TO 30 APRIL 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2021 26,300
Credit to Income Statement during period (26,300 )
Balance at 30 April 2023 -

9. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £Nil (2021: £47,100) due from a connected company with common shareholding.The loan was recoverable on demand.

Included in other creditors is an amount of £132,573 (2021: £Nil) due to a connected company with common shareholding. The interest of £23,430 has been charged for the loan during the period. The loan is repayable on demand.

Also, included in other creditors is an amount of £628 (2021: £628) payable to the director of the company. The loan remains interest free and repayable on demand.