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REGISTERED NUMBER: 00361893 (England and Wales)















Davidsons (Manchester) Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Davidsons (Manchester) Limited (Registered number: 00361893)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Davidsons (Manchester) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr E M Davidson





REGISTERED OFFICE: 71-73 Hoghton Street
Southport
Merseyside
PR9 0PR





REGISTERED NUMBER: 00361893 (England and Wales)





ACCOUNTANTS: Advance Chartered Certified Accountants
71-73 Hoghton Street
Southport
Merseyside
PR9 0PR

Davidsons (Manchester) Limited (Registered number: 00361893)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 759 892
Investment property 5 2,029,857 2,046,000
2,030,616 2,046,892

CURRENT ASSETS
Debtors 53,119 11,674
Cash at bank and in hand 9,865 94,078
62,984 105,752
CREDITORS
Amounts falling due within one year 43,893 112,151
NET CURRENT ASSETS/(LIABILITIES) 19,091 (6,399 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,049,707

2,040,493

CREDITORS
Amounts falling due after more than one
year

(400,000

)

(400,000

)

PROVISIONS FOR LIABILITIES (228,365 ) (228,398 )
NET ASSETS 1,421,342 1,412,095

CAPITAL AND RESERVES
Called up share capital 3,150 3,150
Capital redemption reserve 450 450
Fair value reserve 1,028,332 1,038,725
Retained earnings 389,410 369,770
SHAREHOLDERS' FUNDS 1,421,342 1,412,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Davidsons (Manchester) Limited (Registered number: 00361893)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 October 2024 and were signed by:





Mr E M Davidson - Director


Davidsons (Manchester) Limited (Registered number: 00361893)

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

1. STATUTORY INFORMATION

Davidsons (Manchester) 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), as adapted by Section 1A of FRS 102, and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rent provided in the normal course of business and is shown net of VAT. Rental income is recognised equally over the course of the relevant lease agreement.

Tangible fixed assets
All fixed assets are initially recorded at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is calculated so as to write off the cost of an assets, less their residual values, over their useful lives on the following bases.

Fixtures & fittings - 15% reducing balance
Plant & machinery - 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, and deposits held at call with banks.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Davidsons (Manchester) Limited (Registered number: 00361893)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


Davidsons (Manchester) Limited (Registered number: 00361893)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 23,127
DEPRECIATION
At 1 April 2023 22,235
Charge for year 133
At 31 March 2024 22,368
NET BOOK VALUE
At 31 March 2024 759
At 31 March 2023 892

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,046,000
Additions 13,857
Disposals (30,000 )
At 31 March 2024 2,029,857
NET BOOK VALUE
At 31 March 2024 2,029,857
At 31 March 2023 2,046,000

Davidsons (Manchester) Limited (Registered number: 00361893)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 1,805,000
Valuation in 2023 241,000
Valuation in 2024 (16,143 )
2,029,857

6. SECURED DEBTS

Creditors falling due over one year totalling £400,000 (2022: £400,000) are secured over the assets to which they relate.