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REGISTERED NUMBER: 06817502 (England and Wales)












DHWD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

29 FEBRUARY 2024






DHWD LIMITED (REGISTERED NUMBER: 06817502)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

DHWD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: D H W Davies
W D W Davies
S H W Davies





REGISTERED OFFICE: C/O Bevan Buckland LLP
Ground Floor
Cardigan House
Swansea
SA7 9LA





REGISTERED NUMBER: 06817502 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

DHWD LIMITED (REGISTERED NUMBER: 06817502)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 190,043 152,316
Investments 5 - -
190,043 152,316

CURRENT ASSETS
Stocks 2,110,123 1,540,809
Debtors 6 78,233 336,752
Cash at bank and in hand 91,956 32,475
2,280,312 1,910,036
CREDITORS
Amounts falling due within one year 7 968,267 538,570
NET CURRENT ASSETS 1,312,045 1,371,466
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,502,088

1,523,782

CREDITORS
Amounts falling due after more than one year 8 - (1,405 )

PROVISIONS FOR LIABILITIES (47,511 ) (33,510 )
NET ASSETS 1,454,577 1,488,867

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,454,277 1,488,567
SHAREHOLDERS' FUNDS 1,454,577 1,488,867

DHWD LIMITED (REGISTERED NUMBER: 06817502)

BALANCE SHEET - continued
29 FEBRUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





D H W Davies - Director


DHWD LIMITED (REGISTERED NUMBER: 06817502)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

DHWD 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about DHWD Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and Machinery - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks
Stocks are valued at the lower of cost and net relatable value.
Included in stocks is work in progress. Work in progress comprises land under development, direct materials, labour costs, site overheads, associated professional charges and other attributable overheads.

Net realisable value represents the estimated selling prices less all estimated costs of completion and overheads.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


DHWD LIMITED (REGISTERED NUMBER: 06817502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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.

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.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 9 ) .

DHWD LIMITED (REGISTERED NUMBER: 06817502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
Machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023 235,093 5,050 17,495 257,638
Additions - - 71,990 71,990
At 29 February 2024 235,093 5,050 89,485 329,628
DEPRECIATION
At 1 March 2023 85,242 5,050 15,030 105,322
Charge for year 20,149 - 14,114 34,263
At 29 February 2024 105,391 5,050 29,144 139,585
NET BOOK VALUE
At 29 February 2024 129,702 - 60,341 190,043
At 28 February 2023 149,851 - 2,465 152,316

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
Machinery
£   
COST
At 1 March 2023
and 29 February 2024 84,450
DEPRECIATION
At 1 March 2023 23,467
Charge for year 8,445
At 29 February 2024 31,912
NET BOOK VALUE
At 29 February 2024 52,538
At 28 February 2023 60,983

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 10,000
PROVISIONS
At 1 March 2023
and 29 February 2024 10,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

DHWD LIMITED (REGISTERED NUMBER: 06817502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 78,233 336,752

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 1,405 13,290
Trade creditors 273,519 139,232
Amounts owed to associates 182,189 22,968
Taxation and social security 127,864 144,794
Other creditors 383,290 218,286
968,267 538,570

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 1,405

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,405 14,695

Hire purchase liabilities are secured by the assets to which the agreement relates, and are included within tangible fixed assets.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
D H W Davies
Balance outstanding at start of year 281,742 (689,278 )
Amounts advanced 399,041 2,300,630
Amounts repaid (840,720 ) (1,329,610 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (159,937 ) 281,742

The maximum outstanding in the year was £672,695. All amounts were unsecured, interest free and repayable within nine months.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DHWD LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DHWD Limited for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of DHWD Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of DHWD Limited and state those matters that we have agreed to state to the Board of Directors of DHWD Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DHWD Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that DHWD Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of DHWD Limited. You consider that DHWD Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of DHWD Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


29 November 2024