Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30falseNo description of principal activitytrue2023-07-011111falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00734506 2023-07-01 2024-06-30 00734506 2022-07-01 2023-06-30 00734506 2024-06-30 00734506 2023-06-30 00734506 2022-07-01 00734506 1 2023-07-01 2024-06-30 00734506 d:CompanySecretary1 2023-07-01 2024-06-30 00734506 d:Director1 2023-07-01 2024-06-30 00734506 d:Director2 2023-07-01 2024-06-30 00734506 d:Director3 2023-07-01 2024-06-30 00734506 d:Director4 2023-07-01 2024-06-30 00734506 d:Director5 2023-07-01 2024-06-30 00734506 d:Director6 2023-07-01 2024-06-30 00734506 d:RegisteredOffice 2023-07-01 2024-06-30 00734506 e:PlantMachinery 2023-07-01 2024-06-30 00734506 e:PlantMachinery 2024-06-30 00734506 e:PlantMachinery 2023-06-30 00734506 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00734506 e:MotorVehicles 2023-07-01 2024-06-30 00734506 e:MotorVehicles 2024-06-30 00734506 e:MotorVehicles 2023-06-30 00734506 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00734506 e:FurnitureFittings 2023-07-01 2024-06-30 00734506 e:FurnitureFittings 2024-06-30 00734506 e:FurnitureFittings 2023-06-30 00734506 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00734506 e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00734506 e:CurrentFinancialInstruments 2024-06-30 00734506 e:CurrentFinancialInstruments 2023-06-30 00734506 e:CurrentFinancialInstruments e:WithinOneYear 2024-06-30 00734506 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 00734506 e:ShareCapital 2024-06-30 00734506 e:ShareCapital 2023-06-30 00734506 e:ShareCapital 2022-07-01 00734506 e:SharePremium 2024-06-30 00734506 e:SharePremium 1 2023-07-01 2024-06-30 00734506 e:SharePremium 2023-06-30 00734506 e:SharePremium 2022-07-01 00734506 e:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 00734506 e:RetainedEarningsAccumulatedLosses 2024-06-30 00734506 e:RetainedEarningsAccumulatedLosses 1 2023-07-01 2024-06-30 00734506 e:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 00734506 e:RetainedEarningsAccumulatedLosses 2023-06-30 00734506 e:RetainedEarningsAccumulatedLosses 2022-07-01 00734506 d:FRS102 2023-07-01 2024-06-30 00734506 d:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 00734506 d:FullAccounts 2023-07-01 2024-06-30 00734506 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00734506 2 2023-07-01 2024-06-30 00734506 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 00734506









G. O. DAVIES (WESTBURY) LTD







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
G. O. DAVIES (WESTBURY) LTD
 
 
COMPANY INFORMATION


Directors
J C Davies 
M A C Davies 
S H Davies 
D W L Roberts 
E W L Roberts 
O B L Roberts 




Company secretary
S H Davies



Registered number
00734506



Registered office
Harvest House
Westbury

Shrewsbury

Shropshire

SY5 9BY




Accountants
WR Partners
Chartered Accountants

Belmont House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG





 
G. O. DAVIES (WESTBURY) LTD
 

CONTENTS



Page
Directors' Report
1
Accountants' Report
2
Profit and Loss Account
3
Balance Sheet
4 - 5
Statement of Changes in Equity
6
Notes to the Financial Statements
7 - 11


 
G. O. DAVIES (WESTBURY) LTD
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors

The directors who served during the year were:

J C Davies 
M A C Davies 
S H Davies 
D W L Roberts 
E W L Roberts 
O B L Roberts 

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





J C Davies
Director

Date: 18 December 2024

Page 1

 
G. O. DAVIES (WESTBURY) LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF G. O. DAVIES (WESTBURY) LTD
FOR THE YEAR ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G. O. Davies (Westbury) Ltd for the year ended 30 June 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of G. O. Davies (Westbury) Ltd, as a body, in accordance with the terms of our engagement letter dated 14 June 2022Our work has been undertaken solely to prepare for your approval the financial statements of G. O. Davies (Westbury) Ltd and state those matters that we have agreed to state to the Board of Directors of G. O. Davies (Westbury) Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G. O. Davies (Westbury) Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that G. O. Davies (Westbury) Ltd 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 profit of G. O. Davies (Westbury) Ltd. You consider that G. O. Davies (Westbury) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of G. O. Davies (Westbury) Ltd. 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.

  



WR Partners
 
Chartered Accountants
  
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
2 January 2025
Page 2

 
G. O. DAVIES (WESTBURY) LTD
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
Note
£
£

  

Turnover
  
33,421,050
42,584,283

Cost of sales
  
(32,565,671)
(41,489,517)

Gross profit
  
855,379
1,094,766

Administrative expenses
  
(608,364)
(838,860)

Operating profit
  
247,015
255,906

Interest receivable and similar income
  
3,942
-

Interest payable and similar expenses
  
(61)
(125)

Profit before tax
  
250,896
255,781

Tax on profit
  
(18,142)
(78,976)

Profit for the financial year
  
232,754
176,805

The notes on pages 7 to 11 form part of these financial statements.

Page 3

 
G. O. DAVIES (WESTBURY) LTD
REGISTERED NUMBER: 00734506

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
71,013
39,049

  
71,013
39,049

Current assets
  

Stocks
  
60,351
38,385

Debtors: amounts falling due within one year
 5 
4,391,991
4,284,776

Cash at bank and in hand
 6 
124,614
137,898

  
4,576,956
4,461,059

Creditors: amounts falling due within one year
 7 
(3,730,833)
(3,665,724)

Net current assets
  
 
 
846,123
 
 
795,335

Total assets less current liabilities
  
917,136
834,384

  

Net assets
  
917,136
834,384


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Share premium account
  
1,123
1,125

Profit and loss account
  
906,013
823,259

  
917,136
834,384


Page 4

 
G. O. DAVIES (WESTBURY) LTD
REGISTERED NUMBER: 00734506
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J C Davies
Director

Date: 18 December 2024

The notes on pages 7 to 11 form part of these financial statements.

Page 5

 
G. O. DAVIES (WESTBURY) LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 July 2022
10,000
1,125
796,454
807,579



Profit for the year
-
-
176,805
176,805

Dividends: Equity capital
-
-
(150,000)
(150,000)



At 1 July 2023
10,000
1,125
823,259
834,384



Profit for the year
-
-
232,754
232,754

Share Premium Movement
-
(2)
-
(2)

Dividends: Equity capital
-
-
(150,000)
(150,000)


At 30 June 2024
10,000
1,123
906,013
917,136


The notes on pages 7 to 11 form part of these financial statements.

Page 6

 
G. O. DAVIES (WESTBURY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The principal activity of the Company is that of a grain merchant. The Company operates in the UK and is a private company limited by shares and is incorporated and domiciled in England. The address of its registered office and principal place of business is at Harvest House, Westbury, Shrewsbury, SY5 9BY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 7

 
G. O. DAVIES (WESTBURY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 8

 
G. O. DAVIES (WESTBURY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 11).

Page 9

 
G. O. DAVIES (WESTBURY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
31,666
81,957
5,538
119,161


Additions
1,100
61,751
-
62,851


Disposals
(1,495)
(55,723)
-
(57,218)



At 30 June 2024

31,271
87,985
5,538
124,794



Depreciation


At 1 July 2023
25,146
50,585
4,379
80,110


Charge for the year on owned assets
1,799
15,267
174
17,240


Disposals
(1,308)
(42,261)
-
(43,569)



At 30 June 2024

25,637
23,591
4,553
53,781



Net book value



At 30 June 2024
5,634
64,394
985
71,013



At 30 June 2023
6,519
31,371
1,158
39,048


5.


Debtors

2024
2023
£
£


Trade debtors
4,359,581
4,253,117

Other debtors
22,262
27,311

Prepayments and accrued income
10,148
4,348

4,391,991
4,284,776


Page 10

 
G. O. DAVIES (WESTBURY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
124,614
137,898

124,614
137,898



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,583,558
3,193,642

Other taxation and social security
25,380
87,924

Accruals and deferred income
121,895
384,158

3,730,833
3,665,724


Page 11