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REGISTERED NUMBER: 03713056 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 July 2024

for

Davard Care Homes Limited

Davard Care Homes Limited (Registered number: 03713056)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Davard Care Homes Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr D Farndon





SECRETARY: Mr D Farndon





REGISTERED OFFICE: Swift House, Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU





REGISTERED NUMBER: 03713056 (England and Wales)





ACCOUNTANTS: LB Group Advisory Limited
Swift House, Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU

Davard Care Homes Limited (Registered number: 03713056)

Balance Sheet
31 July 2024

31.7.23 31.7.24
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 4 -
2,183,083 Tangible assets 5 2,143,545
281,913 Investments 6 379,619
2,464,996 2,523,164

CURRENT ASSETS
147,131 Debtors 7 5,255
1,122,911 Cash at bank and in hand 1,775,650
1,270,042 1,780,905
CREDITORS
190,648 Amounts falling due within one year 8 471,969
1,079,394 NET CURRENT ASSETS 1,308,936
3,544,390 TOTAL ASSETS LESS CURRENT
LIABILITIES

3,832,100

93,290 PROVISIONS FOR LIABILITIES 92,366
3,451,100 NET ASSETS 3,739,734

CAPITAL AND RESERVES
100 Called up share capital 9 100
176,892 Fair value reserve 10 110,095
3,274,108 Retained earnings 3,629,539
3,451,100 SHAREHOLDERS' FUNDS 3,739,734

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

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

Davard Care Homes Limited (Registered number: 03713056)

Balance Sheet - continued
31 July 2024


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 6 January 2025 and were signed by:





Mr D Farndon - Director


Davard Care Homes Limited (Registered number: 03713056)

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

1. STATUTORY INFORMATION

Davard Care Homes 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of ten 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.
Land and buildings - 1% on cost
Plant and machinery etc - 33% on cost and 15% on reducing balance

Listed investments are shown at fair value at the balance sheet date.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

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.


Davard Care Homes Limited (Registered number: 03713056)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 100,000
AMORTISATION
At 1 August 2023
and 31 July 2024 100,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

Davard Care Homes Limited (Registered number: 03713056)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
Totals buildings etc
£    £    £   
COST
At 1 August 2023 2,882,387 2,523,647 358,740
Additions 19,578 14,605 4,973
At 31 July 2024 2,901,965 2,538,252 363,713
DEPRECIATION
At 1 August 2023 699,304 428,862 270,442
Charge for year 59,116 44,648 14,468
At 31 July 2024 758,420 473,510 284,910
NET BOOK VALUE
At 31 July 2024 2,143,545 2,064,742 78,803
At 31 July 2023 2,183,083 2,094,785 88,298

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 August 2023 281,913
Additions 94,547
Revaluations 3,159
At 31 July 2024 379,619
NET BOOK VALUE
At 31 July 2024 379,619
At 31 July 2023 281,913

Cost or valuation at 31 July 2024 is represented by:

Listed
investments
£   
Valuation in 2023 141,513
Valuation in 2024 3,159
Cost 234,947
379,619

Davard Care Homes Limited (Registered number: 03713056)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors (725 ) 1,760
Other debtors 5,980 145,371
5,255 147,131

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts - 7
Payments on account 67,751 55,339
Trade creditors 8,040 16,274
Taxation and social security 164,570 71,690
Other creditors 231,608 47,338
471,969 190,648

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1 August 2023 176,892
Transfer of fair value, net
of deferred tax (66,797 )

At 31 July 2024 110,095

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
Mr D Farndon
Balance outstanding at start of year 140,000 -
Amounts advanced - 140,000
Amounts repaid (140,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 140,000

Davard Care Homes Limited (Registered number: 03713056)

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

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

The loan was repaid on 3 April 2024.

An interest rate of 2.25% is applied.