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REGISTERED NUMBER: 09395962 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024

FOR

PETER DAVIES & SONS LIMITED

PETER DAVIES & SONS LIMITED (REGISTERED NUMBER: 09395962)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETER DAVIES & SONS LIMITED

COMPANY INFORMATION
for the Year Ended 31st July 2024







DIRECTORS: Mr P J Davies
Mrs L Hall
Mr S Hall





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 09395962 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

PETER DAVIES & SONS LIMITED (REGISTERED NUMBER: 09395962)

BALANCE SHEET
31st July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 53,483 55,727
Investments 5 105,500 -
Investment property 6 726,000 -
884,983 55,727

CURRENT ASSETS
Stocks 34,900 36,750
Debtors 7 262,470 759,486
Cash at bank 375,543 541,575
672,913 1,337,811
CREDITORS
Amounts falling due within one year 8 (135,226 ) (116,510 )
NET CURRENT ASSETS 537,687 1,221,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,422,670

1,277,028

PROVISIONS FOR LIABILITIES (10,162 ) (10,588 )
NET ASSETS 1,412,508 1,266,440

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,412,408 1,266,340
SHAREHOLDERS' FUNDS 1,412,508 1,266,440

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

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

PETER DAVIES & SONS LIMITED (REGISTERED NUMBER: 09395962)

BALANCE SHEET - continued
31st 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th January 2025 and were signed on its behalf by:





Mr P J Davies - Director


PETER DAVIES & SONS LIMITED (REGISTERED NUMBER: 09395962)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2024


1. STATUTORY INFORMATION

Peter Davies & Sons Limited is a private company, limited by shares, registered in England and Wales, registration number 09395962. The address of the registered office is 100 Barbirolli Square, Manchester, M2 3BD. The principal place of business is Houldsworth Mill Shopping Centre, Houldsworth St, Stockport, SK5 6DA.

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.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax.

Turnover principally consists of income from the sale of goods at auction excluding duty and value added tax which is recognised at the point of which the goods or services are provided.

Tangible fixed assets
Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on plant and equipment is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Motor Vehicles-25% on reducing balance
Fixtures and Fittings-25% on cost
Computer Equipment-25% on cost

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Costs are based on the method most appropriate to the type of inventory class, usually on a first-in-first-out basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.


PETER DAVIES & SONS LIMITED (REGISTERED NUMBER: 09395962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st 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.

Cash and cash equivalents
Cash and cash equivalents are represented by cash at bank and in hand.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Client account
During the year Peter Davies & Sons held money on behalf of their clients, as at 31st July 2024 this amounted to £220,144 (2023: £338,060). This has not been included on the balance sheet.

Investments
Investments in classic cars are initially recognised at cost then revalued at fair value at each balance sheet date with the profit or loss recognised in the profit or loss account in the period to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

PETER DAVIES & SONS LIMITED (REGISTERED NUMBER: 09395962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st August 2023 3,140 49,704 42,623 95,467
Additions - - 19,765 19,765
At 31st July 2024 3,140 49,704 62,388 115,232
DEPRECIATION
At 1st August 2023 785 10,355 28,600 39,740
Charge for year 785 12,426 8,798 22,009
At 31st July 2024 1,570 22,781 37,398 61,749
NET BOOK VALUE
At 31st July 2024 1,570 26,923 24,990 53,483
At 31st July 2023 2,355 39,349 14,023 55,727

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 1,000 -
Other investments not loans 104,500 -
105,500 -

Additional information is as follows:
Shares in
group
undertakin
£   
COST
Additions 1,000
At 31st July 2024 1,000
NET BOOK VALUE
At 31st July 2024 1,000

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Investment Additions 104,500 -

PETER DAVIES & SONS LIMITED (REGISTERED NUMBER: 09395962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2024


5. FIXED ASSET INVESTMENTS - continued

The following were subsidiary undertakings of the company:



Name
Country of
incorporation

Class of shares

Holding
Principal
activity

Abbeymews Properties Limited

England and Wales

Ordinary

100%
Trading
Company

The registered office of the above company is 100 Barbirolli Square, Manchester, M2 3BD.

The financial year end is 29th May 2024.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 726,000
At 31st July 2024 726,000
NET BOOK VALUE
At 31st July 2024 726,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 105,528 143,523
Other debtors 156,942 615,963
262,470 759,486

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 25,246 35,778
Taxation and social security 76,251 74,578
Other creditors 33,729 6,154
135,226 116,510

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

PETER DAVIES & SONS LIMITED (REGISTERED NUMBER: 09395962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2024


10. RELATED PARTY DISCLOSURES

There were amounts owed from companies at the year end, of whom P J Davies is also a director totalling £59,800 (2023: £567,506) and amounts owed to of £14,767.

The classic cars included in Investments were purchased from P J Davies in the year of amount totalling £104,500.

In the year 100% share capital of Abbeymews Properties Limited was acquired from P J Davies. The Investment Property was purchased from Abbeymews Properties Limited for £726,000.