REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
DJ Davies Fuels Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
DJ Davies Fuels Limited |
DJ Davies Fuels Limited (Registered number: 02472797) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DJ Davies Fuels Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
13a Victoria Gardens |
Neath |
West Glamorgan |
SA11 3AY |
DJ Davies Fuels Limited (Registered number: 02472797) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
DJ Davies Fuels Limited (Registered number: 02472797) |
Balance Sheet - continued |
30 April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
DJ Davies Fuels Limited (Registered number: 02472797) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
DJ Davies Fuels Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant |
judgements and estimates. The items in the financial statements where these judgments |
and estimates have been made include: |
- Valuation of Investment Property. |
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 |
Land and buildings | - |
Plant and machinery etc | - |
Investments in associates |
Investments in associate 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 |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
DJ Davies Fuels Limited (Registered number: 02472797) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
DJ Davies Fuels Limited (Registered number: 02472797) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in |
associate |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Disposals | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Fair value at 30 April 2024 is represented by: |
£ |
Valuation in 2015 | 1,373,000 |
Valuation in 2016 | (201,109 | ) |
Valuation in 2017 | 6,563 |
Valuation in 2018 | (200,000 | ) |
Valuation in 2021 | 218,488 |
Valuation in 2022 | 231,054 |
Valuation in 2023 | 152,796 |
Valuation in 2024 | (70,000 | ) |
1,510,792 |
The valuation was performed by Mr A Davies a director of DJ Davies (Fuels) Limited as at 30/04/24. |
DJ Davies Fuels Limited (Registered number: 02472797) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade debtors |
Other debtors |
Amounts due from associate | (700 | ) | 92,245 |
VAT |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
Related party loans | 39,863 | 37,300 |
Directors' current accounts | 5,300 | - |
Accruals and deferred income |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans (see note 10) |
Hire purchase contracts |
Directors loans | 106,668 | 145,770 |
10. | LOANS |
An analysis of the maturity of loans is given below: |
30.4.24 | 30.4.23 |
£ | £ |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
DJ Davies Fuels Limited (Registered number: 02472797) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
Hire purchase contracts | 332,537 | 364,798 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.24 | 30.4.23 |
value: | £ | £ |
Ordinary | £1 | 50,000 | 50,000 |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
14. | RELATED PARTY DISCLOSURES |
The directors operate current accounts with the company. The balances due to the directors at the balance sheet date are shown in the creditors note. |
Included in related party loans are amounts due to minority shareholders, Miss SL Davies and Mr C Davies. |
Other debtors include £92,245 (2022 £172,250) due from Filtercite Ltd, a related company. |
15. | POST BALANCE SHEET EVENTS |
There were no significant post balance sheet events. |
16. | ULTIMATE CONTROLLING PARTY |
The directors consider the ultimate controlling party to be the Davies family. |