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REGISTERED NUMBER: 04393412












Financial Statements

for the Year Ended 30 April 2024

for

Irfon Davies Limited

Irfon Davies Limited (Registered number: 04393412)






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


Irfon Davies Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: D.I. Davies





REGISTERED OFFICE: Bryn Trogyn
Clunderwen
LLANDISSILIO
Pembrokeshire
SA66 7PT





REGISTERED NUMBER: 04393412

Irfon Davies Limited (Registered number: 04393412)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 1,791,176 1,709,175
1,791,176 1,709,175

CURRENT ASSETS
Stocks 500 500
Debtors 5 412,066 396,464
Cash at bank 814,297 656,487
1,226,863 1,053,451
CREDITORS
Amounts falling due within one year 6 114,400 100,187
NET CURRENT ASSETS 1,112,463 953,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,903,639

2,662,439

CREDITORS
Amounts falling due after more than one
year

7

(54,196

)

(14,000

)

PROVISIONS FOR LIABILITIES (447,794 ) (427,294 )
NET ASSETS 2,401,649 2,221,145

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,401,647 2,221,143
SHAREHOLDERS' FUNDS 2,401,649 2,221,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Irfon Davies Limited (Registered number: 04393412)

Balance Sheet - continued
30 April 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 20 January 2025 and were signed by:





D.I. Davies - Director


Irfon Davies Limited (Registered number: 04393412)

Notes to the Financial Statements
for the Year Ended 30 April 2024

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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

Plant and machinery - Over 7.5 years straight line assuming a 15% residual value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Irfon Davies Limited (Registered number: 04393412)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 30,000
AMORTISATION
At 1 May 2023
and 30 April 2024 30,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Computer Totals
£    £    £    £   
COST
At 1 May 2023 17,798 3,013,620 790 3,032,208
Additions - 571,073 - 571,073
Disposals - (363,150 ) - (363,150 )
At 30 April 2024 17,798 3,221,543 790 3,240,131
DEPRECIATION
At 1 May 2023 17,798 1,304,445 790 1,323,033
Charge for year - 316,090 - 316,090
Eliminated on disposal - (190,168 ) - (190,168 )
At 30 April 2024 17,798 1,430,367 790 1,448,955
NET BOOK VALUE
At 30 April 2024 - 1,791,176 - 1,791,176
At 30 April 2023 - 1,709,175 - 1,709,175

Irfon Davies Limited (Registered number: 04393412)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2023 284,575
Additions 243,500
Transfer to ownership (250,500 )
At 30 April 2024 277,575
DEPRECIATION
At 1 May 2023 75,921
Charge for year 40,870
Transfer to ownership (70,810 )
At 30 April 2024 45,981
NET BOOK VALUE
At 30 April 2024 231,594
At 30 April 2023 208,654

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 345,028 291,512
Other debtors 24,337 34,204
Directors' current accounts 10,244 41,655
VAT 17,641 16,419
Prepayments 14,816 12,674
412,066 396,464

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 42,446 47,268
Trade creditors 15,078 28,315
Tax 52,226 14,341
Social security and other taxes 692 1,574
Other creditors 758 5,689
Accrued expenses 3,200 3,000
114,400 100,187

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 54,196 14,000

Irfon Davies Limited (Registered number: 04393412)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
D.I. Davies
Balance outstanding at start of year 41,655 72,780
Amounts advanced 18,040 18,449
Amounts repaid (49,451 ) (49,574 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,244 41,655

During the period the company's director was charged interest of £945 in relation to his loan from the company.