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REGISTERED NUMBER: 06544194 (England and Wales)










Davy Textiles Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






Davy Textiles Limited (Registered number: 06544194)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Davy Textiles Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: N M Davy
Mrs F S Davy
N C Davy
R J Davy





SECRETARY: Mrs F S Davy





REGISTERED OFFICE: Prince Street
Dudley Hill
Bradford
West Yorkshire
BD4 6HQ





REGISTERED NUMBER: 06544194 (England and Wales)





ACCOUNTANTS: Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

Davy Textiles Limited (Registered number: 06544194)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 458,263 472,297
Investments 5 70,000 70,000
528,263 542,297

CURRENT ASSETS
Stocks 1,621,044 1,736,288
Debtors 6 356,825 629,144
Cash at bank and in hand 571,979 540,979
2,549,848 2,906,411
CREDITORS
Amounts falling due within one year 7 (328,762 ) (560,548 )
NET CURRENT ASSETS 2,221,086 2,345,863
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,749,349

2,888,160

CREDITORS
Amounts falling due after more than one
year

8

(124,659

)

(180,071

)

PROVISIONS FOR LIABILITIES (106,247 ) (115,450 )
NET ASSETS 2,518,443 2,592,639

CAPITAL AND RESERVES
Called up share capital 77,740 77,740
Share premium 906,940 906,940
Retained earnings 1,533,763 1,607,959
SHAREHOLDERS' FUNDS 2,518,443 2,592,639

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

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

Davy Textiles Limited (Registered number: 06544194)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





Mrs F S Davy - Director


Davy Textiles Limited (Registered number: 06544194)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Davy Textiles 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Impairment of fixed assets
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 indications 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.

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.

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.

Davy Textiles Limited (Registered number: 06544194)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Investments
The investments are measured at cost less any impairment. An impairment review is undertaken when there is any indication that the investment might be impaired

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 1,090,216
Additions 97,571
Disposals (51,568 )
At 30 June 2024 1,136,219
DEPRECIATION
At 1 July 2023 617,919
Charge for year 93,362
Eliminated on disposal (33,325 )
At 30 June 2024 677,956
NET BOOK VALUE
At 30 June 2024 458,263
At 30 June 2023 472,297

Davy Textiles Limited (Registered number: 06544194)

Notes to the Financial Statements - continued
for the year ended 30 June 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
etc
£   
COST
At 1 July 2023 193,452
Additions 52,587
Disposals (41,488 )
At 30 June 2024 204,551
DEPRECIATION
At 1 July 2023 68,574
Charge for year 32,316
Eliminated on disposal (27,814 )
At 30 June 2024 73,076
NET BOOK VALUE
At 30 June 2024 131,475
At 30 June 2023 124,878

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 70,000
NET BOOK VALUE
At 30 June 2024 70,000
At 30 June 2023 70,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 312,571 564,741
Other debtors 44,254 64,403
356,825 629,144

Davy Textiles Limited (Registered number: 06544194)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 47,147 44,526
Hire purchase contracts 41,098 26,629
Trade creditors 187,754 281,968
Taxation and social security 29,801 190,024
Other creditors 22,962 17,401
328,762 560,548

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 41,592 88,739
Hire purchase contracts 49,211 47,750
Other creditors 33,856 43,582
124,659 180,071

9. PENSION COMMITMENTS

The company operates a defined contribution stakeholder pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £56,465 (2023: £121,258).

Contributions totalling £3,165 (2023: £1,793) were payable to the fund at the year end.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Davy Textiles Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Davy Textiles Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Davy Textiles Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Davy Textiles Limited and state those matters that we have agreed to state to the Board of Directors of Davy Textiles Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Davy Textiles Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Davy Textiles Limited 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 Davy Textiles Limited. You consider that Davy Textiles Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Davy Textiles Limited. 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.






Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ


Date: .............................................