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REGISTERED NUMBER: 02993198 (England and Wales)















Davies Brothers (Wales) Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023






Davies Brothers (Wales) Limited (Registered number: 02993198)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Davies Brothers (Wales) Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: C T Davies





SECRETARY: C T Davies





REGISTERED OFFICE: 1 Thomas Street
Aberdare
Mid Glamorgan
CF44 8EY





REGISTERED NUMBER: 02993198 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Davies Brothers (Wales) Limited (Registered number: 02993198)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 75,500 112,419
Investments 5 75,364 75,364
150,864 187,783

CURRENT ASSETS
Stocks 182,440 182,440
Debtors 6 611,105 505,166
Cash at bank 91,126 290,728
884,671 978,334
CREDITORS
Amounts falling due within one year 7 763,608 798,266
NET CURRENT ASSETS 121,063 180,068
TOTAL ASSETS LESS CURRENT
LIABILITIES

271,927

367,851

CREDITORS
Amounts falling due after more than one year 8 - (8,561 )

PROVISIONS FOR LIABILITIES 9 (6,814 ) (21,360 )
NET ASSETS 265,113 337,930

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 265,111 337,928
SHAREHOLDERS' FUNDS 265,113 337,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Davies Brothers (Wales) Limited (Registered number: 02993198)

Balance Sheet - continued
30 November 2023


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 29 November 2024 and were signed by:





C T Davies - Director


Davies Brothers (Wales) Limited (Registered number: 02993198)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Davies Brothers (Wales) 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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.

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.

Davies Brothers (Wales) Limited (Registered number: 02993198)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Investments in shares are carried at cost less impairment.

Government grants
Government grants received are treated as deferred credits and credited to the profit and loss account over the estimated useful life of the relevant fixed assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 44,642 8,402 319,806 3,181 376,031
Additions - - 3,500 - 3,500
At 30 November 2023 44,642 8,402 323,306 3,181 379,531
DEPRECIATION
At 1 December 2022 40,119 8,129 212,193 3,171 263,612
Charge for year 905 55 39,449 10 40,419
At 30 November 2023 41,024 8,184 251,642 3,181 304,031
NET BOOK VALUE
At 30 November 2023 3,618 218 71,664 - 75,500
At 30 November 2022 4,523 273 107,613 10 112,419

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022
and 30 November 2023 75,364
NET BOOK VALUE
At 30 November 2023 75,364
At 30 November 2022 75,364

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 83,284 17,875
Other debtors 527,821 487,291
611,105 505,166

Davies Brothers (Wales) Limited (Registered number: 02993198)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts - 10,200
Trade creditors 108,334 158,576
Amounts owed to group undertakings 490,454 528,424
Taxation and social security 77,135 88,968
Other creditors 87,685 12,098
763,608 798,266

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts - 8,561

9. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax
Accelerated capital allowances 6,814 21,360

Deferred
tax
£   
Balance at 1 December 2022 21,360
Provided during year (14,546 )
Transferred to profit and loss
Balance at 30 November 2023 6,814

10. RELATED PARTY DISCLOSURES

During the year, the reporting entity received a loan of £70,000 from a partnership in which the director is a partner. The balance outstanding as at the balance sheet date was £70,000 (2022: £nil).