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REGISTERED NUMBER: 02167585 (England and Wales)















D. R. DAVIES & SONS (LOWER DERNDALE)
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






D. R. DAVIES & SONS (LOWER DERNDALE)
LIMITED (REGISTERED NUMBER: 02167585)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D. R. DAVIES & SONS (LOWER DERNDALE)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: N J Davies
R J Davies





REGISTERED OFFICE: West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ





REGISTERED NUMBER: 02167585 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

D. R. DAVIES & SONS (LOWER DERNDALE)
LIMITED (REGISTERED NUMBER: 02167585)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,067 25,568

CURRENT ASSETS
Stocks 22,275 24,400
Debtors 5 5,023 3,820
Cash at bank 10,402 2,717
37,700 30,937
CREDITORS
Amounts falling due within one year 6 655,869 651,953
NET CURRENT LIABILITIES (618,169 ) (621,016 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(594,102

)

(595,448

)

CREDITORS
Amounts falling due after more than one
year

7

(24,713

)

(41,069

)

PROVISIONS FOR LIABILITIES (4,573 ) (4,858 )
NET LIABILITIES (623,388 ) (641,375 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (623,488 ) (641,475 )
SHAREHOLDERS' FUNDS (623,388 ) (641,375 )

D. R. DAVIES & SONS (LOWER DERNDALE)
LIMITED (REGISTERED NUMBER: 02167585)

BALANCE SHEET - continued
31 MAY 2024


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

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

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





N J Davies - Director


D. R. DAVIES & SONS (LOWER DERNDALE)
LIMITED (REGISTERED NUMBER: 02167585)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

D. R. Davies & Sons (Lower Derndale) 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.

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.

Preparation of consolidated financial statements
The parent company and its subsidiary undertakings comprise a small group. The parent company has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2006 not to prepare group accounts.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings and improvements - in accordance with the property
Implements and Machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 10% on reducing balance

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.

D. R. DAVIES & SONS (LOWER DERNDALE)
LIMITED (REGISTERED NUMBER: 02167585)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Buildings Implements
and and Motor Office
improvements Machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 12,002 55,989 1,100 1,371 70,462
Additions - 640 - - 640
At 31 May 2024 12,002 56,629 1,100 1,371 71,102
DEPRECIATION
At 1 June 2023 3,357 39,730 854 953 44,894
Charge for year 346 1,691 62 42 2,141
At 31 May 2024 3,703 41,421 916 995 47,035
NET BOOK VALUE
At 31 May 2024 8,299 15,208 184 376 24,067
At 31 May 2023 8,645 16,259 246 418 25,568

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 150
VAT 4,580 3,350
Prepayments and accrued income 443 320
5,023 3,820

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,000 14,700
Other loans 142 10,829
Trade creditors 5,804 9,563
Amounts owed to group undertakings 446,759 439,372
Tax 33 -
Directors' current accounts 185,319 175,587
Accruals and deferred income 1,812 1,902
655,869 651,953

D. R. DAVIES & SONS (LOWER DERNDALE)
LIMITED (REGISTERED NUMBER: 02167585)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 16,000 14,700
Bank loans - 2-5 years 8,713 26,369
24,713 41,069

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 June 2023 (641,475 )
Profit for the year 17,987
At 31 May 2024 (623,488 )

10. RELATED PARTY DISCLOSURES

The director of D R Davies and Sons (Lower Derndale) Limited is also director and shareholder of D R Davies and Sons (Farmers) Limited. During this year goods and services were supplied by D R Davies and Sons (Farmers) Limited to the value of £12,000 (2023 - £12,000). The inter-company loan balance as at 31 May 2024 is £446,759 (2023 - £439,372).
Mrs S E Davies has loaned the company a total of £142 and is due to be repaid over the next year.

11. PARENT COMPANY UNDERTAKINGS

The ultimate parent company is D R Davies and Sons (Farmers) Limited, a company registered in Great Britain and under the control of N J Davies.