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REGISTERED NUMBER: 01243515 (England and Wales)















D. R. DAVIES & SONS (FARMERS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






D. R. DAVIES & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 01243515)






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 (FARMERS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: N J Davies
R J Davies
Mrs S E Davies





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





REGISTERED NUMBER: 01243515 (England and Wales)





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

D. R. DAVIES & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 01243515)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 331,334 244,612
Investments 5 446,839 439,452
778,173 684,064

CURRENT ASSETS
Debtors 6 4,919 3,785
Cash at bank 61,564 168,845
66,483 172,630
CREDITORS
Amounts falling due within one year 7 212,883 211,604
NET CURRENT LIABILITIES (146,400 ) (38,974 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

631,773

645,090

PROVISIONS FOR LIABILITIES 5,976 7,082
NET ASSETS 625,797 638,008

CAPITAL AND RESERVES
Called up share capital 8 45,510 45,510
Share redemption reserve 9 (493,522 ) (493,522 )
Capital redemption reserve 9 86,332 86,332
Retained earnings 9 987,477 999,688
SHAREHOLDERS' FUNDS 625,797 638,008

D. R. DAVIES & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 01243515)

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 25 February 2025 and were signed on its behalf by:





N J Davies - Director


D. R. DAVIES & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 01243515)

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

1. STATUTORY INFORMATION

D. R. Davies & Sons (Farmers) 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.

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.
Freehold property - in accordance with the property
Buildings and improvements - in accordance with the property
Plant and machinery - 10% on reducing balance
Tractors and motor vehicles - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

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

D. R. DAVIES & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 01243515)

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

4. TANGIBLE FIXED ASSETS
Buildings Tractors
Freehold and Plant and and motor
property improvements machinery vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 163,607 47,190 86,021 76,727 373,545
Additions - 93,826 - 6,720 100,546
Disposals - - (321 ) - (321 )
At 31 May 2024 163,607 141,016 85,700 83,447 473,770
DEPRECIATION
At 1 June 2023 - 4,055 77,413 47,465 128,933
Charge for year - 5,478 829 7,196 13,503
At 31 May 2024 - 9,533 78,242 54,661 142,436
NET BOOK VALUE
At 31 May 2024 163,607 131,483 7,458 28,786 331,334
At 31 May 2023 163,607 43,135 8,608 29,262 244,612

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 80 80
Loans to group undertakings 446,759 439,372
446,839 439,452

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 80
NET BOOK VALUE
At 31 May 2024 80
At 31 May 2023 80
Loans to
group
undertakings
£   
At 1 June 2023 439,372
New in year 21,787
Repayment in year (14,400 )
At 31 May 2024 446,759

D. R. DAVIES & SONS (FARMERS) LIMITED (REGISTERED NUMBER: 01243515)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,016 3,038
VAT 903 747
4,919 3,785

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,900 -
Directors' current accounts 199,821 200,442
Accruals and deferred income 11,162 11,162
212,883 211,604

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
45,510 Ordinary £1 45,510 45,510

9. RESERVES
Share Capital
Retained redemption redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 June 2023 999,688 (493,522 ) 86,332 592,498
Deficit for the year (12,211 ) (12,211 )
At 31 May 2024 987,477 (493,522 ) 86,332 580,287

10. RELATED PARTY DISCLOSURES

During the period the director of D R Davies and Sons (Farmers) Limited was also the director and shareholder of D R Davies and Sons (Lower Derndale) Limited. During the year goods and services supplied to D R Davies and Sons (Lower Derndale) Limited were £12,000 (2023 - £12,000). The inter-company loan balance as at 31 May 2024 is £446,759 (2023 - £439,372).