Registered number
03322647
David H Myers (Leeds) Limited
Unaudited Filleted Accounts
30 September 2024
David H Myers (Leeds) Limited
Registered number: 03322647
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 82,741 59,270
Current assets
Stocks 142,560 125,935
Debtors 5 226,149 221,125
Cash at bank and in hand 55,837 13,571
424,546 360,631
Creditors: amounts falling due within one year 6 (242,667) (147,454)
Net current assets 181,879 213,177
Total assets less current liabilities 264,620 272,447
Provisions for liabilities (20,686) (14,818)
Net assets 243,934 257,629
Capital and reserves
Called up share capital 100 100
Profit and loss account 243,834 257,529
Shareholders' funds 243,934 257,629
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Myers Mr M Brigg
Director Director
Mr B Myers
Director
Approved by the board on 20 January 2025
David H Myers (Leeds) Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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 work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold property alterations 10% straight line
Fixtures and fittings 15% reducing balance
Computer equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 27,110
At 30 September 2024 27,110
Amortisation
At 1 October 2023 27,110
At 30 September 2024 27,110
Net book value
At 30 September 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 51,568 124,073 175,641
Additions - 34,791 34,791
At 30 September 2024 51,568 158,864 210,432
Depreciation
At 1 October 2023 30,512 85,859 116,371
Charge for the year 5,157 6,163 11,320
At 30 September 2024 35,669 92,022 127,691
Net book value
At 30 September 2024 15,899 66,842 82,741
At 30 September 2023 21,056 38,214 59,270
5 Debtors 2024 2023
£ £
Trade debtors 54,834 52,909
Amounts owed by group undertakings and undertakings in which the company has a participating interest 152,342 149,432
Other debtors 18,973 18,784
226,149 221,125
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 110,905 68,614
Amounts owed to group undertakings and undertakings in which the company has a participating interest 16,049 5,389
Taxation and social security costs 59,752 28,862
Other creditors 55,961 44,589
242,667 147,454
7 Other information
David H Myers (Leeds) Limited is a private company limited by shares and incorporated in England. Its registered office is:
300 St Mary's Road
Garston
Liverpool
Merseyside
L19 0NQ
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