Registered number
04545625
David H Myers (Penwortham) Limited
Unaudited Filleted Accounts
30 September 2024
David H Myers (Penwortham) Limited
Registered number: 04545625
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 250,707 261,081
Current assets
Stocks 36,872 39,406
Debtors 4 21,317 39,058
Cash at bank and in hand 92,869 79,729
151,058 158,193
Creditors: amounts falling due within one year 5 (88,139) (129,060)
Net current assets 62,919 29,133
Total assets less current liabilities 313,626 290,214
Creditors: amounts falling due after more than one year 6 (9,844) (29,148)
Provisions for liabilities (4,221) (6,611)
Net assets 299,561 254,455
Capital and reserves
Called up share capital 193 192
Share premium 69,908 69,908
Profit and loss account 229,460 184,355
Shareholders' funds 299,561 254,455
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 R Lowther
Director Director
Mr B Myers
Director
Approved by the board on 27 January 2025
David H Myers (Penwortham) 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.
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:
Land and buildings 2% straight line
Equipment 25% reducing balance
Fixtures and fittings 15% reducing balance
Computer equipment 25% 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 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 240,749 159,761 400,510
Disposals - (22,995) (22,995)
At 30 September 2024 240,749 136,766 377,515
Depreciation
At 1 October 2023 6,112 133,317 139,429
Charge for the year 815 4,759 5,574
On disposals - (18,195) (18,195)
At 30 September 2024 6,927 119,881 126,808
Net book value
At 30 September 2024 233,822 16,885 250,707
At 30 September 2023 234,637 26,444 261,081
4 Debtors 2024 2023
£ £
Trade debtors 13,405 16,040
Amounts owed by group undertakings and undertakings in which the company has a participating interest 6,750 -
Other debtors 1,162 23,018
21,317 39,058
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 22,456 22,456
Trade creditors 19,057 13,580
Amounts owed to group undertakings and undertakings in which the company has a participating interest 4,593 58,261
Taxation and social security costs 37,660 31,118
Other creditors 4,373 3,645
88,139 129,060
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,844 29,148
7 Other information
David H Myers (Penwortham) 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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