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Registered number: 08098843
David Ball Agencies Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Linggard and Thomas
Kew An Lergh
Stret Mygthern Arrthur
Nansledan
TR8 4UX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08098843
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 60,000 90,000
Tangible Assets 5 58,926 70,519
118,926 160,519
CURRENT ASSETS
Stocks 6 6,347 13,311
Debtors 7 301,627 298,178
Cash at bank and in hand 344,236 370,566
652,210 682,055
Creditors: Amounts Falling Due Within One Year 8 (369,017 ) (373,922 )
NET CURRENT ASSETS (LIABILITIES) 283,193 308,133
TOTAL ASSETS LESS CURRENT LIABILITIES 402,119 468,652
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,732 ) (17,630 )
NET ASSETS 387,387 451,022
CAPITAL AND RESERVES
Called up share capital 9 50 50
Capital redemption reserve 50 50
Profit and Loss Account 387,287 450,922
SHAREHOLDERS' FUNDS 387,387 451,022
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Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Daniel Morley Ball
Director
Mr Richard Holder
Director
21/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
David Ball Agencies Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08098843 . The registered office is 34 East Street, Newquay, Cornwall, TR7 1BH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% Straight Line
Plant & Machinery 25% Straight Line
Computer Equipment 20% Straight Line
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 13)
12 13
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 300,000
As at 31 August 2024 300,000
Amortisation
As at 1 September 2023 210,000
Provided during the period 30,000
As at 31 August 2024 240,000
Net Book Value
As at 31 August 2024 60,000
As at 1 September 2023 90,000
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 38,234 788 72,116 111,138
Additions - - 3,111 3,111
As at 31 August 2024 38,234 788 75,227 114,249
Depreciation
As at 1 September 2023 13,878 453 26,288 40,619
Provided during the period 4,871 197 9,636 14,704
As at 31 August 2024 18,749 650 35,924 55,323
Net Book Value
As at 31 August 2024 19,485 138 39,303 58,926
As at 1 September 2023 24,356 335 45,828 70,519
6. Stocks
2024 2023
£ £
Finished goods 6,347 13,311
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,668 79,124
Amounts owed by group undertakings 184,795 107,150
Other debtors 97,164 111,904
301,627 298,178
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,354 9,241
Other creditors 306,008 288,943
Taxation and social security 48,655 75,738
369,017 373,922
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50 50
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10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 10,739 8,221
Later than one year and not later than five years 16,058 25,815
Later than five years 41,125 51,625
67,922 85,661
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Daniel Morley Ball 8,202 60,592 44,000 - 24,794
Mr Richard Holder 28,431 44,575 44,000 - 29,006
The above loan is unsecured, and repayable on demand. Interest is charged at the official rate.
12. Related Party Transactions
David Ball Agencies (Partnership)
During the period, the company incurred management fees of £12,000 (2023 £12,000 ) from David Ball Agencies (a partnership owned by both of the Directors). The balance owed to the company at the end of the period was £26,347 (2023 £51,769). The loan is interest free.
JS Cornwall Ltd
During the period, the company made a loan to JS Cornwall Ltd (parent company). The balance owed to the company at the end of the period was £184,795 (2023 £107,150). The loan is interest free.
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