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Registered number: 13027772
Davidson Training Solutions Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13027772
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,106,509 795,723
1,106,509 795,723
CURRENT ASSETS
Stocks 5 31,440 -
Debtors 6 907,380 72,054
Cash at bank and in hand 925,927 717,544
1,864,747 789,598
Creditors: Amounts Falling Due Within One Year 7 (1,428,900 ) (589,348 )
NET CURRENT ASSETS (LIABILITIES) 435,847 200,250
TOTAL ASSETS LESS CURRENT LIABILITIES 1,542,356 995,973
PROVISIONS FOR LIABILITIES
Deferred Taxation (82,204 ) -
NET ASSETS 1,460,152 995,973
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,460,052 995,873
SHAREHOLDERS' FUNDS 1,460,152 995,973
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs Shanice Davidson
Director
8 April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Davidson Training Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13027772 . The registered office is 1st Floor, 3 Canberra House, , Corby Gate Business Park, Priors Haw Road, Corby, Northants, NN17 5JG.
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. 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 2% straight line
Leasehold over 25 years
Plant & Machinery 25% straight line
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% straight line
Computer Equipment 25% straight line
2.4. 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.
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 52 (2022: 1)
52 1
4. Tangible Assets
Land & Property
Freehold Leasehold Investment Properties Plant & Machinery
£ £ £ £
Cost
As at 1 December 2022 - - 684,017 89,996
Additions 22,320 191,950 101,185 88,029
Disposals - - - -
As at 30 November 2023 22,320 191,950 785,202 178,025
Depreciation
As at 1 December 2022 - - 13,680 22,499
Provided during the period 446 7,678 15,704 42,704
Disposals - - - -
As at 30 November 2023 446 7,678 29,384 65,203
Net Book Value
As at 30 November 2023 21,874 184,272 755,818 112,822
As at 1 December 2022 - - 670,337 67,497
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 38,797 30,174 7,051 850,035
Additions - 16,290 4,499 424,273
Disposals (38,797 ) (5,570 ) - (44,367 )
As at 30 November 2023 - 40,894 11,550 1,229,941
Depreciation
As at 1 December 2022 8,346 7,544 2,243 54,312
Provided during the period - 9,461 2,865 78,858
Disposals (8,346 ) (1,392 ) - (9,738 )
As at 30 November 2023 - 15,613 5,108 123,432
Net Book Value
As at 30 November 2023 - 25,281 6,442 1,106,509
As at 1 December 2022 30,451 22,630 4,808 795,723
Page 4
Page 5
5. Stocks
2023 2022
£ £
Stock 31,440 -
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 57,055 38,554
Amounts owed by group undertakings 780,888 -
Other debtors 69,437 33,500
907,380 72,054
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 122,981 177,557
Other loans - 33,430
Other creditors 685,654 25,001
Taxation and social security 620,265 353,360
1,428,900 589,348
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Pension Commitments
The company operates a defined contribution pension scheme for the employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £520 (PY £nil) were due to the fund. They are included in Other Creditors.
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