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REGISTERED NUMBER: 02354983 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

DAVY ENGINEERING LIMITED

DAVY ENGINEERING LIMITED (REGISTERED NUMBER: 02354983)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DAVY ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: D P Evans
J M Evans
J G Evans





REGISTERED OFFICE: Stirling Road
Shirley
Solihull
West Midlands
B90 4NE





REGISTERED NUMBER: 02354983 (England and Wales)





ACCOUNTANTS: Clive Shedd & Co
Chartered Accountants
232 Sladepool Farm Road
Birmingham
B14 5EE

DAVY ENGINEERING LIMITED (REGISTERED NUMBER: 02354983)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 676,531 633,569

CURRENT ASSETS
Stocks 1,409,692 1,220,481
Debtors 6 2,587,975 2,344,162
Cash at bank and in hand 881,166 742,842
4,878,833 4,307,485
CREDITORS
Amounts falling due within one year 7 2,772,250 2,218,451
NET CURRENT ASSETS 2,106,583 2,089,034
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,783,114

2,722,603

PROVISIONS FOR LIABILITIES 20,930 7,300
NET ASSETS 2,762,184 2,715,303

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 148,787 148,787
Retained earnings 2,613,297 2,566,416
SHAREHOLDERS' FUNDS 2,762,184 2,715,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

DAVY ENGINEERING LIMITED (REGISTERED NUMBER: 02354983)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





D P Evans - Director


DAVY ENGINEERING LIMITED (REGISTERED NUMBER: 02354983)

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

1. STATUTORY INFORMATION

Davy Engineering 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company's functional and presentation currency is the pound sterling, rounded to the nearest £.

Significant judgements and estimates
In preparing these financial statements the company's management make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the statement of financial position date and the amounts reported in the income statement for the year under review.

The nature of estimates means that the actual outcome could differ and the company's management consider there are no estimates or assumptions that have a significant risk of causing a material adjustment to the amounts reported for assets and liabilities within the next financial year.

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.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 20% on cost

The company's practice is to maintain its land and buildings in a state of repair and refurbishment such that the residual value is at least equal to its book value. Consequently a depreciation charge is considered to be immaterial.

Tangible fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets and liabilities are initially recognised at transaction price and are subsequently measured at amortised cost.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

DAVY ENGINEERING LIMITED (REGISTERED NUMBER: 02354983)

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

3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes. Contributions payable for the year are charged to profit or loss in the period to which they relate.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the amount expected to be paid in exchange for that service.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 August 2023 581,720 302,491 884,211
Additions - 75,925 75,925
Disposals - (36,119 ) (36,119 )
At 31 July 2024 581,720 342,297 924,017
DEPRECIATION
At 1 August 2023 - 250,642 250,642
Charge for year - 28,046 28,046
Eliminated on disposal - (31,202 ) (31,202 )
At 31 July 2024 - 247,486 247,486
NET BOOK VALUE
At 31 July 2024 581,720 94,811 676,531
At 31 July 2023 581,720 51,849 633,569

Cost or valuation at 31 July 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2008 550,000 - 550,000
Cost 31,720 342,297 374,017
581,720 342,297 924,017

DAVY ENGINEERING LIMITED (REGISTERED NUMBER: 02354983)

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

5. TANGIBLE FIXED ASSETS - continued

If land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 432,933 432,933

Land and buildings were valued on an open market basis on 2 July 2008 by Reeves & Partners, Chartered Surveyors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,147,115 1,876,573
Other debtors 427,076 454,784
Prepayments and accrued income 13,784 12,805
2,587,975 2,344,162

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,210,710 1,641,026
Taxation and social security 219,041 288,055
Other creditors 322,708 270,947
Accruals and deferred income 19,791 18,423
2,772,250 2,218,451

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Revaluation
reserve
£   
At 1 August 2023
and 31 July 2024 148,787

If the company's land and buildings were sold at the revalued amount no tax liability would arise.