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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

DAVIDS OF WIMBORNE LIMITED

DAVIDS OF WIMBORNE LIMITED (REGISTERED NUMBER: 04302766)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DAVIDS OF WIMBORNE LIMITED

COMPANY INFORMATION
For The Year Ended 31 October 2024







DIRECTOR: Mr T W David





REGISTERED OFFICE: Unit 1, St Stephens Court
15 - 17 St Stephens Road
Bournemouth
Dorset
BH2 6LA





REGISTERED NUMBER: 04302766 (England and Wales)






DAVIDS OF WIMBORNE LIMITED (REGISTERED NUMBER: 04302766)

BALANCE SHEET
31 October 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 763 1,523
Tangible assets 5 130,164 66,131
130,927 67,654

CURRENT ASSETS
Stocks 6 2,825 2,690
Debtors 7 16,562 108,019
Cash at bank and in hand 115,874 62,907
135,261 173,616
CREDITORS
Amounts falling due within one year 8 (130,665 ) (120,286 )
NET CURRENT ASSETS 4,596 53,330
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,523

120,984

CREDITORS
Amounts falling due after more than one year 9 (60,965 ) (55,890 )

PROVISIONS FOR LIABILITIES (9,687 ) (3,931 )
NET ASSETS 64,871 61,163

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 63,871 60,163
SHAREHOLDERS' FUNDS 64,871 61,163

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 6 February 2025 and were signed by:




Mr T W David - Director


DAVIDS OF WIMBORNE LIMITED (REGISTERED NUMBER: 04302766)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2024

1. STATUTORY INFORMATION

Davids of Wimborne 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Despite the coronavirus pandemic, the director is satisfied that it is appropriate for the financial statements to be prepared on a going concern basis. The pandemic has resulted in a number of uncertainties arising within the economy and the director has taken steps to minimise these effects and will continue to do so. The company has taken advantage of grants and funding measures offered by the government. Taking all matters into consideration, the director has concluded that no adjustments are required to the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 10 years from the transition date to FRS 102. Provision is made for any impairment.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

DAVIDS OF WIMBORNE LIMITED (REGISTERED NUMBER: 04302766)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured as amortised cost using the effective interest rate method, less impairment.

Change in accounting estimate
Based on new information available to the directors, the estimated useful life and residual value of motor vehicles has been amended to more accurately reflect the consumption of economic benefit of those assets. This change in accounting estimate has decelerated the depreciation charge in the year and increase the carrying value of the motor vehicles by £11,035.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 25,000
AMORTISATION
At 1 November 2023 23,477
Charge for year 760
At 31 October 2024 24,237
NET BOOK VALUE
At 31 October 2024 763
At 31 October 2023 1,523

DAVIDS OF WIMBORNE LIMITED (REGISTERED NUMBER: 04302766)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 - 22,061 171,246 2,210 195,517
Additions 51,477 24,750 40,032 170 116,429
Disposals - - (53,698 ) - (53,698 )
At 31 October 2024 51,477 46,811 157,580 2,380 258,248
DEPRECIATION
At 1 November 2023 - 20,420 106,756 2,210 129,386
Charge for year 429 556 5,599 14 6,598
Eliminated on disposal - - (7,900 ) - (7,900 )
At 31 October 2024 429 20,976 104,455 2,224 128,084
NET BOOK VALUE
At 31 October 2024 51,048 25,835 53,125 156 130,164
At 31 October 2023 - 1,641 64,490 - 66,131

The net book value of tangible fixed assets includes £ 34,761 (2023 - £ 22,308 ) in respect of assets held under hire purchase contracts.

6. STOCKS
2024 2023
£    £   
Raw materials 2,825 2,690

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,464 30,477
Amounts owed by group undertakings - 75,949
Other debtors 98 1,593
16,562 108,019

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 26,640 21,594
Trade creditors 26,420 36,471
Amounts owed to group undertakings 13,208 -
Taxation and social security 49,189 44,011
Other creditors 9,652 12,654
130,665 120,286

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 28,241 33,796
Hire purchase contracts 32,724 22,094
60,965 55,890

DAVIDS OF WIMBORNE LIMITED (REGISTERED NUMBER: 04302766)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,019 11,574

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Blandford Roofing Limited, whose registered office Unit 1 St Stephens Court, 15-17 St Stephens Road, Bournemouth, BH2 6LA.