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T B Davies (Cardiff) Limited

Audited Financial Statements for the Year Ended 31 December 2024






T B Davies (Cardiff) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: F Camilleri
P J Gray
M T Gray
M P Gray
J S Gray
D J Gray





SECRETARY: M T Gray





REGISTERED OFFICE: Lewis Road
Cardiff
CF24 5EB





REGISTERED NUMBER: 00534073 (England and Wales)





AUDITORS: BPU Limited
Chartered Accountants
Statutory Auditor
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

T B Davies (Cardiff) Limited (Registered number: 00534073)

Balance Sheet
31 December 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 3 366,495 274,503
Investments 4 20,584 24,210
387,079 298,713

CURRENT ASSETS
Stocks 870,598 1,334,110
Debtors 5 1,211,434 1,095,432
Investments 6 560,362 555,936
Cash at bank and in hand 127,368 190,670
2,769,762 3,176,148
CREDITORS
Amounts falling due within one
year

7

1,596,443

1,960,378
NET CURRENT ASSETS 1,173,319 1,215,770
TOTAL ASSETS LESS
CURRENT LIABILITIES

1,560,398

1,514,483

CREDITORS
Amounts falling due after more
than one year

8

156,565

121,869
NET ASSETS 1,403,833 1,392,614

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 1,373,833 1,362,614
SHAREHOLDERS' FUNDS 1,403,833 1,392,614

T B Davies (Cardiff) Limited (Registered number: 00534073)

Balance Sheet - continued
31 December 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2025 and were signed on its behalf by:





D J Gray - Director


T B Davies (Cardiff) Limited (Registered number: 00534073)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the net fair value of the consideration received or receivable, excluding 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - at rates varying between 10% and 33.33%
Motor vehicles - 20% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.


T B Davies (Cardiff) Limited (Registered number: 00534073)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


1. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Listed investments are stated at fair value. Unlisted investments are stated at cost less any provision for permanent diminution in value.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand.

Bank overdrafts
Bank overdrafts are presented in current liabilities to the extent that there is no right of offset with cash balances.

T B Davies (Cardiff) Limited (Registered number: 00534073)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 24 ) .

3. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 January 2024 443,921 43,627 487,548
Additions 42,811 148,792 191,603
Disposals - (25,383 ) (25,383 )
At 31 December 2024 486,732 167,036 653,768
DEPRECIATION
At 1 January 2024 175,196 37,849 213,045
Charge for year 80,778 16,893 97,671
Eliminated on disposal - (23,443 ) (23,443 )
At 31 December 2024 255,974 31,299 287,273
NET BOOK VALUE
At 31 December 2024 230,758 135,737 366,495
At 31 December 2023 268,725 5,778 274,503

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 January 2024 155,711 - 155,711
Additions - 109,538 109,538
At 31 December 2024 155,711 109,538 265,249
DEPRECIATION
At 1 January 2024 33,777 - 33,777
Charge for year 31,142 10,512 41,654
At 31 December 2024 64,919 10,512 75,431
NET BOOK VALUE
At 31 December 2024 90,792 99,026 189,818
At 31 December 2023 121,934 - 121,934

T B Davies (Cardiff) Limited (Registered number: 00534073)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£ £ £
COST OR VALUATION
At 1 January 2024 84 24,126 24,210
Revaluations - (3,626 ) (3,626 )
At 31 December 2024 84 20,500 20,584
NET BOOK VALUE
At 31 December 2024 84 20,500 20,584
At 31 December 2023 84 24,126 24,210

Cost or valuation at 31 December 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£ £ £
Valuation in 2025 - (3,626 ) (3,626 )
Cost 84 24,126 24,210
84 20,500 20,584

5. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 937,079 891,249
Other debtors & prepayments 248,755 146,483
1,185,834 1,037,732

Amounts falling due after more than one year:
Other debtors 25,600 57,700

Aggregate amounts 1,211,434 1,095,432

T B Davies (Cardiff) Limited (Registered number: 00534073)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


6. CURRENT ASSET INVESTMENTS
2024 2023
£ £
Listed investments 560,362 555,936

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£ £
Bank loans and overdrafts 613,850 578,816
Hire purchase contracts (see note 9)
54,722

34,519
Trade creditors 618,379 892,153
Amounts owed to group undertakings 84 84
Taxes & social security costs 87,720 86,397
Other creditors & accruals 221,688 368,409
1,596,443 1,960,378

8. CREDITORS: AMOUNTS FALLING DUE AFTER
MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 9)
156,565

121,869

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
2024 2023
£ £
Net obligations repayable:
Within one year 54,722 34,519
Between one and five years 156,565 121,869
211,287 156,388

T B Davies (Cardiff) Limited (Registered number: 00534073)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


9. LEASING AGREEMENTS - continued

Non-cancellable
operating leases
2024 2023
£ £
Within one year 220,822 218,947
Between one and five years 842,122 838,824
In more than five years 120,315 326,570
1,183,259 1,384,341

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 211,287 156,388

The hire purchase contracts are secured over the assets to which they relate.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Matthew Toye FCA (Senior Statutory Auditor)
for and on behalf of BPU Limited

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£ £
P J Gray
Balance outstanding at start of year 2,189 12,049
Amounts advanced 2,471 4,685
Amounts repaid (4,602 ) (14,545 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58 2,189

T B Davies (Cardiff) Limited (Registered number: 00534073)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

D J Gray
Balance outstanding at start of year 1,665 1,554
Amounts advanced 17,287 13,664
Amounts repaid (17,525 ) (13,553 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,427 1,665

M T Gray
Balance outstanding at start of year 128 147
Amounts advanced 50 3,675
Amounts repaid (178 ) (3,694 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 128

J S Gray
Balance outstanding at start of year - 973
Amounts repaid - (973 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

F Camilleri
Balance outstanding at start of year - 42
Amounts advanced - 231
Amounts repaid - (273 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T B Davies (Holdings) Limited.

Consolidated financial statements are not prepared as the group qualifies as small.