REGISTERED NUMBER: 09865269 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

FOR

DAVIES & DAVIES GROUP LTD

PREVIOUSLY KNOWN AS

DAVIES & DAVIES ESTATE AGENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M D Davies

Ms C H Davies

A M Reach

M D Scales

K J Fernandes

REGISTERED OFFICE:

85 Stroud Green Road

London

N4 3EG

REGISTERED NUMBER:

09865269 (England and Wales)

ACCOUNTANTS:

Melinek Fine LLP

Chartered Accountants

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

FIXED ASSETS

Intangible assets

4

204,000

238,000

Tangible assets

5

10,526

13,468

214,526

251,468

CURRENT ASSETS

Debtors

6

71,205

168,685

Cash at bank

233,777

186,321

304,982

355,006

CREDITORS

Amounts falling due within one year

7

58,881

52,358

NET CURRENT ASSETS

246,101

302,648

TOTAL ASSETS LESS CURRENT LIABILITIES

460,627

554,116

CAPITAL AND RESERVES

Called up share capital

1,177

1,177

Share premium

8

552,457

552,457

Profit and loss account

8

(93,007

)

482

SHAREHOLDERS' FUNDS

460,627

554,116

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

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

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 and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by:

M D Davies - Director

1.	STATUTORY INFORMATION

Davies & Davies Group Ltd 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.

Turnover

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

Revenue from commissions on residential sales and lettings is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on completion of services; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

The intangible asset relates to Goodwill, being the amount paid in connection with the acquisition of a business in 2015. Goodwill is being amortised evenly over its estimated useful life of fifteen years.

Tangible fixed assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less and accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings - over the period of the leasehold interests

Plant and machinery etc. - 25% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.

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.

Pension costs and other post-retirement benefits

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.

The company also contributes into a personal pension scheme in the name of one of the company's directors. Contributions to the scheme are charged to profit and loss account as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

510,000

AMORTISATION

At 1 January 2024

272,000

Charge for year

34,000

At 31 December 2024

306,000

NET BOOK VALUE

At 31 December 2024

204,000

At 31 December 2023

238,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

94,884

Additions

2,198

Disposals

(46,398

)

At 31 December 2024

50,684

DEPRECIATION

At 1 January 2024

81,416

Charge for year

5,140

Eliminated on disposal

(46,398

)

At 31 December 2024

40,158

NET BOOK VALUE

At 31 December 2024

10,526

At 31 December 2023

13,468

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

11,067

624

Other debtors

60,138

168,061

71,205

168,685

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

52,007

46,288

Other creditors

6,874

6,070

58,881

52,358

8.

RESERVES

During the year, the company declared and paid dividends to shareholders which subsequently resulted in a deficit on the profit and loss reserves at the year-end. At the time of declaring the dividends, the directors believed there were sufficient distributable reserves available based on the financial information then available to them.

Following a review, the directors acknowledge that the dividends have given rise to a deficit in the reserves. The directors have taken appropriate steps to rectify this position and have restored positive reserves by doing a capital reduction during the 2025 financial year.

9.	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

£

£

Ms C H Davies

Balance outstanding at start of year

37,870

16,583

Amounts repaid

(37,870

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

818

37,870

A M Reach

Balance outstanding at start of year

37,870

16,583

Amounts repaid

(37,870

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

818

37,870

M D Scales

Balance outstanding at start of year

37,870

16,583

Amounts repaid

(37,870

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

818

37,870

The Company is charging interest of 2% on advances to directors.