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Company registration number: 08269587
Gary Davison Construction Limited
Pages for filing with Registrar
31 December 2024
Gary Davison Construction Limited
Contents
Statement of financial position
Notes to the financial statements
Gary Davison Construction Limited
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Current assets
Debtors 6 1,198,666 1,176,420
Cash at bank and in hand 2,478 3,295
_______ _______
1,201,144 1,179,715
Creditors: amounts falling due
within one year 7 ( 878,386) ( 845,573)
_______ _______
Net current assets 322,758 334,142
_______ _______
Total assets less current liabilities 322,758 334,142
Creditors: amounts falling due
after more than one year 8 ( 7,836) ( 18,143)
_______ _______
Net assets 314,922 315,999
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 314,920 315,997
_______ _______
Shareholders funds 314,922 315,999
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:
G K Davison
Director
Company registration number: 08269587
Gary Davison Construction Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Gary Davison Construction Limited, The Grainger Suite, Dobson House, Regent Centre, Newcastle upon Tyne, NE3 3PF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any 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:
Plant and machinery - 20 % 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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 January 2024 1,800 1,800
Disposals ( 1,800) ( 1,800)
_______ _______
At 31 December 2024 - -
_______ _______
Depreciation
At 1 January 2024 1,800 1,800
Disposals ( 1,800) ( 1,800)
_______ _______
At 31 December 2024 - -
_______ _______
Carrying amount
At 31 December 2024 - -
_______ _______
At 31 December 2023 - -
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 41,824 41,824
Other debtors 1,156,842 1,134,596
_______ _______
1,198,666 1,176,420
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,336 10,081
Trade creditors 578 254
Corporation tax ( 28) ( 27)
Other creditors 867,500 835,265
_______ _______
878,386 845,573
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 7,836 18,143
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
G K Davison 471 48,411 ( 1,250) 47,632
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
G K Davison ( 57) 1,118 ( 590) 471
_______ _______ _______ _______
The above loan is interest free and repayable on demand.
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
Tara Davison Developments Limited ( 25,000) ( 2,020) 1,108,692 1,133,692
Davison Contracts Limited ( 32,220) ( 12,834) ( 825,289) ( 793,069)
Davison Labour Supply Limited - - 132 132
Karen Davison Developments Limited 82 - - ( 82)
_______ _______ _______ _______
Significant company shareholders are also shareholders of Tara Davison Developments Limited: Davison Contracts Limited: Davison Labour Supply Limited and Karen Davison Developments Limited.All of the above balances are interest free and repayable on demand.