Davison Contracts Limited 31/12/2024 iXBRL

Company registration number: 5653654

Davison Contracts Limited

Pages for filing with Registrar

31 December 2024

Davison Contracts Limited

Contents

Statement of financial position

Notes to the financial statements

Davison Contracts Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	6	4,064		4,834
		_______		_______
			4,064		4,834

Current assets
Debtors	7	1,259,212		1,198,449
Cash at bank and in hand		99,359		137,044
		_______		_______
		1,358,571		1,335,493
Creditors: amounts falling due
within one year	8	( 528,519)		( 487,071)
		_______		_______
Net current assets			830,052		848,422
			_______		_______
Total assets less current liabilities			834,116		853,256

Creditors: amounts falling due
after more than one year	9		( 7,797)		( 28,133)
			_______		_______
Net assets			826,319		825,123
			_______		_______

Capital and reserves
Called up share capital			118		118
Profit and loss account			826,201		825,005
			_______		_______
Shareholders funds			826,319		825,123
			_______		_______

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.

Directors 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 directors acknowledge 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 25 September 2025 , and are signed on behalf of the board by:

G K Davison

Director

Company registration number: 5653654

Davison Contracts 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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	-	25% reducing balance
Fittings fixtures and equipment	-	25% reducing balance
Motor vehicles	-	25% reducing balance

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 2 (2023: 2 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£
Current tax:
UK current tax expense	24,746	8,909
Adjustments in respect of previous periods	-	( 76)
	_______	_______
Tax on profit	24,746	8,833
	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	73,656	18,737	15,257	107,650
Additions	-	585	-	585
	_______	_______	_______	_______
At 31 December 2024	73,656	19,322	15,257	108,235
	_______	_______	_______	_______
Depreciation
At 1 January 2024	70,277	17,607	14,932	102,816
Charge for the year	845	429	81	1,355
	_______	_______	_______	_______
At 31 December 2024	71,122	18,036	15,013	104,171
	_______	_______	_______	_______
Carrying amount
At 31 December 2024	2,534	1,286	244	4,064
	_______	_______	_______	_______
At 31 December 2023	3,379	1,130	325	4,834
	_______	_______	_______	_______

7. Debtors

	2024	2023
	£	£
Trade debtors	113,060	54,300
Other debtors	1,146,152	1,144,149
	_______	_______
	1,259,212	1,198,449
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,336	10,081
Trade creditors	162,343	143,240
Corporation tax	33,798	20,204
Other creditors	322,042	313,546
	_______	_______
	528,519	487,071
	_______	_______

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	7,797	28,133
	_______	_______

10. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	G K Davison	106,413	107,445	( 134,943)	78,915
		_______	_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	G K Davison	214,065	172,870	( 280,522)	106,413
		_______	_______	_______	_______

The above loans are interest free and repayable on demand.

11. 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
	£	£	£	£
Gary Davison Construction Limited	32,220	12,834	825,289	793,069
Davison Labour Supply Limited	13,706	16,692	67,508	53,802
Tara Davison Developments Limited	( 22,019)	152,227	31,538	53,557
Karen Davison Developments Limited	( 49,965)	( 29,400)	( 178,875)	( 128,910)
Davison Media Limited	108	432	540	432
	_______	_______	_______	_______

Significant company shareholders are also shareholders of Gary Davison Construction Limited; Daviosn Labour Supply Limited; Tara Davison Developments Limited; Karen Davison Developments Limited and Davison Media Limited.All of the above balances are interest free and repayable on demand.