REGISTERED NUMBER: 03460267 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MARK DAVEY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs G E Davey

Mr W J Davey

REGISTERED OFFICE:

Ryefield Farm

West Harting

Petersfield

Hampshire

GU31 5PE

REGISTERED NUMBER:

03460267 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,686,379

1,527,790

1,686,379

1,527,790

CURRENT ASSETS

Stocks

1,155,482

830,884

Debtors

6

551,439

572,610

1,706,921

1,403,494

CREDITORS

Amounts falling due within one year

7

1,757,124

1,587,254

NET CURRENT LIABILITIES

(50,203

)

(183,760

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,636,176

1,344,030

CREDITORS

Amounts falling due after more than one year

8

1,241,423

1,148,260

NET ASSETS

394,753

195,770

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

834,802

834,802

Retained earnings

(441,049

)

(640,032

)

SHAREHOLDERS' FUNDS

394,753

195,770

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr W J Davey - Director

1.	STATUTORY INFORMATION

Mark Davey 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Entitlements are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

in accordance with the property

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tractors & combines

-

25% on reducing balance and 10% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Single farm payment

The Single Farm Payment is included in other operating income, and is credited to the profit and loss account in the year in which the conditions of receipt have been complied with.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

6,260

AMORTISATION

At 1 January 2024

and 31 December 2024

6,260

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Tractors

property

machinery

vehicles

& combines

Totals

£

£

£

£

£

COST

At 1 January 2024

1,441,085

510,157

18,323

862,590

2,832,155

Additions

-

-

27,058

305,000

332,058

Disposals

-

-

(1,100

)

(283,000

)

(284,100

)

At 31 December 2024

1,441,085

510,157

44,281

884,590

2,880,113

DEPRECIATION

At 1 January 2024

197,113

484,718

17,741

604,793

1,304,365

Charge for year

8,539

6,360

6,636

137,321

158,856

Eliminated on disposal

-

-

-

(269,487

)

(269,487

)

At 31 December 2024

205,652

491,078

24,377

472,627

1,193,734

NET BOOK VALUE

At 31 December 2024

1,235,433

19,079

19,904

411,963

1,686,379

At 31 December 2023

1,243,972

25,439

582

257,797

1,527,790

6.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

21,963

150,359

Other debtors

430,752

361,596

452,715

511,955

Amounts falling due after more than one year:

Other debtors

98,724

60,655

Aggregate amounts

551,439

572,610

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

1,174,005

1,331,063

Hire purchase contracts

53,725

32,833

Trade creditors

352,410

57,829

Taxation and social security

45,679

39,156

Other creditors

131,305

126,373

1,757,124

1,587,254

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

1,079,423

1,143,135

Hire purchase contracts

162,000

5,125

1,241,423

1,148,260

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year a director operated an overdrawn current account which constitutes an advance by the company. The total amount advanced in the year was £117,643 against which repayments of £11,296 were made. The balance on the current account as at 31 December 2024 was £293,213. Interest is charged on this loan at a rate of 2.25% per annum. The loan is unsecured and repayable on demand.