Davenport & Sons Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 9

Davenport & Sons Limited

Company Information

Directors

Mrs E J Fenwick M J Fenwick J M Fenwick H A Fenwick

Company secretary

Mrs E J Fenwick

Registered office

Woodrow House Woodrow Farm Stourton Caundle Sturminster Newton Dorset DT10 2JJ

Accountants

Edwards and Keeping Limited Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Davenport & Sons Limitedfor the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Davenport & Sons Limited for the year ended 31 March 2025 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Davenport & Sons Limited, as a body, in accordance with the terms of our engagement letter dated 20 February 2025. Our work has been undertaken solely to prepare for your approval the accounts of Davenport & Sons Limited and state those matters that we have agreed to state to the Board of Directors of Davenport & Sons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Davenport & Sons Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Davenport & Sons Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Davenport & Sons Limited. You consider that Davenport & Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Davenport & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

11 December 2025

Davenport & Sons Limited

(Registration number: 00152407)
Balance Sheet as at 31 March 2025

	Note	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		913		4,769
Investment property	5		4,028,000		3,515,000
Other financial assets	6		1,018		731
			4,029,931		3,520,500
Current assets
Debtors	7	290,906		309,709
Cash at bank and in hand		79,181		109,996
		370,087		419,705
Creditors: Amounts falling due within one year	8	(1,146,071)		(178,619)
Net current (liabilities)/assets			(775,984)		241,086
Total assets less current liabilities			3,253,947		3,761,586
Creditors: Amounts falling due after more than one year	8		-		(970,000)
Provisions for liabilities			(293,104)		(166,807)
Net assets			2,960,843		2,624,779
Capital and reserves
Called up share capital		75,000		75,000
Capital reserve		7,557		7,557
Revaluation reserve		1,154,501		768,858
General reserves		20,000		20,000
Profit and loss account		1,703,785		1,753,364
			2,960,843		2,624,779

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 December 2025 and signed on its behalf by:
 

M J Fenwick
Director

Davenport & Sons Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Woodrow House
Woodrow Farm
Stourton Caundle
Sturminster Newton
Dorset
DT10 2JJ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Governments grants are accounted for on the accrual model. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognised the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Davenport & Sons Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant machinery etc	20% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable property determined annually by the company's directors. Changes in fair value are recognised in profit or loss.

Investments

Investments comprise investments in quoted equity instruments which are measured at fair value. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Davenport & Sons Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	34,133	34,133
Additions	499	499
At 31 March 2025	34,632	34,632
Depreciation
At 1 April 2024	29,364	29,364
Charge for the year	4,355	4,355
At 31 March 2025	33,719	33,719
Carrying amount
At 31 March 2025	913	913
At 31 March 2024	4,769	4,769

5	Investment properties

	2025 £
At 1 April	3,515,000
Fair value adjustments	513,000
At 31 March	4,028,000

Investment property is carried at fair value, derived from the current market prices for comparable property determined annually by the company's directors. Changes in fair value are recognised in profit or loss. The historical cost of the investment properties was £2,574,414 at 31st March 2025.

There has been no valuation of investment property by an independent valuer.

Davenport & Sons Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

6	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Valuation
At 1 April 2024	731	731
Fair value adjustments	287	287
At 31 March 2025	1,018	1,018
Carrying amount
At 31 March 2025	1,018	1,018
At 31 March 2024	731	731

7

Debtors

Current	2025 £	2024 £
Trade debtors	33,912	10,541
Prepayments	1,091	1,263
Other debtors	255,903	297,905
	290,906	309,709

Included in debtors is an amount of non-current debtors of £62,770 (2024 £62,770)

Davenport & Sons Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	1,055,000	106,000
Trade creditors		9,104	2,582
Taxation and social security		6,800	8,587
Other creditors		75,167	61,450
		1,146,071	178,619

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	-	970,000

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	970,000

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	970,000	21,000
Other borrowings	85,000	85,000
	1,055,000	106,000

Bank loans, borrowings and overdrafts are secured on the company's investment properties.

Davenport & Sons Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

10	Related party transactions

Summary of transactions with key management

Loans to related parties

2025	Directors £	Total £
At start of period	235,135	235,135
Repaid	(42,000)	(42,000)
At end of period	193,135	193,135

2024	Directors £	Total £
At start of period	194,057	194,057
Advanced	42,000	42,000
Repaid	(922)	(922)
At end of period	235,135	235,135

Terms of loans to related parties

The loan is owed jointly by the Directors. Where there are loans to Directors, the company determines the rate of interest that it charges by reference to the nature and purpose of the loans. During the year ended 31st March 2025, the company has not charged interest.