DAVE CREED & SONS LTD


Director	Gareth Creed


Company Secretary	Daphne Creed


Registered Address	Springfield Stores
	Hardington Moor
	Yeovil
	BA22 9NP


Registered Number	07357125 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		181,779		191,457
			181,779		191,457
Current assets
Stocks	4	6,000		5,500
Debtors		13,136		9,811
Cash at bank and on hand		103		101
		19,239		15,412
Creditors amounts falling due within one year	5	(125,749)		(113,543)
Net current assets (liabilities)			(106,510)		(98,131)
Total assets less current liabilities			75,269		93,326
Creditors amounts falling due after one year	6		(11,309)		(18,130)
Provisions for liabilities	8		(24,340)		(26,829)
Net assets			39,620		48,367
Capital and reserves
Called up share capital			100		100
Revaluation reserve			30,725		30,725
Profit and loss account			8,795		17,542
Shareholders' funds			39,620		48,367

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 17 December 2025, and are signed on its behalf by:

Gareth Creed
Director
Registered Company No. 07357125

DAVE CREED & SONS LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	3		3

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Total
	£	£	£
Cost or valuation
At 01 April 24	382,530	23,161	405,691
Additions	28,400	-	28,400
Disposals	(6,000)	-	(6,000)
At 31 March 25	404,930	23,161	428,091
Depreciation and impairment
At 01 April 24	197,384	16,850	214,234
Charge for year	31,131	947	32,078
At 31 March 25	228,515	17,797	246,312
Net book value
At 31 March 25	176,415	5,364	181,779
At 31 March 24	185,146	6,311	191,457

4.	Stocks

	2025	2024
	£	£
Raw materials and consumables	6,000	5,500
Total	6,000	5,500

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	10,422	2,524
Bank borrowings and overdrafts	30,306	28,081
Amounts owed to related parties	-	186
Taxation and social security	7,070	6,907
Other creditors	76,491	74,421
Accrued liabilities and deferred income	1,460	1,424
Total	125,749	113,543


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	6,533	6,633
Other creditors	4,776	11,497
Total	11,309	18,130

7.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	4,776		11,497

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	24,340	26,829
Total	24,340	26,829