T B Davies (Cardiff) Limited

Audited Financial Statements for the Year Ended 31 December 2025

DIRECTORS:

F Camilleri

P J Gray

M T Gray

M P Gray

D J Gray

SECRETARY:

M T Gray

REGISTERED OFFICE:

Lewis Road

Cardiff

CF24 5EB

REGISTERED NUMBER:

00534073 (England and Wales)

AUDITORS:

BPU Limited

Chartered Accountants

Statutory Auditor

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

FIXED ASSETS

Tangible assets

3

368,231

366,495

Investments

4

20,584

388,815

387,079

CURRENT ASSETS

Stocks

1,228,672

870,598

Debtors

5

1,211,727

1,211,434

Investments

6

615,982

560,362

Cash at bank and in hand

109,264

127,368

3,165,645

2,769,762

CREDITORS

Amounts falling due within one year

7

1,981,630

1,596,443

NET CURRENT ASSETS

1,184,015

1,173,319

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,572,830

1,560,398

CREDITORS

Amounts falling due after more than
one year

8

96,608

156,565

NET ASSETS

1,476,222

1,403,833

CAPITAL AND RESERVES

Called up share capital

30,000

Retained earnings

1,446,222

1,373,833

SHAREHOLDERS' FUNDS

1,476,222

1,403,833

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2026 and were signed on its behalf by:

D J Gray - Director

1.	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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the net fair value of the consideration received or receivable, excluding value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

at rates varying between 10% and 33.33%

Motor vehicles

-

20% reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 Profit & Loss Account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Pension costs

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.

Investments

Listed investments are stated at fair value. Unlisted investments are stated at cost less any provision for permanent diminution in value.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank and in hand.

Bank overdrafts

Bank overdrafts are presented in current liabilities to the extent that there is no right of offset with cash balances.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 25 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 January 2025

486,732

167,036

653,768

Additions

107,314

-

107,314

At 31 December 2025

594,046

167,036

761,082

DEPRECIATION

At 1 January 2025

255,974

31,299

287,273

Charge for year

80,786

24,792

105,578

At 31 December 2025

336,760

56,091

392,851

NET BOOK VALUE

At 31 December 2025

257,286

110,945

368,231

At 31 December 2024

230,758

135,737

366,495

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 January 2025

and 31 December 2025

155,711

109,538

265,249

DEPRECIATION

At 1 January 2025

and 31 December 2025

64,919

10,512

75,431

NET BOOK VALUE

At 31 December 2025

90,792

99,026

189,818

At 31 December 2024

90,792

99,026

189,818

4.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

COST OR VALUATION

At 1 January 2025

and 31 December 2025

84

20,500

20,584

NET BOOK VALUE

At 31 December 2025

84

20,500

20,584

At 31 December 2024

84

20,500

20,584

Cost or valuation at 31 December 2025 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

Valuation in 2024

-

(3,626

)

(3,626

)

Cost

84

24,126

24,210

84

20,500

20,584

5.

DEBTORS

2025

2024

£

Amounts falling due within one year:

Trade debtors

1,030,121

937,079

Other debtors & prepayments

174,906

248,755

1,205,027

1,185,834

Amounts falling due after more than one year:

Other debtors

6,700

25,600

Aggregate amounts

1,211,727

1,211,434

6.	CURRENT ASSET INVESTMENTS

2025

2024

£

Listed investments

615,982

560,362

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Hire purchase contracts (see note 9)

59,865

54,722

Trade creditors

985,357

618,379

Amounts owed to group undertakings

84

Taxes & social security costs

58,852

87,720

Other creditors & accruals

877,472

835,538

1,981,630

1,596,443

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2025

2024

£

Hire purchase contracts (see note 9)

96,608

156,565

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

Net obligations repayable:

Within one year

59,865

54,722

Between one and five years

96,608

156,565

156,473

211,287

Non-cancellable

operating leases

2025

2024

£

Within one year

218,103

220,822

Between one and five years

744,860

842,122

In more than five years

-

120,315

962,963

1,183,259

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Hire purchase contracts

156,473

211,287

The hire purchase contracts are secured over the assets to which they relate.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Matthew Toye FCA (Senior Statutory Auditor)

for and on behalf of BPU Limited

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

P J Gray

Balance outstanding at start of year

58

2,189

Amounts advanced

7,921

2,471

Amounts repaid

(7,139

)

(4,602

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

840

58

D J Gray

Balance outstanding at start of year

1,427

1,665

Amounts advanced

29,406

17,287

Amounts repaid

(26,420

)

(17,525

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

4,413

1,427

M T Gray

Balance outstanding at start of year

-

128

Amounts advanced

525

50

Amounts repaid

(200

)

(178

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

325

-

F Camilleri

Balance outstanding at start of year

-

Amounts advanced

3,563

-

Amounts repaid

(3,270

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

293

-

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T B Davies (Holdings) Limited.

Consolidated financial statements are not prepared as the group qualifies as small.