Davison Highley Limited - Filleted accounts


DAVISON HIGHLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2026



































Company Registration Number: 01422543

DAVISON HIGHLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 10

DAVISON HIGHLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2026


DIRECTORS

J B Davison
T G Davison


SECRETARY

G F Keens


REGISTERED OFFICE

Old North Works
Piddington
High Wycombe
Buckinghamshire
HP14 3BE


COMPANY REGISTRATION NUMBER

01422543 England and Wales

DAVISON HIGHLEY LIMITED

BALANCE SHEET
AS AT 31 MARCH 2026


	Notes	2026		2025
		£		£

FIXED ASSETS
Tangible assets	5		90,399		86,355

CURRENT ASSETS
Stock		258,600		228,710
Debtors	6	638,917		651,162
Cash at bank and in hand		782,812		310,383


		1,680,329		1,190,255

CREDITORS: Amounts falling due within one year	7	817,079		636,156
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS			863,250		554,099


TOTAL ASSETS LESS CURRENT LIABILITIES			953,649		640,454

CREDITORS: Amounts falling due after more than one year	8		161,597		199,729
CREDITORS: Amounts falling due after more than one year

Provisions for liabilities and charges			20,661		19,732


NET ASSETS			771,391		420,993


CAPITAL AND RESERVES
Called up share capital			61,752		61,752
Distributable profit and loss account			620,389		269,991
Capital redemption reserve			89,250		89,250


SHAREHOLDERS' FUNDS			771,391		420,993

DAVISON HIGHLEY LIMITED

BALANCE SHEET
AS AT 31 MARCH 2026


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board of directors




T G Davison
Director

Date approved by the board: 30 October 2026

DAVISON HIGHLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026


1	GENERAL INFORMATION

	Davison Highley Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	Old North Works
	Piddington
	High Wycombe
	Buckinghamshire
	HP14 3BE

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable and represents the manufacture and sale of high-class contract upholstery, furniture and fittings, stated net of trade discounts and value added tax.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Short leasehold property					Straight line basis over the period of the lease
	Furniture and equipment					Straight line basis at 20% per annum
	Motor vehicles					Reducing balance basis at 25% per annum

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

DAVISON HIGHLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Financial Instruments

	A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.

	Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.

	Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.


	Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.

DAVISON HIGHLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Stock

	Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises materials, direct labour and an appropriate proportion of production overheads.

	The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.


	Work in progress

Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises materials, direct labour and an appropriate proportion of production overheads relevant to the stage of construction.


	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

	Leases

	Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

	The company has entered into some hire purchase agreements for certain assets that include the option to purchase the items at the end of the lease term for a nominal amount, which is expected to be much lower than their fair value at that date. The hire purchase agreements have been classified as finance leases as it is reasonably certain that the option will be exercised.

	Assets held under finance leases are recognised in accordance with the company's policy for tangible fixed assets. The corresponding obligations to lessors under finance leases are treated in the balance sheet as a liability. The assets and liabilities under finance leases are recognised at amounts equal to the fair value of the assets, or if lower, the present value of minimum lease payments, determined at the inception of the lease.

	Minimum lease payments are apportioned between finance charges and the reduction in the outstanding liabilities using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in the profit and loss account.


	Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.

DAVISON HIGHLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	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 taxable profits.

	Deferred tax is measured using 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.

	Current and deferred tax assets and liabilities are not discounted.

	Foreign currencies

	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

	Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rate of exchange prevailing at that date. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit or loss.


	Provisions

	A provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use is recognised. The provision is measured at the salary cost payable for the period of absence.

	Pensions

	The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.

	Employee benefits

	Short term employee benefits are recognised as an expense in the period in which they are incurred.

DAVISON HIGHLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

4	EMPLOYEES

	The average number of persons employed by the company (including directors) during the year was:

					2026	2025
	Average number of employees				33	30


5	TANGIBLE ASSETS
		Short leasehold property		Furniture and equipment	Motor vehicles	Total
			£	£	£	£
	Cost
	At 1 April 2025		290,579	243,400	89,820	623,799

	Additions		-	39,461	-	39,461

	Disposals		-	(9,476)	-	(9,476)


	At 31 March 2026		290,579	273,385	89,820	653,784


	Accumulated depreciation
	At 1 April 2025		282,963	176,230	78,251	537,444

	Charge for year		952	31,573	2,892	35,417

	Disposals		-	(9,476)	-	(9,476)


	At 31 March 2026		283,915	198,327	81,143	563,385


	Net book value
	At 1 April 2025		7,616	67,170	11,569	86,355


	At 31 March 2026		6,664	75,058	8,677	90,399

DAVISON HIGHLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026


6	DEBTORS
		2026	2025
		£	£
	Trade debtors	589,223	570,806
	Prepayments and accrued income	49,694	42,224
	Other debtors	-	38,132


		638,917	651,162


7	CREDITORS: Amounts falling due within one year
		2026	2025
		£	£
	Trade creditors	171,668	213,419
	Taxation and social security	332,951	157,160
	Accruals and deferred income	308,640	261,468
	Other creditors	3,820	4,109


		817,079	636,156


8	CREDITORS: Amounts falling due after more than one year
		2026	2025
		£	£
	Other creditors	161,597	199,729


9	SECURED DEBTS

	The hire purchase contracts and finance leases are secured on the assets concerned.

10	CONTINGENCIES AND COMMITMENTS

	Other Commitments

	Amounts falling due under operating leases:	2026	2025
		£	£
	In less than one year	129,899	129,899
	In more than one but less than five years	161,074	294,872


		290,973	424,771

DAVISON HIGHLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026


11	RELATED PARTY TRANSACTIONS

	During the year, the following transactions with related parties took place:

	Directors
			2026	2025
			£	£
	J B Davison	Amounts owed to the director	2,784	2,784


	T G Davison	Amounts owed to the director	1,036	1,325


	Pitch Green Investments Limited	Amounts owed to associate	161,597	199,729


	The balance due to Pitch Green Investments Limited has reduced by £38,132 as a result of the offset of a debtor balance. In 2025 accounts this debtor balance was shown separately in other debtors due to a dispute over a repayment, which had previously been shown in the balance due to Pitch Green Investments Limited. The dispute has been resolved during the year.