DAVID TEWARD LIMITED


Directors	TEWARD, David John
	TEWARD, Christiane Martine
	TEWARD, Christopher


Company Secretary	TEWARD, Christiane Martine


Registered Address	East New House
	Baldersdale
	Barnard Castle
	DL12 9UU


Registered Number	06397698 (England and Wales)

Statement of Financial Position
28 February 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		889,720		887,669
			889,720		887,669
Current assets
Stocks		25,090		25,649
Debtors	4	198,441		318,128
Cash at bank and on hand		19,498		6,159
		243,029		349,936
Creditors amounts falling due within one year	5	(654,948)		(620,658)
Net current assets (liabilities)			(411,919)		(270,722)
Total assets less current liabilities			477,801		616,947
Creditors amounts falling due after one year	6		(96,875)		(144,395)
Provisions for liabilities	8		(221,000)		(220,400)
Net assets			159,926		252,152
Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			158,926		251,152
Shareholders' funds			159,926		252,152

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 Directors acknowledge 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 Board of Directors on 6 November 2025, and are signed on its behalf by:

TEWARD, David John
Director
Registered Company No. 06397698

DAVID TEWARD LIMITED

Notes to the Financial Statements
for the period ended 28 February 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.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. 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.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

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.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	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. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	15
	Vehicles	25
	Office Equipment	33

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	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). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	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.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	7		8

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 29 February 24	1,923,150	117,324	1,894	2,042,368
Additions	124,000	83,641	1,083	208,724
Disposals	(88,800)	-	-	(88,800)
At 28 February 25	1,958,350	200,965	2,977	2,162,292
Depreciation and impairment
At 29 February 24	1,073,990	79,771	938	1,154,699
Charge for year	140,852	23,028	494	164,374
On disposals	(46,501)	-	-	(46,501)
At 28 February 25	1,168,341	102,799	1,432	1,272,572
Net book value
At 28 February 25	790,009	98,166	1,545	889,720
At 28 February 24	849,160	37,553	956	887,669

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	198,436	310,755
Other debtors	5	7,373
Total	198,441	318,128

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	127,139	106,571
Bank borrowings and overdrafts	10,000	10,000
Taxation and social security	15,992	21,493
Finance lease and HP contracts	110,514	105,142
Other creditors	385,981	373,912
Accrued liabilities and deferred income	5,322	3,540
Total	654,948	620,658


	Finance lease and HP contracts are secured on the assets to which they relate.

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	7,615	17,500
Other creditors	89,260	126,895
Total	96,875	144,395


	Finance lease and HP contracts equal to £89,260 (2024 - £126,895) are included within other creditors and are secured against the assets to which they relate.

7.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	199,773		232,037

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	221,000	220,400
Total	221,000	220,400

9.	Related party transactions
	Included in other creditors are amounts owed to the directors. No interest has been charged on these loans and there are no set terms for repayment.