Davies & Davies Limited Filleted accounts for Companies House (small and micro)
Davies & Davies Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04428947
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Balance Sheet |
2019 |
2018 |
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Note |
£ |
£ |
Fixed assets
Intangible assets |
5 |
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Tangible assets |
6 |
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Current assets
Stocks |
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Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets |
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Total assets less current liabilities |
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Provisions |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings (including profit and loss account) has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Balance Sheet (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
25 May 2020
, and are signed on behalf of the board by:
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Director |
Company registration number:
04428947
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Notes to the Financial Statements |
Year ended 31 December 2019
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 10 Oak Street, Fakenham, Norfolk, NR21 9DY.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Foreign currencies
Goodwill
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery |
- |
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Website |
- |
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Motor vehicles |
- |
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Computer Equipment |
- |
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Impairment of fixed assets
Stocks
Finance leases and hire purchase contracts
Provisions
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2018:
7
).
5.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 1 January 2019 and 31 December 2019 |
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Amortisation |
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At 1 January 2019 |
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Charge for the year |
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At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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At 31 December 2018 |
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6.
Tangible assets
Plant and machinery |
Website |
Motor vehicles |
Computer Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2019 |
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Additions |
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– |
– |
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At 31 December 2019 |
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Depreciation |
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At 1 January 2019 |
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Charge for the year |
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– |
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At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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– |
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At 31 December 2018 |
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– |
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7.
Debtors
2019 |
2018 |
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£ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2019 |
2018 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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The bank overdraft of
Davies & Davies Limited
are secured by a cross guarantee between John Davies Framing Limited and Davies & Davies Limited
.