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No description of principal activity
2018-11-01
Sage Accounts Production Advanced 2019 - FRS102_2014
xbrli:pure
xbrli:shares
iso4217:GBP
04557265
2018-11-01
2019-10-31
04557265
2019-10-31
04557265
2018-10-31
04557265
2017-11-01
2018-10-31
04557265
2018-10-31
04557265
core:FurnitureFittings
2018-11-01
2019-10-31
04557265
bus:Director1
2018-11-01
2019-10-31
04557265
core:WithinOneYear
2019-10-31
04557265
core:WithinOneYear
2018-10-31
04557265
core:AfterOneYear
2019-10-31
04557265
core:AfterOneYear
2018-10-31
04557265
core:ShareCapital
2019-10-31
04557265
core:ShareCapital
2018-10-31
04557265
core:RetainedEarningsAccumulatedLosses
2019-10-31
04557265
core:RetainedEarningsAccumulatedLosses
2018-10-31
04557265
bus:SmallEntities
2018-11-01
2019-10-31
04557265
bus:AuditExempt-NoAccountantsReport
2018-11-01
2019-10-31
04557265
bus:AbridgedAccounts
2018-11-01
2019-10-31
04557265
bus:SmallCompaniesRegimeForAccounts
2018-11-01
2019-10-31
04557265
bus:PrivateLimitedCompanyLtd
2018-11-01
2019-10-31
04557265
core:MotorVehicles
2018-11-01
2019-10-31
COMPANY REGISTRATION NUMBER:
04557265
|
P A Davis (Transport) Limited |
|
|
Filleted Unaudited Abridged Financial Statements |
|
|
P A Davis (Transport) Limited |
|
|
Abridged Statement of Financial Position |
|
31 October 2019
Fixed assets
|
Tangible assets |
5 |
|
19,234 |
|
26,167 |
|
|
|
|
|
|
Current assets
|
Creditors: amounts falling due within one year |
24,225 |
|
23,075 |
|
|
-------- |
|
-------- |
|
|
Net current (liabilities)/assets |
|
(
2,247) |
|
6,305 |
|
|
-------- |
|
-------- |
|
Total assets less current liabilities |
|
16,987 |
|
32,472 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
|
1,816 |
|
7,895 |
|
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
3,654 |
|
4,972 |
|
|
-------- |
|
-------- |
|
Net assets |
|
11,517 |
|
19,605 |
|
|
-------- |
|
-------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
2 |
|
2 |
|
Profit and loss account |
|
11,515 |
|
19,603 |
|
|
-------- |
|
-------- |
|
Shareholders funds |
|
11,517 |
|
19,605 |
|
|
-------- |
|
-------- |
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 October 2019 in accordance with Section 444(2A) of the Companies Act 2006.
|
P A Davis (Transport) Limited |
|
|
Abridged Statement of Financial Position (continued) |
|
31 October 2019
These abridged financial statements were approved by the
board of directors
and authorised for issue on
10 July 2020
, and are signed on behalf of the board by:
Company registration number:
04557265
|
P A Davis (Transport) Limited |
|
|
Notes to the Abridged Financial Statements |
|
Year ended 31 October 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 10 Phoenix Park, Stephenson Industrial Estate, Telford Way, Coalville, Leicestershire, LE67 3HB.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
|
Fixtures & Fittings |
- |
25% straight line |
|
Motor Vehicles |
- |
20% and 25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities
.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2018:
1
).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 November 2018 and 31 October 2019 |
37,694 |
|
-------- |
|
Depreciation |
|
|
At 1 November 2018 |
11,527 |
|
Charge for the year |
6,933 |
|
-------- |
|
At 31 October 2019 |
18,460 |
|
-------- |
|
Carrying amount |
|
|
At 31 October 2019 |
19,234 |
|
-------- |
|
At 31 October 2018 |
26,167 |
|
-------- |
|
|
