Davon Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10007115 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2020

for

Davon Investments Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D Norman

C D Hector

REGISTERED OFFICE:

3 Walnut Court

Rose Street

Wokingham

Berkshire

RG40 1XU

REGISTERED NUMBER:

10007115 (England and Wales)

ACCOUNTANTS:

Butt Miller

Chartered Accountants

92 Park Street

Camberley

Surrey

GU15 3NY

CURRENT ASSETS

Debtors

4

1,139,127

585,038

Cash at bank

48,892

4,263

1,188,019

589,301

CREDITORS

Amounts falling due within one year

5

(988,415

)

(450,601

)

NET CURRENT ASSETS

199,604

138,700

TOTAL ASSETS LESS CURRENT LIABILITIES

199,604

138,700

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

199,504

138,600

SHAREHOLDERS' FUNDS

199,604

138,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2020 and were signed on its behalf by:

D Norman - Director

1.	STATUTORY INFORMATION

Davon Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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.

Turnover

Turnover represents amounts received and receivable for interest and associated income from loans advanced.

Trade debtors represents capital amounts outstanding at the statement of financial position date. Amounts

outstanding at the statement of financial position date on loans received during the year to facilitate lending to

property developers, are shown as trade creditors.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,139,127

585,038

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

973,629

441,830

Tax

14,338

8,339

Directors' current accounts

448

432

988,415

450,601

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2020 and 30 April 2019:

2020

2019

£

£

C D Hector

Balance outstanding at start of year

(216

)

(216

)

Amounts advanced

216

216

Amounts repaid

(224

)

(216

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(224

)

(216

)

D Norman

Balance outstanding at start of year

(216

)

(216

)

Amounts advanced

216

216

Amounts repaid

(224

)

(216

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(224

)

(216

)

The above loans are unsecured, interest free and repayable on demand.