Davidsons Cash and Carry Limited - Accounts to registrar (filleted) - small 18.2

Davidsons Cash and Carry Limited - Accounts to registrar (filleted) - small 18.2

DAVIDSONS CASH AND CARRY LIMITED - Company Information

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REGISTERED NUMBER: 11579610 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

DAVIDSONS CASH AND CARRY LIMITED
DAVIDSONS CASH AND CARRY LIMITED (REGISTERED NUMBER: 11579610)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DAVIDSONS CASH AND CARRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2021







DIRECTOR: Mr Gopi Ageer





SECRETARY:





REGISTERED OFFICE: 34 Fearnley Crescent
Hampton
TW12 3YS





REGISTERED NUMBER: 11579610 (England and Wales)





ACCOUNTANTS: Feely & Company, Chartered Accountants
165 Main Street
Wishaw
Lanarkshire
ML2 7AU
Page 1
DAVIDSONS CASH AND CARRY LIMITED (REGISTERED NUMBER: 11579610)

BALANCE SHEET
30 SEPTEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,000 27,000
Tangible assets 5 216,114 218,842
240,114 245,842

CURRENT ASSETS
Stocks 424,152 441,407
Debtors 6 116,968 88,233
Cash at bank 28,709 27,661
569,829 557,301
CREDITORS
Amounts falling due within one year 7 882,789 711,020
NET CURRENT LIABILITIES (312,960 ) (153,719 )
TOTAL ASSETS LESS CURRENT LIABILITIES (72,846 ) 92,123

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (72,946 ) 92,023
(72,846 ) 92,123

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21 February 2022 and were signed by:





Mr Gopi Ageer - Director


The notes form part of these financial statements

Page 2
DAVIDSONS CASH AND CARRY LIMITED (REGISTERED NUMBER: 11579610)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. STATUTORY INFORMATION

Davidsons Cash and Carry Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

No charge was made in the year of acquisition.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

At each balance sheet date, the company reviews the carrying amount of the tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date but only in those instances where the amount is deemed to be significant.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Basic financial instruments
Basic financial instruments, including short term trade and other debtors due to be settled within one year, are accounted for at their transaction price.

Trade and other debtors are reviewed for impairment (e.g. bad debts) at the end of each accounting period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 9 ) .

Page 3 continued...
DAVIDSONS CASH AND CARRY LIMITED (REGISTERED NUMBER: 11579610)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2020
and 30 September 2021 30,000
AMORTISATION
At 1 October 2020 3,000
Charge for year 3,000
At 30 September 2021 6,000
NET BOOK VALUE
At 30 September 2021 24,000
At 30 September 2020 27,000

No goodwill has been charged in the first year of acquisition.

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2020
and 30 September 2021 200,000 25,685 225,685
DEPRECIATION
At 1 October 2020 - 6,843 6,843
Charge for year - 2,728 2,728
At 30 September 2021 - 9,571 9,571
NET BOOK VALUE
At 30 September 2021 200,000 16,114 216,114
At 30 September 2020 200,000 18,842 218,842

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 89,808 83,149
Other debtors 27,160 5,084
116,968 88,233

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 472,105 385,952
Taxation and social security 78,117 79,439
Other creditors 332,567 245,629
882,789 711,020

Page 4