Davlyn Properties (Wigan) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00898324 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

FOR

DAVLYN PROPERTIES (WIGAN) LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D J C Hilton

SECRETARY:

Mrs E J Hilton

REGISTERED OFFICE:

The Cottage

52/54 Finch Lane

Appley Bridge

Wigan

Lancashire

WN6 9DT

REGISTERED NUMBER:

00898324 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

39,353

54,417

CURRENT ASSETS

Stocks

40,000

382,520

Debtors

5

205,057

296,013

Cash at bank

1,460,305

1,052,030

1,705,362

1,730,563

CREDITORS

Amounts falling due within one year

6

196,482

180,114

NET CURRENT ASSETS

1,508,880

1,550,449

TOTAL ASSETS LESS CURRENT LIABILITIES

1,548,233

1,604,866

PROVISIONS FOR LIABILITIES

7,477

13,750

NET ASSETS

1,540,756

1,591,116

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

1,540,656

1,591,016

SHAREHOLDERS' FUNDS

1,540,756

1,591,116

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 February 2022 and were signed by:

D J C Hilton - Director

1.	STATUTORY INFORMATION

Davlyn Properties (Wigan) 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.

Going concern

The Director has continued to monitor the trading and cash position in the period to date and has looked at the cash projections for the next 12 months. The order book has also improved and the company has now returned to profit.

The Director considers that the business remains a going concern and the accounts have therefore been prepared on that basis.

Turnover

The turnover shown in the profit and loss account represents the value of all services provided during the year, exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan

accounts, trade creditors and accruals.

Financial instruments that are payable or receivable within one year, typically Directors' loan accounts, trade

creditors, accruals and trade debtors, are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.

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 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2020

9,800

11,917

172,163

6,709

200,589

Disposals

-

-

(33,990

)

-

(33,990

)

At 31 July 2021

9,800

11,917

138,173

6,709

166,599

DEPRECIATION

At 1 August 2020

8,485

11,413

119,565

6,709

146,172

Charge for year

263

76

12,696

-

13,035

Eliminated on disposal

-

-

(31,961

)

-

(31,961

)

At 31 July 2021

8,748

11,489

100,300

6,709

127,246

NET BOOK VALUE

At 31 July 2021

1,052

428

37,873

-

39,353

At 31 July 2020

1,315

504

52,598

-

54,417

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

185,885

234,714

Other debtors

19,172

61,299

205,057

296,013

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

108,298

115,452

Taxation and social security

30,354

4,195

Other creditors

57,830

60,467

196,482

180,114

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

98

Ordinary

£1

98

98

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

1

100

100

8.	ULTIMATE CONTROLLING PARTY

The controlling party is D J C Hilton.