Accounts filed on 31-01-2015
Accounts filed on 31-01-2015
trueDavies Developments Limited055759102015-01-3146354159618146354259618211463542596182577610820469318607002440436519360798532497805202897691405144084589000198946588111129428882876422888287642Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
In respect of long-term contracts, turnover is recognised in accordance with that specific accounting policy.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the director considers that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Long term contracts
The amount of profit attributable to the stage of completion of a long-term contract is recognised when the outcome of the contract can be foreseen with reasonable certainty. Turnover for such contracts is stated at the cost appropriate to the stage of completion plus attributable profits, less amounts recognised in previous years. Provision is made for any losses as soon as they are foreseen.
Contract work in progress is stated at costs incurred, less those transferred to the profit and loss account, after deducting foreseeable losses and payments on account not matched with turnover.
Amounts recoverable on contracts are included in debtors and represent turnover recognised in excess of payments received on account.
Plant & MachineryMethod for Plant & equipment0.0000Motor VehiclesMethod for Motor vehicles0.0000761641372083356-64400472824956618435-20719761641372083356-644004728249566-2071918435Ordinary1000110001000Ordinary11112015-10-20Mr. M J Daviestruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureDavies Developments Limited2014-02-012015-01-31Davies Developments Limited2013-02-012014-01-31Davies Developments Limited2013-01-31Davies Developments Limited2014-01-31Davies Developments Limited2014-01-31Davies Developments Limited2015-01-31 2015-10-22
