Davis Coleman Limited Filleted accounts for Companies House (small and micro)

DAVIS COLEMAN LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 30,290 178 30,468 28,094 474 28,568 1,900 2,196 xbrli:pure xbrli:shares iso4217:GBP 03047197 2022-07-01 2023-06-30 03047197 2023-06-30 03047197 2022-06-30 03047197 2022-06-30 03047197 bus:Director1 2022-07-01 2023-06-30 03047197 core:WithinOneYear 2023-06-30 03047197 core:WithinOneYear 2022-06-30 03047197 core:ShareCapital 2023-06-30 03047197 core:ShareCapital 2022-06-30 03047197 core:CapitalRedemptionReserve 2023-06-30 03047197 core:CapitalRedemptionReserve 2022-06-30 03047197 core:RetainedEarningsAccumulatedLosses 2023-06-30 03047197 core:RetainedEarningsAccumulatedLosses 2022-06-30 03047197 bus:SmallEntities 2022-07-01 2023-06-30 03047197 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 03047197 bus:FullAccounts 2022-07-01 2023-06-30 03047197 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 03047197 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 03047197 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 03047197 core:FurnitureFittingsToolsEquipment 2022-06-30 03047197 core:FurnitureFittingsToolsEquipment 2023-06-30

COMPANY REGISTRATION NUMBER: 03047197

Davis Coleman Limited

Filleted Unaudited Financial Statements

For the year ended

30 June 2023

Davis Coleman Limited

Statement of Financial Position

30 June 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	4	1,900	2,196

Current assets

Debtors	5	4,330	3,710
Cash at bank and in hand		3,576	3,548
		-------	-------
		7,906	7,258

Creditors: amounts falling due within one year	6	8,138	12,599
		-------	--------
Net current liabilities		232	5,341
		-------	-------
Total assets less current liabilities		1,668	( 3,145)
		-------	-------
Net assets/(liabilities)		1,668	( 3,145)
		-------	-------

Capital and reserves

Called up share capital	3,600	3,600
Capital redemption reserve	22,800	22,800
Profit and loss account	( 24,732)	( 29,545)
	--------	--------
Members funds/(deficit)	1,668	( 3,145)
	--------	--------

These 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 Section 1A of 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 statement of income and retained earnings has not been delivered.

For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Davis Coleman Limited

Statement of Financial Position (continued)

30 June 2023

These financial statements were approved by the board of directors and authorised for issue on 18 July 2023 , and are signed on behalf of the board by:

C Read

Company registration number: 03047197

Davis Coleman Limited

Notes to the Financial Statements

Year ended 30 June 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 47B High Street, Ongar, Essex, CM5 9DT.

2. Statement of compliance

These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Equipment	-	20% reducing balance

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Equipment
	£
Cost
At 1 July 2022	30,290
Additions	178
	--------
At 30 June 2023	30,468
	--------
Depreciation
At 1 July 2022	28,094
Charge for the year	474
	--------
At 30 June 2023	28,568
	--------
Carrying amount
At 30 June 2023	1,900
	--------
At 30 June 2022	2,196
	--------

5. Debtors

	2023	2022
	£	£
Trade debtors	3,536	2,904
Other debtors	794	806
	-------	-------
	4,330	3,710
	-------	-------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	5,974	10,414
Social security and other taxes	964	965
Other creditors	1,200	1,220
	-------	--------
	8,138	12,599
	-------	--------

7. Directors' advances, credits and guarantees

No disclosures are required of directors' advances, credits and guarantees.