Company Registration No. 08098843 (England and Wales)
David Ball Agencies Ltd
Unaudited accounts
for the year ended 31 August 2023
David Ball Agencies Ltd
Unaudited accounts
Contents
David Ball Agencies Ltd
Company Information
for the year ended 31 August 2023
Directors
Mr R A Holder
Mr D Ball
Company Number
08098843 (England and Wales)
Registered Office
34 East Street
Newquay
Cornwall
TR7 1BH
Accountants
Linggard and Thomas
Kew an Lergh
Stret Myghtern Arthur
Nansledan
Cornwall
TR8 4UX
David Ball Agencies Ltd
Statement of financial position
as at 31 August 2023
Intangible assets
90,000
120,000
Tangible assets
70,519
79,750
Cash at bank and in hand
370,566
573,062
Creditors: amounts falling due within one year
(369,316)
(407,456)
Net current assets
312,739
365,023
Total assets less current liabilities
473,258
564,773
Provisions for liabilities
Deferred tax
(17,630)
(15,153)
Net assets
455,628
549,620
Called up share capital
50
50
Capital redemption reserve
50
50
Profit and loss account
455,528
549,520
Shareholders' funds
455,628
549,620
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 May 2024 and were signed on its behalf by
Mr R A Holder
Director
Company Registration No. 08098843
David Ball Agencies Ltd
Notes to the Accounts
for the year ended 31 August 2023
David Ball Agencies Ltd is a private company, limited by shares, registered in England and Wales, registration number 08098843. The registered office is 34 East Street, Newquay, Cornwall, TR7 1BH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% straight line
Plant & machinery
25% straight line
Computer equipment
20% straight line
David Ball Agencies Ltd
Notes to the Accounts
for the year ended 31 August 2023
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Goodwill
At 1 September 2022
300,000
At 1 September 2022
180,000
Charge for the year
30,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2022
38,234
788
64,924
103,946
At 31 August 2023
38,234
788
72,116
111,138
At 1 September 2022
7,706
255
16,235
24,196
Charge for the year
6,089
198
10,136
16,423
At 31 August 2023
13,795
453
26,371
40,619
At 31 August 2023
24,439
335
45,745
70,519
At 31 August 2022
30,528
533
48,689
79,750
Amounts falling due within one year
Trade debtors
79,124
78,193
Amounts due from group undertakings etc.
158,919
-
Accrued income and prepayments
23,501
30,708
Other debtors
36,634
74,217
David Ball Agencies Ltd
Notes to the Accounts
for the year ended 31 August 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
9,241
8,465
Taxes and social security
35,706
63,244
Other creditors
275,743
267,591
Allotted, called up and fully paid:
25 Ordinary A shares of £1 each
25
25
25 Ordinary B shares of £1 each
25
25
9
Operating lease commitments
2023
2022
At 31 August 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
10,738
9,095
Later than one year and not later than five years
23,296
24,240
Later than five years
51,625
62,125
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free Directors Loan, repayable on demand.
37,774
108,157
117,500
28,431
Interest free Directors Loan, repayable on demand
32,630
58,072
82,500
8,202
70,404
166,229
200,000
36,633
11
Transactions with related parties
David Ball Agencies (Partnership)
During the period, the company incurred management fees of £12,000 (2022 £12,000 ) from David Ball Agencies (a partnership owned by both of the Directors). The balance owed to the company at the end of the period was £51,769 (2022 £3,813). The loan is interest free.
JS Cornwall Ltd
During the period, the company made a loan to JS Cornwall Ltd (a company under common control). The balance owed to the company at the end of the period was £107,150 (2022 £0). The loan is interest free.
12
Average number of employees
During the year the average number of employees was 13 (2022: 11).
