A C Davies Limited Filleted accounts for Companies House (small and micro)

A C DAVIES LIMITED - Company Information

0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 42,807 34,482 4,280 38,762 4,045 8,325 xbrli:pure xbrli:shares iso4217:GBP 5593405 2022-04-01 2023-03-30 5593405 2023-03-30 5593405 2022-03-31 5593405 2021-04-01 2022-03-31 5593405 2022-03-31 5593405 2021-03-31 5593405 core:FurnitureFittings 2022-04-01 2023-03-30 5593405 core:MotorVehicles 2022-04-01 2023-03-30 5593405 bus:OrdinaryShareClass1 2022-04-01 2023-03-30 5593405 bus:Director2 2022-04-01 2023-03-30 5593405 core:NetGoodwill 2022-03-31 5593405 core:NetGoodwill 2023-03-30 5593405 core:LandBuildings 2022-03-31 5593405 core:PlantMachinery 2022-03-31 5593405 core:FurnitureFittings 2022-03-31 5593405 core:MotorVehicles 2022-03-31 5593405 core:PlantMachinery 2023-03-30 5593405 core:FurnitureFittings 2023-03-30 5593405 core:MotorVehicles 2023-03-30 5593405 core:WithinOneYear 2023-03-30 5593405 core:WithinOneYear 2022-03-31 5593405 core:AfterOneYear 2023-03-30 5593405 core:AfterOneYear 2022-03-31 5593405 core:LandBuildings 2022-04-01 2023-03-30 5593405 core:ShareCapital 2023-03-30 5593405 core:ShareCapital 2022-03-31 5593405 core:RetainedEarningsAccumulatedLosses 2023-03-30 5593405 core:RetainedEarningsAccumulatedLosses 2022-03-31 5593405 core:NetGoodwill 2022-04-01 2023-03-30 5593405 core:NetGoodwill 2022-03-31 5593405 core:LandBuildings 2022-03-31 5593405 core:PlantMachinery 2022-03-31 5593405 core:FurnitureFittings 2022-03-31 5593405 core:MotorVehicles 2022-03-31 5593405 bus:SmallEntities 2022-04-01 2023-03-30 5593405 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-30 5593405 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-30 5593405 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-30 5593405 bus:FullAccounts 2022-04-01 2023-03-30 5593405 bus:OrdinaryShareClass1 2023-03-30 5593405 bus:OrdinaryShareClass1 2022-03-31

COMPANY REGISTRATION NUMBER: 5593405

A C Davies Limited

Filleted Unaudited Financial Statements

30 March 2023

A C Davies Limited

Financial Statements

Period from 1 April 2022 to 30 March 2023

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 6

A C Davies Limited

Statement of Financial Position

30 March 2023

	30 Mar 23	31 Mar 22
Note	£	£

Fixed assets

Intangible assets	4	4,045	8,325
Tangible assets	5	56,667	179,430
		--------	---------
		60,712	187,755

Current assets

Debtors	6	48,449	–
Cash at bank and in hand		–	6
		--------	----
		48,449	6

Creditors: amounts falling due within one year	7	( 200,380)	( 253,470)
		---------	---------
Net current liabilities		( 151,931)	( 253,464)
		---------	---------
Total assets less current liabilities		( 91,219)	( 65,709)

Creditors: amounts falling due after more than one year	8	( 25,797)	( 42,113)
		---------	---------
Net liabilities		( 117,016)	( 107,822)
		---------	---------

Capital and reserves

Called up share capital	9	4	4
Profit and loss account		( 117,020)	( 107,826)
		---------	---------
Shareholders deficit		( 117,016)	( 107,822)
		---------	---------

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

Director's responsibilities:

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

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

A C Davies Limited

Statement of Financial Position (continued)

30 March 2023

These financial statements were approved by the board of directors and authorised for issue on 28 May 2024 , and are signed on behalf of the board by:

Mr JL Davies
Director

Company registration number: 5593405

A C Davies Limited

Notes to the Financial Statements

Period from 1 April 2022 to 30 March 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 The Ropewalk, Hakin, Milford Haven, Pembrokeshire, SA73 3LW.

2. Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10 years straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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.

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:

Plant & Equipment	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Office Equipment & Fixtures	-	25% reducing balance

No depreciation is provided on Property or Leasehold Improvements.

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 entity 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.

4. Intangible assets

	Goodwill
	£
Cost
At 1 April 2022 and 30 March 2023	42,807
	--------
Amortisation
At 1 April 2022	34,482
Charge for the period	4,280
	--------
At 30 March 2023	38,762
	--------
Carrying amount
At 30 March 2023	4,045
	--------
At 31 March 2022	8,325
	--------

5. Tangible assets

	Property	Leasehold Improvements	Plant & Equipment	Motor Vehicles	Office Equipment & Fixtures	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2022	122,591	56,149	17,454	60,842	18,710	275,746
Disposals	( 122,591)	–	–	–	–	( 122,591)
	---------	--------	--------	--------	--------	---------
At 30 Mar 2023	–	56,149	17,454	60,842	18,710	153,155
	---------	--------	--------	--------	--------	---------
Depreciation
At 1 Apr 2022	–	–	17,215	60,575	18,526	96,316
Charge for the period	–	–	60	66	46	172
	---------	--------	--------	--------	--------	---------
At 30 Mar 2023	–	–	17,275	60,641	18,572	96,488
	---------	--------	--------	--------	--------	---------
Carrying amount
At 30 Mar 2023	–	56,149	179	201	138	56,667
	---------	--------	--------	--------	--------	---------
At 31 Mar 2022	122,591	56,149	239	267	184	179,430
	---------	--------	--------	--------	--------	---------

6. Debtors

	30 Mar 23	31 Mar 22
	£	£
Other debtors	48,449	–
	--------	----

Other debtors include an amount of £Nil (2022 - £Nil) falling due after more than one year.

7. Creditors: amounts falling due within one year

	30 Mar 23	31 Mar 22
	£	£
Bank loans and overdrafts (secured)	15,379	18,366
Trade creditors	9,515	8,568
Other creditors	175,486	226,536
	---------	---------
	200,380	253,470
	---------	---------

The bank facilities are secured by fixed and floating charges over the assets of the company.

8. Creditors: amounts falling due after more than one year

	30 Mar 23	31 Mar 22
	£	£
Bank loans and overdrafts (secured)	25,797	42,113
	--------	--------

9. Called up share capital

Issued, called up and fully paid

	30 Mar 23		31 Mar 22
	No.	£	No.	£
Ordinary shares of £ 1 each	4	4	4	4
	----	----	----	----

10. Related party transactions

The company was under the control of Mr AJ Davies and Mr JL Davies , the managing directors and members of their close families throughout the current period and previous year by virtue of their combined interest in 100% of the issued ordinary share capital. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.