Davies Craddock (Holdings) Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 06523912 (England and Wales)

Financial Statements

for the Year Ended 28 February 2017

for

Davies Craddock (Holdings) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

F A D R Craddock

N P Davies

SECRETARY:

F A D R Craddock

REGISTERED OFFICE:

Williamston House

7 Goat Street

Haverfordwest

Pembrokeshire

SA61 1PX

REGISTERED NUMBER:

06523912 (England and Wales)

FIXED ASSETS

Intangible assets

3

324,000

450,000

Investments

4

50,000

50,000

374,000

500,000

CREDITORS

Amounts falling due within one year

5

316,789

575,067

NET CURRENT LIABILITIES

(316,789

)

(575,067

)

TOTAL ASSETS LESS CURRENT LIABILITIES

57,211

(75,067

)

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

7,211

(125,067

)

SHAREHOLDERS' FUNDS

57,211

(75,067

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9 June 2017 and were signed on its behalf by:

F A D R Craddock - Director

N P Davies - Director

1.	STATUTORY INFORMATION

Davies Craddock (Holdings) Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Davies Craddock (Holdings) Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2016

2,250,000

Additions

110,000

At 28 February 2017

2,360,000

AMORTISATION

At 1 March 2016

1,800,000

Amortisation for year

236,000

At 28 February 2017

2,036,000

NET BOOK VALUE

At 28 February 2017

324,000

At 29 February 2016

450,000

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 March 2016

and 28 February 2017

50,000

NET BOOK VALUE

At 28 February 2017

50,000

At 29 February 2016

50,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Amounts owed to group undertakings

269,084

329,487

Tax

47,069

44,944

Directors' current accounts

-

200,000

Accrued expenses

636

636

316,789

575,067

6.	DIRECTORS' LOAN ACCOUNTS

The following advances and credits to directors subsisted during the years ended 28 February 2017 and

29 February 2016:

28.2.17

29.2.16

£

£

F A D R Craddock

Balance outstanding at start of year

(100,000

)

(223,186

)

Amounts advanced

100,000

123,186

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(100,000

)

N P Davies

Balance outstanding at start of year

(100,000

)

(223,186

)

Amounts advanced

100,000

123,186

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(100,000

)

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 were paid to the directors .

During the period the company invoiced its subsidiary £236,000 (2016 £225,000) for management charges. At

the balance sheet date the company owed its subsidiary £269,084 (2016 £329,487).

8.	ULTIMATE CONTROLLING PARTY

The controlling party is its directors.