Company Registration No. 06429682 (England and Wales)
Anthony Davidson Limited
Unaudited accounts
for the year ended 31 March 2020
Anthony Davidson Limited
Unaudited accounts
Contents
Anthony Davidson Limited
Company Information
for the year ended 31 March 2020
Secretary
Mrs C A Davidson
Company Number
06429682 (England and Wales)
Registered Office
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Anthony Davidson Limited
Statement of financial position
as at
31 March 2020
Tangible assets
37,997
755
Cash at bank and in hand
1,543,746
1,477,886
Creditors: amounts falling due within one year
(99,747)
(193,267)
Net current assets
1,459,868
1,297,186
Net assets
1,497,865
1,297,941
Called up share capital
100
100
Profit and loss account
1,497,765
1,297,841
Shareholders' funds
1,497,865
1,297,941
For the year ending 31 March 2020 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 director acknowledges his 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 and authorised for issue on 1 July 2020 and were signed on its behalf by
Mr A D Davidson
Director
Company Registration No. 06429682
Anthony Davidson Limited
Notes to the Accounts
for the year ended 31 March 2020
Anthony Davidson Limited is a private company, limited by shares, registered in England and Wales, registration number 06429682. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ.
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 financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in sterling, which is the functional currency of the company and rounded to the nearest £.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be
measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Anthony Davidson Limited
Notes to the Accounts
for the year ended 31 March 2020
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of income and retained earnings.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currency translation
Functional and presentation currency
The Company's functional and presentational currency is GBP.
Anthony Davidson Limited
Notes to the Accounts
for the year ended 31 March 2020
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing -rate. Non - monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of income and retained earnings except when deferred in other comprehensive income as qualifying cash flow hedges.
Finance costs are charged to the statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Interest income is recognised in the statement of income and retained earnings using the effective interest method.
Tax is recognised in the statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Anthony Davidson Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Intangible fixed assets
Other
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2019
-
6,502
6,502
Additions
31,695
10,000
41,695
At 31 March 2020
31,695
16,502
48,197
At 1 April 2019
-
5,747
5,747
Charge for the year
3,698
755
4,453
At 31 March 2020
3,698
6,502
10,200
At 31 March 2020
27,997
10,000
37,997
At 31 March 2019
-
755
755
Accrued income and prepayments
7,279
6,017
Other debtors
8,590
6,550
7
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
97,397
146,793
Anthony Davidson Limited
Notes to the Accounts
for the year ended 31 March 2020
8
Share capital
2020
2019
Allotted, called up and fully paid:
50 Ordinary A shares of £1 each
50
50
50 Ordinary B shares of £1 each
50
50
The company is currently subject to an ongoing HMRC enquiry. No provision has been made for any possible liability as it is uncertain in existence and amount.
10
Average number of employees
During the year the average number of employees was 2 (2019: 2).