Company Registration No. 10030793 (England and Wales)
Davis and Parsons Ltd
Unaudited accounts
for the year ended 31 March 2019
Davis and Parsons Ltd
Unaudited accounts
Contents
Davis and Parsons Ltd
Company Information
for the year ended 31 March 2019
Directors
Greg Parsons
Gordon Davis
Company Number
10030793 (England and Wales)
Registered Office
WESTCOTT FARM
WESTLEIGH
TIVERTON
DEVON
EX16 7EW
UNITED KINGDOM
Accountants
Blue Penguin Chartered Accountants
16 Claremont Drive
Taunton
Somerset
TA1 4JF
Davis and Parsons Ltd
Statement of financial position
as at
31 March 2019
Tangible assets
114,975
238,139
Cash at bank and in hand
72,918
99,092
Creditors: amounts falling due within one year
(393,880)
(489,617)
Net current liabilities
(70,068)
(84,380)
Total assets less current liabilities
44,907
153,759
Creditors: amounts falling due after more than one year
(13,480)
(42,521)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
31,327
88,450
Shareholders' funds
31,427
88,550
For the year ending 31 March 2019 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.
Approved by the Board on 4 November 2019.
Greg Parsons
Director
Company Registration No. 10030793
Davis and Parsons Ltd
Notes to the Accounts
for the year ended 31 March 2019
Davis and Parsons Ltd is a private company, limited by shares, registered in England and Wales, registration number 10030793. The registered office is WESTCOTT FARM, WESTLEIGH, TIVERTON, DEVON, EX16 7EW, UNITED KINGDOM.
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.
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.
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:
Plant & machinery
15% straight line
Motor vehicles
6yrs straight line
Fixtures & fittings
3yrs straight line
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.
Davis and Parsons Ltd
Notes to the Accounts
for the year ended 31 March 2019
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2018
148,380
154,949
1,374
304,703
Disposals
(106,670)
-
-
(106,670)
At 31 March 2019
41,710
154,949
1,441
198,100
At 1 April 2018
25,719
40,352
493
66,564
Charge for the year
6,257
25,825
480
32,562
On disposals
(16,001)
-
-
(16,001)
At 31 March 2019
15,975
66,177
973
83,125
At 31 March 2019
25,735
88,772
468
114,975
At 31 March 2018
122,661
114,597
881
238,139
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
22,279
118,833
- Motor vehicles
54,018
70,855
Trade debtors
133,528
197,785
Other debtors
106,978
108,360
7
Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
18,600
24,464
Trade creditors
322,150
159,262
Taxes and social security
2,227
3,460
Loans from directors
7,238
10,418
The hire purchase liabilities are secured on the assets to which they relate.
Davis and Parsons Ltd
Notes to the Accounts
for the year ended 31 March 2019
8
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
13,480
42,521
The hire purchase liabilities are secured on the assets to which they relate.
9
Share capital
2019
2018
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Operating lease commitments
2019
2018
At 31 March 2019 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
7,754
23,551
Within two to five years
5,300
15,508
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
12
Average number of employees
During the year the average number of employees was 2 (2018: 2).